Innovate BC has awarded $2.5 million to projects submitted by Dec. 21.
Early-stage companies often face a challenge at the start: how to get money to validate their idea. Last week, the Province of British Columbia announced new funding to help these companies bridge the gap.
Royal Innovate BC announced on November 28 that it had launched early stage demo call this will cover up to 40 per cent of the costs (up to $500,000) for eligible SMEs to conduct pilot demonstrations of technology originating in British Columbia.
“Do I think the federal government should pay more attention to British Columbia companies? Yes, absolutely.”
British Columbia Minister of Artificial Intelligence Rick Glumak
Innovate BC has committed $2.5 million for the first round of applications, which closes Dec. 21. Another round of applications will open next year, but the cost of this round has not yet been determined. The tests will be conducted through Innovate BC, an integrated marketplace that connects companies with organizations such as Vancouver International Airport and provincial health services so they can test their projects in real-world scenarios and help them become commercially viable.
British Columbia's Artificial Intelligence Minister Rick Glumak told BetaKit on Tuesday that the Integrated Marketplace has had tremendous success helping companies prove their technology and showcase it around the world. This program will facilitate this by connecting with companies at an even earlier stage, giving them the opportunity to try out their technology and take that technology to where it is commercially ready.
According to Glumak, there are more than 12,000 technology companies operating in British Columbia, employing more than 200,000 people, and most of these companies are in the early stages of development.
“We recognize that there is an incredible amount of innovation going on,” Glumak said in an interview. “So recognizing that so many companies have so much potential… if we can help some of the most promising early-stage companies, it will create an even stronger ecosystem.”
He pointed to A&K Robotics, which makes small autonomous vehicles that help travelers with limited mobility navigate airports. Integrated marketplace linked A&K Robotics to Vancouver Airport; Last month, A&K announced that its technology would be trialled at Madrid-Barajas, Europe's second-largest airport.
In July, Glumak became head of the province's newly created artificial intelligence (AI) ministry. He says he has had several opportunities to reach out to federal AI Minister Evan Solomon since taking over the portfolio, and that he hopes to maintain an ongoing dialogue between British Columbia and Ottawa.
In recent weeks, Solomon has faced questions from critics over federal funding of foreign multinationals with a presence in Canada; some business leaders, such as Shopify's Tobi Lütke, have suggested directing that money to local companies instead.
“Do I think the federal government should pay more attention to British Columbia companies? Yes, absolutely,” Glumak told BetaKit when asked about criticism of Solomon. He added that as the United States has tightened up on immigration, he has begun to see growth opportunities for Vancouver's tech scene. “Anything we can do to support Canadian companies and British Columbia companies in particular, now is the time to do it.”
The pilot projects are expected to last one year and show they can deliver results such as increased productivity and other benefits that will help grow B.C.'s economy.
Interested enterprises can apply via the Innovate BC website.
Image courtesy of Innovate BC.
