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November 21, 2014
Supporting Innovative Businesses in British Columbia

Vancouver, BC - The Honourable James Moore, Minister of Industry and Minister Responsible for British Columbia, today announced a major investment in four British Columbia incubator and accelerator organizations that will help innovative small and medium-sized B.C. enterprises grow, prosper and create jobs.

The funds, distributed under the Canada Accelerator and Incubator Program, will ensure Canadian entrepreneurs have access to the resources and expertise needed to develop their business plans, seek follow-on financing and explore new international markets for products and services.

Quick facts

  • The BC Technology Industry Association (BCTIA) will receive up to $10.4 million. BCTIA supports the development, growth and advancement of B.C. technology companies of all sizes and in all sectors. Through a variety of innovative incubation and acceleration programs, companies have access to the resources that matter most: mentors, customers, partners and investors‎.
  • HIGHLINE will receive up to $600,000. HIGHLINE, formerly GrowLab Ventures Inc., is a start-up accelerator based in Vancouver and Toronto. This venture capital–backed for-profit organization helps digital entrepreneurs build companies that achieve product-market fit and secure institutional capital. HIGHLINE gives digital founders an edge through timely seed funding, intense mentorship, global connectivity, curated workspace and three months of specialized programming.
  • The Centre for Drug Research and Development (CDRD), in collaboration with CDRD Ventures Inc. (CVI), will receive up to $10.9 million. CDRD is a robust incubator and Canada’s national not-for-profit drug development and commercialization centre. It aims to de-risk discoveries stemming from academic health research, adding value and transforming them into viable investment opportunities for the private sector. CVI, CDRD’s commercialization vehicle, acts as an accelerator, selecting promising technologies with the goal of advancing them to a stage where they can attract licensing or co-development partners or form new spin-off companies.
  • Wavefront Wireless Commercialization Centre Society will receive up to $9.5 million. Wavefront is Canada’s Centre of Excellence for Wireless Commercialization and Research. It helps accelerate the growth and success of wireless companies, connecting them with critical resources, partners and opportunities, to drive economic and social benefits for Canada.
  • These four organizations will provide entrepreneurs in early-stage companies with invaluable resources and access to world-class mentoring and coaching to ensure their success.
  • On June 20, 2014, Prime Minister Stephen Harper announced the 15 incubators and accelerators that were chosen to advance in the selection process for the Canada Accelerator and Incubator Program (CAIP), which is designed to help outstanding small and medium-sized Canadian enterprises grow, prosper and create jobs.
  • Delivered by the National Research Council of Canada’s Industrial Research Assistance Program, CAIP provides support in the form of non-repayable contributions to a small and select number of best-in-class accelerators and incubators. Recipients will be required to demonstrate matching contributions on at least a 1:1 basis during the period of the contribution funding.

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