A $1 million investment by the Province of British Columbia, through the BC Innovation Council (BCIC) was announced by Accelerate Okanagan Technology Association today.
The funding, over a 30 month period, will provide new and early stage technology companies throughout the Okanagan with continued access to the Venture Acceleration Program (VAP), a key offering by partners of the BCIC Acceleration Network (BCIC AN). The Network is a province-wide alliance of regional partners collaborating to deliver a structured venture growth program (VAP) to technology entrepreneurs.
Jeff Keen, Accelerate Okanagan CEO said, “Accelerate Okanagan has been a proud partner of the BCIC Acceleration Network since its beginning. This funding will be used to deliver the VAP to high-growth technology companies across the Okanagan, accelerating the commercialization of technology and spurring the rapid growth of new ventures.”
“For tech entrepreneurs, getting to a point of sustained profitability is extremely difficult. Our programs have been developed to support technology entrepreneurs through the early stages of business development, reduce their risk and guide them through the challenges of growing a sustainable business. We are very pleased to benefit from the support of the Provincial Government through BCIC. The impact of this support will be significant, enhancing local economic development and growing jobs in the Okanagan, B.C.’s third largest technology sector,” added Keen.
Accelerate Okanagan supports the growth and acceleration of local startups and early stage companies in the gaming, animation, mobile, web, life sciences and clean energy sectors to commercialize new technologies. The Venture Acceleration Program and AO’s Jump:Start:Challenge have benefited over 68 companies over the past 18 months, creating 172 jobs and raising over $4.0M million in funding and investment capital right here in the Okanagan. Hundreds of Okanagan companies have benefited from AO’s services, events and activities in its effort to help build the technology community and local entrepreneurial eco-system.