Western Economic Diversification Canada

Western Economic Diversification Canada

March 03, 2015 14:00 ET

Harper Government Investment Supports Growth in Innovative B.C. Business

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 3, 2015) - Western Economic Diversification Canada

Today, the Honourable Michelle Rempel, Minister of State for Western Economic Diversification, announced $900,000 in funding to the Alacrity Foundation of British Columbia (Alacrity) to drive economic growth and facilitate United States (U.S.) investments for small- and medium-sized enterprises (SMEs) in Western Canada. Specifically, this project will focus on B.C.'s technological SMEs within three sectors: wireless, clean technology and life sciences.

With the funding, Alacrity will connect growth-oriented B.C. companies with U.S. venture capital firms that have strong industry knowledge and connections to relevant markets, and coach them to a point where they are U.S. investor-ready. Alacrity will also maintain a presence in Silicon Valley, and leverage this along with existing partner networks in the venture capital industry, and facilitate meetings between both parties to evaluate agreements and plan for future growth.

Through this project, Alacrity will provide a direct link for Silicon Valley venture capital firms to invest in growing companies from Western Canada. Silicon Valley is the heart of the worldwide venture capital investment network and establishing a presence there for Canadian companies will create major opportunities for economic activity.

Quick Facts

  • Alacrity strengthens B.C.'s science, technology and innovation communities by driving entrepreneurship and commercialization of innovation and providing entrepreneurship training.

Quotes

"Our Government is committed to ensuring western Canadian businesses have access to global markets. This project will enhance the Canadian tech industry and create key links with the United States to benefit Canadian businesses."

  • The Honourable Michelle Rempel, Minister of State for Western Economic Diversification

"We are very excited to be launching the Alacrity Investor Readiness Program in partnership with Western Economic Diversification Canada. Ensuring that growing companies have access to capital is vital to their success and this program specifically targets that need."

  • Owen Matthews, Chairman, The Alacrity Foundation of British Columbia

Additional Links

Subscribe to news releases and keep up-to-date on the latest from WD. Follow us on Twitter at @WD_Canada.

The West Means Business.

IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.

Contact Information