The Province of British Columbia, through the BC Innovation Council, has invested $1 million in the Accelerate Okanagan Technology Association.
Accelerate Okanagan will receive the BCIC funding over a 2.5-year period. The organization says the investment will provide new and early stage technology companies throughout the Okanagan with continued access to the Venture Acceleration Program.
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. It has benefited 68 companies over the past 18 months, creating 172 jobs and raising over $4 million in funding, according to the organization.
“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," Jeff Keen, Accelerate Okanagan CEO, said.
“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. 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," he added.