The B.C. government has announced a multi-year #BCTECH
Strategy to bolster the vibrant technology sector in B.C.
Following the announcement of the C$100-million B.C. Tech Fund in
December 2015 aimed at advancing the first strategic pillar of
access to capital, the final two pillars of deepening the B.C.
talent pool and easier market access were announced at the sold out
#BCTECH Summit on January 18, 2016. #BCTECH Summit brought together
more than 2,800 business leaders, entrepreneurs, investors,
academics and students focused on advancing the technology sector
in B.C. The #BCTECH Summit also hosted a venture capital forum
featuring presentations from B.C. technology companies representing
a wide variety of technology driven sectors, including life
sciences, pharmacology, clean technology, mobile services and
The new #BCTECH Strategy is a key component of the B.C. Jobs
Plan. The previously announced C$100-million B.C. Tech Fund is
aimed at advancing the first strategic pillar of the #BCTECH
Strategy by increasing access to capital for promising companies.
The B.C. Tech Fund will help early stage technology companies
realize their potential by addressing the Series A funding gap and
revitalizing early stage venture capital in B.C. The capital will
be deployed to support local investments, leverage capital from
other jurisdictions, and help B.C. technology companies to grow and
prosper. The increase in access to capital is complemented by the
B.C. venture capital tax credits and competitive corporate tax
rates in B.C.
The B.C. government's infusion of capital in the technology
sector aligns with the C$100-million cleantech fund — Evok
Innovations — launched by the Canadian oil and gas sector to
accelerate the development and commercialization of impactful clean
technology solutions and address the most pressing environmental
and economic challenges facing the oil and gas sector. The
entrepreneur-led Evok Innovations provides early-stage companies
with capital to accelerate the adoption of clean technologies by
connecting portfolio companies directly with industry
The second strategic pillar of #BCTECH focuses on strengthening
the B.C. technology talent pool to ensure the success and
competitiveness of the local technology sector. The government
plans to increase the B.C. technology talent pool by primarily
utilizing a bottom-up approach. The strategy hinges on revamping
the curriculum for K-12 in math and sciences to establish the
fundamental skills needed for careers in the technology industry,
including the opportunity for each student to learn coding by the
end of Grade 9. The early changes to the educational curriculum
will be augmented by greater access to technology-related work
experience programs for high school students, and an increase in
funding to implement advance research laboratories for
The third strategic pillar of increasing the access of
technology companies to markets is an important forward-looking
step towards sustainability. The government strategy is comprised
of various steps, including taking steps to streamline, simplify
and automate the government procurement process, increasing access
to local and global markets, facilitating exports and improving
collaboration and commercialization in the technology
To learn more, visit the Premier’s Technology Council’s website, the B.C. Technology Industry Association’s website, the B.C. Innovation Council’s website or B.C. Business Council’s website.
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