The Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), has announced an investment of over $8.1 million in PacifiCan funding to help six Greater Victoria organizations boost innovation networks, drive business growth, and create new jobs and training opportunities.
This includes $5.7 million for four organizations through PacifiCan’s Regional Innovation Ecosystems program, over $2.2 million for two companies through PacifiCan’s Business Scale-Up and Productivity program, and $250,000 for one company through PacifiCan’s Jobs and Growth Fund.
As part of the Business Scale-Up and Productivity Program, Aluula Composites was awarded $729,114 and Peloton Technologies was awarded $1,500,000. Through the Jobs and Growth Fund, Origen Air was awarded $250,000.
Minister Sajjan made the announcement last week with the South Island Prosperity Partnership, Greater Victoria’s economic development alliance, which is receiving $3 million to establish the new Centre for Ocean Applied Sustainable Technologies (COAST) and support activities led by the Indigenous Prosperity Centre (IPC).
COAST will expand B.C.’s emerging ocean technology sector by bringing together entrepreneurs, governments, researchers, and industry partners to address climate challenges and boost the local ocean economy.
IPC is a new Indigenous-led arm of SIPP dedicated to supporting Indigenous-led economic development in ocean monitoring and conservation on southern Vancouver Island.
The investments announced also include almost $1.9 million for two projects with the University of Victoria, including $1.2 million for the Proteomics Centre to purchase and install a flex mass spectrometer, the first instrument of its kind in Canada which will allow local companies to advance drug development and cancer research.
The University’s Pacific Regional Institute for Marine Energy Discovery is also receiving $658,000 to develop opportunities to replace diesel generators with renewable energy sources, such as ocean waves and tidal currents, on Haida Gwaii.