SOURCE: Vancouver Economic Commission

Vancouver Economic Commission

November 27, 2015 13:30 ET

Vancouver Opens Canada's First Chinese Clean Tech Innovation Centre

China Canada Clean Tech Innovation Centre Will Provide Local Clean Tech Ventures With Access to Chinese Market and Almost $15M Venture Capital Funding Within First Year

VANCOUVER, BC--(Marketwired - November 27, 2015) - The Vancouver Economic Commission (VEC) today announced the Hanhai Zhiye Group, a high-tech investment group based in China, is launching the China Canada Clean Tech Innovation Centre (CCCIC). The CCCIC will create new opportunities for startups and advanced technologies in Vancouver's Clean Tech sector, and its Technology sector in general, through venture capital funding of up to $15M in the first year and access to China's thriving Clean Tech market.

"Vancouver's focus on innovation, our successful Greenest City 2020 Action Plan, and our deep ties to the Asian market make us the ideal city to host this new centre," said Gregor Robertson, Mayor of Vancouver. "Hanhai Zhiye will provide another significant boost to Vancouver's fast-growing economy and clean technology sector, while the City and our partners continue to collaborate to advance exciting new market opportunities in China."

Hanhai and the founding partners Tsinghua Holdings Co. Ltd and affiliates, Jilin Ruite Environmental Protection Group and Henan New Future Investment Inc. will provide an initial investment of $4.25M to launch the CCCIC, which will operate out of Simon Fraser University's (SFU) VentureLabs facility. The additional venture fund of $15M is on track to be secured by summer of 2016. With total assets over $30B Canadian, Tsinghua Holdings Co. is among the top 500 enterprises in China and has deep connections within the Asian market.

"We looked at many different Canadian cities and chose Vancouver because of its impressive technology sector and focus on innovation and the environment," said Hanguang Wang, Chairman of the Hanhai Zhiye Group. "There is a large market for Clean Tech in China and it is our intent to foster, seed and help commercialize some of the most innovative technologies coming out of Vancouver."

The announcement is the result of an MOU signed last June between Hanhai Zhiye and the VEC, which focused on bringing new investment opportunities and funding access to Vancouver's booming Technology and Clean Tech industries.

"We are proud to have brought this partnership to Vancouver, which will not only provide access to capital for local Clean Tech businesses, but offer unparalleled access to one of the largest markets in the world," said Ian McKay, CEO of the VEC. "The Clean Tech sector is the fastest-growing in the country. The launch of the centre will further advance research and development in this area and build on our valuable business relations with China."

In addition to the CCCIC, Hanhai and SFU recently announced their plans to launch the China-Canada Commercialization and Acceleration Network (C2-CAN). The C2-CAN program will connect technology innovators and entrepreneurs with the people, programs, and resources needed to accelerate venture growth in both countries.

"Through this partnership, SFU will contribute its Clean Tech and other research strengths, and its innovation and entrepreneurship know-how, to commercialize technology that responds to real needs in the global marketplace," said Joy Johnson, SFU's Vice-President, Research. "We are delighted to welcome Hanhai into SFU's longstanding relationship with China, and to engage our SFU Innovates network internationally in the open flow of ideas and synergies that bring social, economic and environmental benefits to both countries."

About Hanhai Zhiye Group
Hanhai Zhiye is a high-tech investment management company. Since its establishment, every step of its development and progress has been supported and helped through the embodiment of hard work and wisdom from all walks of life. In recent years, Hanhai Zhiye have been making efforts to build an international science and technology service platform that "hatches globally for cross-border acceleration." In China, they have established five national-level technology incubators with 300,000 square meters technological parks, linking global innovation resources to achieve cross-border acceleration. In other countries, they have established and run a Sino-US Park, Sino-German Park, Sino-Canadian Park, etc., to explore and lead the international development of China's technology incubators continuously. Moreover, Hanhai Zhiye is not just an enterprise and an undertaking, but it's a responsibility. They continue to implement the business philosophy of a "business that expresses thought and achieves a sense of accomplishment for one's self and others," remain down-to- Earth, and forge ahead to become a respected, world-class multinational group that focuses on science and technology park construction.

About the Vancouver Economic Commission (VEC)
The Vancouver Economic Commission works to position Vancouver as a globally recognized city for innovative, creative, and sustainable business. Specifically by strengthening the tech, digital entertainment, and green economy sectors through strategic programs and initiatives that address each stage of the business growth continuum.

About Simon Fraser University (SFU)
As Canada's engaged university, SFU is defined by its dynamic integration of innovative education, cutting-edge research and far-reaching community engagement. SFU was founded 50 years ago with a mission to be a different kind of university-to bring an interdisciplinary approach to learning, embrace bold initiatives, and engage with communities near and far. Today, SFU is Canada's leading comprehensive research university and is ranked one of the top universities in the world. With campuses in British Columbia's three largest cities -- Vancouver, Burnaby and Surrey -- SFU has eight faculties, delivers almost 150 programs to over 35,000 students, and boasts more than 135,000 alumni in 130 countries around the world. SFU Innovates (www.sfu.ca/innovates) is the university-wide strategy to inspire, develop and support impact-driven innovation and entrepreneurship.

Quick Facts

  • Clean Tech is Canada's fastest-growing sector (Source: Analytica Advisors)
  • BC is a leading province in Clean Tech with an industry worth over $2B, 200 companies, and over 6,000 people employed (Source: Analytica Advisors/KPMG Tech Report Card)
  • Clean Tech jobs have grown by 8% in Vancouver over the past three years (Source: Vancouver Economic Commission)
  • Metro Vancouver has 75,000 tech workers, and projects another 15,000 by 2019 (Source: ICTC)
  • Vancouver attracted over half a billion dollars in venture capital last year (Source: Vancouver Economic Commission)
  • Vancouver is one of the top 20 startup ecosystems in the world (Source: Startup Compass)
  • Vancouver has three of Canada's five unicorns (startups valued at over $1bn): Avigilon, Hootsuite, Slack (Source: Vancouver Economic Commission)
  • The Vancouver Economic Commission (VEC) estimates that there are over 250 new startups each year in Vancouver (Source: Vancouver Economic Commission)

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