The federal government this month announced $3.5 million in funding through the Pacific Economic Development Agency of Canada to help eight Vancouver Island-based organizations advance innovation and attract visitors to the region.
“Amazing things are happening on Vancouver Island,” reads a statement. “From technology to tourism, local innovators and entrepreneurs across industries are coming together to build a strong regional economy.”
Minister Harjit Sajjan made the announcement while visiting Open Ocean Robotics, a marine robotic vehicle company receiving $800,000 in funding. Open Ocean’s technology helps researchers monitor ocean conditions and track marine life in challenging environments, making it safer and more affordable to protect oceans.
This investment, which hails from PacifiCan’s Business Scale-up and Productivity program, will help the company scale-up production of its Uncrewed Surface Vehicles, which are solar-powered, autonomous boats that provide real-time ocean information.
Two other companies garnered capital through the Business Scale-up and Productivity program.
E-commerce firm Fluorescent Design will receive $569,000 to develop new apps and innovate existing ones as well as expand their team.
And Industrial Plankton was awarded $900,000 in funding to establish a new manufacturing facility for its energy-efficient bioreactors. This firm’s technology produces algae and seaweed to feed shellfish, which are used for both human consumption and ocean restoration projects.
The funding will expand Plankton’s production capacity and create jobs, Sajjan said.
“These investments will create enduring benefits across the province and grow Vancouver Island as a destination of choice,” reads a statement from the government.
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