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Government of Canada Awards $14.8 Million in Repayable Loans to 12 BC Tech Companies
Friday, March 24, 2017Company Profile | Follow Company
Vancouver, BC, March 24, 2017--(T-Net)--The Government Canada through its Western Economic Diversification Canada (WD) regional economic development agency, announced that it has provided $14.8 million in repayable loans to twelve British Columbia tech companies.
Funding for these B.C. companies is part of several projects announced under the Western Innovation (WINN) Initiative. The program provides $100 million in repayable contributions to small- and medium-sized enterprises in Western Canada.
Here is a list of the BC tech companies receiving funding:
Project Proponent |
Project Description |
WINN Funding |
|
Commercialize a process for accelerating the validation of antibodies |
$1,750,000 |
|
Commercialize an electrochemical system for treating ammonia contaminated wastewater |
$1,000,000 |
|
Commercialize high-speed production of bio-based fully compostable single-serve coffee pod |
$2,500,000 |
HTEC Hydrogen Technology & Energy Corporation |
Build and deploy Canada's first retail hydrogen fueling station in British Columbia |
$600,000 |
|
Integrate intranet platform and publishing functionality with leading cloud fileshare |
$486,413 |
Develop pilot production process for eFlow fuel stack technology and power modules |
$760,000 |
|
Commercialize a new particulate matter sensor to measure airborne particles to 1 micron |
$300,000 |
|
Demonstrate landfill biogas clean up and upgrading system for commercialization |
$1,100,000 |
|
Commercialize innovative Ethernet vehicle switch specifically for passenger rail vehicles |
$647,500 |
|
Commercialize the ElectroChem Advanced Desalination System |
$3,500,000 |
|
Expand the Semios Automated Precision Farming System to cherry orchards |
$500,000 |
|
Commercialize a biopesticide technology for insect control |
$1,695,000 |
|
TOTAL PROJECT FUNDING |
$14,838,913 |
The Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development and Minister responsible for Western Economic Diversification Canada, made the announcement last week in Vancouver, B.C.
"A $14.8 million investment will help twelve British Columbia companies move their new and exciting products to market faster and more efficiently, while creating over 240 quality jobs in the region", stated the government in its press release.
Additional Links
Western Innovation (WINN) Initiative
CONTACT INFORMATION
Pauline Tam
Director of Communications
Innovation, Science and Economic Development
343-291-2511
pauline.tam@canada.ca
Ben Stanford
Regional Communications Manager
Western Economic Diversification Canada
604-666-7038
ben.stanford@canada.ca
Backgrounder
The Western Innovation Initiative (WINN) is a $100 million five-year federal initiative that offers repayable contributions for small and medium-sized enterprises (SMEs) with operations in Western Canada, in order to help move their new and innovative technologies from the later stages of research and development to the marketplace.
The intent of WINN is to promote the development and diversification of the western Canadian economy by providing financial support to qualified SMEs to help them bring innovative products, processes, and services to market in Western Canada and by stimulating greater private sector investment in western Canadian commercialization activities.
By helping to seize opportunities for innovation, Western Economic Diversification Canada (WD) will support the creation of jobs and growth while ensuring that new opportunities for success are realized and new products, processes, and services are brought from the test bench to the marketplace.
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Western Economic Diversification
Vancouver
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