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Provincial money aids tech firms
December 18th 2015 at 08:08 AM
Nanaimo News Bulletin posted Dec 17, 2015
A $100-million technology fund could fertilize Nanaimo’s growing technology sector. B.C. Premier Christy Clark announced the venture capital fund, a component in the government’s strategy to diversify B.C.’s economy, Dec. 8. 

Paris Gaudet, executive director for Nanaimo’s Innovation Island, said companies that could take advantage of the fund have well-developed products and customer bases, but have reached the point where they must rapidly scale up production and market penetration. 

The venture capital fund aims to keep B.C. companies and attract skilled workers, support companies and services, rather than relocating to larger markets and taking jobs and talent with them. “Based on what we’ve seen, the work we’ve done, the companies that we have in our roster right now, there’s two or three that are ready to take things to the next level,” Gaudet said. 

One of those companies is Resonance Software Inc., which developed WorkSight, a software suite that calculates employee pay and scheduling and is used extensively by the forestry and pulp and paper industries.