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Federal government invests $3.5M in Vancouver Island businesses

Federal government invests $3.5M in Vancouver Island businesses

Ocean Sciences and Marine Technology Funding Government

VICTORIA — On Sep. 5, Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $3.5 million in PacifiCan funding for eight Vancouver Island-based organizations to try to advance innovation, attract visitors, and boost the region’s leadership in areas such as ocean technology and Indigenous tourism.

Minister Sajjan made the announcement while visiting Open Ocean Robotics, a marine robotic vehicle company receiving $800,000 in PacifiCan funding. This investment will help the company scale-up production of its Uncrewed Surface Vehicles, which are solar-powered, autonomous boats that provide real-time ocean information.

Open Ocean’s technology helps researchers monitor ocean conditions and track marine life in challenging environments, making it reportedly safer, easier and more affordable to protect the ocean. PacifiCan funding will allow the company to expand operations and access new markets, create jobs and elevate Vancouver Island as a hub for marine solutions and environmental stewardship. This funding comes from PacifiCan’s Business Scale-up and Productivity (BSP) program.

Other organizations receiving a total of $1.7 million in funding through PacifiCan’s BSP and Jobs and Growth Fund are Fluorescent Design, Industrial Plankton and Namgis Business Development Corporation.

The announcement also includes almost $1 million in support for four local organizations through PacifiCan’s Tourism Growth Program. From new sports hubs to vibrant Indigenous arts and culture experiences, creating unforgettable tourism attractions is important to Vancouver Island’s economy and long-term prosperity.

“Vancouver Island has an amazing combination of talent, resources and ambition. Local entrepreneurs and leaders are growing a diverse, inclusive and thriving economy in the region. By investing in some of the Island’s most innovative organizations and championing leaders in areas such as ocean technology and Indigenous tourism, PacifiCan is increasing B.C.’s competitiveness on the world stage, fostering unique cultural experiences, and creating enduring prosperity for British Columbians,” said Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada.

Additional Info

Media Contact : Canadian Manufacturing

Source : https://www.canadianmanufacturing.com/manufacturing/federal-government-invests-3-5m-in-vancouver-island-businesses-302652/

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