The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) and Innovate BC, have signed a Memorandum of Understanding (MOU) to invest more than $2 million in research and development funding for 22 new projects through the B.C. Fast Pilot Program.
The B.C. Fast Pilot program provides up to $200,000 for regional SMEs to design, build and operate a pilot plant or small demonstration of their technology in real-world conditions. The program allows B.C. technology companies to demonstrate the impact of their product, measure the value of their solution, and encourage customer adoption.
For customers, the program offers a way to minimize some of the risk that traditional industries encounter when adopting new technologies.
This is the second MOU NRC IRAP and Innovate BC have signed, and marks the second round of B.C. Fast Pilot funding.
Last year, 12 pilot demonstrations were funded during the program’s initial run resulting in the creation of 21 new jobs, the acquisition of 20 new customers, and an increase of nearly $3 million in new revenue for participating firms.
This year’s round of funding placed a priority on cleantech and emergency management projects, as well as projects that involve Indigenous communities or organizations.
Check out the complete list of funded projects here.