Published by Todd Bush on September 30, 2022
Vancouver, B.C., Sept. 29, 2022 (GLOBE NEWSWIRE) -- Tonight at an awards ceremony in Vancouver, Innovate BC awarded $2,325,000 to eight B.C. research and development projects that are creating game-changing innovations that are improving lives for British Columbians. Specifically, this year’s funding, through Innovate BC’s Ignite program, is accelerating the commercialization of biotech, cleantech, mining, agriculture, and forestry projects.
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“Innovation in is at the core of our StrongerBC Economic Plan as we explore new ways to tackle the challenges of today and plan for the future,” said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. “The commercialization of these projects through Innovate BC’s Ignite program will create jobs and lead to new investment opportunities for British Columbian companies. I want to congratulate today’s winners and look forward to seeing their initiatives help make B.C. a more sustainable province.”
The successful projects noted below were selected based on their promising commercial and technical viability as well as their ability to be market ready within three years. To be considered, projects must also address an industry problem with the potential for significant benefit to British Columbia and be realized by a group of academic and industry members.
“It’s so thrilling to see these incredible innovations in natural resources and applied sciences being developed right here in British Columbia,” says Raghwa Gopal, President + CEO of Innovate BC. “In the past 8 years Innovate BC has invested over $10M in market driven research that is creating jobs, transforming industries, and pushing the boundaries of innovation.”
Each year Innovate BC’s Ignite program selects research projects in the natural resources and applied sciences, awarding up to $300,000 per project. To date it has funded 41 projects for a total value of $10.7M.
The Ignite Program is funded by the Natural Resources and Applied Sciences (NRAS) Endowment Fund, which was established by the Province of British Columbia to enhance the quality of life for British Columbians by building strong environments in research and development, advanced training, technology transfer, and commercialization.
To learn more about Ignite, visit Innovate BC’s website: www.innovatebc.ca/ignite.
Innovate BC helps foster innovation in B.C. so that British Columbians in all regions of the province can benefit from a thriving, sustainable, and inclusive innovation economy. A Crown Agency of British Columbia, Innovate BC funds and delivers programs that support the growth of the B.C. economy by helping companies start and scale, train talent that meets labour market needs, and encourage technology development, commercialization, and adoption.
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