Richard Egli, managing director of Alacrity Canada, is joined by B.C. Finance Minister Carole James, Alacrity Foundation chairman Owen Matthews and federal Minister of Small Business and Tourism Bardish Chagger at an announcement Monday of provincial and federal funding for Alacrity, a Victoria-based non-profit that promotes technological entrepreneurship. Kristyn Anthony/VICTORIA NEWS

Federal, provincial ministers in Victoria to announce clean tech funding

Collaboration will invest $785,000 into start-ups, including Victoria-based Alacrity Canada

The federal government pledged Monday to invest in clean technology, announcing $785,000 for Alacrity Canada, a Victoria non-profit that promotes entrepreneurial efforts in the field of technology.

Bardish Chagger, Canada’s Minister of Small Business and Tourism was joined by B.C. Finance Minister Carole James at the Alacrity Foundation to express support for generating jobs and growth across Western Canada.

“As the economy changes, as innovation transforms traditional sectors and creates new industries that we couldn’t have imagined 20 years ago, there remains an important role for government,” Chagger said. “We must work together to make key investments so that our workers have the skills they need to excel in the modern economy.”

In B.C., the industry is thriving. There are over 270 clean tech companies within the province that account for 25 per cent of the country’s clean tech sector, generating over $2.8 billion in annual revenue.

Many of these companies are market ready but require additional support before moving to the next level of success, Chagger said. With Alacrity, they will develop investment strategies to increase sales and create more middle class jobs across B.C.

Since 2009, the Alacrity Foundation in Victoria and Vancouver has employed more than 200 people through mentorship, bringing together passionate entrepreneurs and investors to build thriving companies.

James announced that the province will provide $75,000 to help launch the program. “B.C.’s clean tech presence isn’t only good for the economy, it’s also an investment in our future,” she said.

“These companies are reducing harmful environmental and health impacts while revolutionizing our mining, our forestry and our agriculture industries,” James added, citing Saltworks, a water technology company and Carmanah, a solar lighting manufacturer.

There is much opportunity for this sector to expand, she said, pointing out the industry is poised to grow by $3 trillion by 2020.

kristyn.anthony@vicnews.com

Just Posted

Challengers topple incumbents in several South Island races

2018 civic election ushers in new faces across the CRD

Victoria and Saanich voters elect to move ahead with amalgamation talks

Victoria and Saanich voters have chosen to move ahead with exploring amalgamation… Continue reading

Prank pizzas delivered to Victoria Mayor Lisa Helps’ campaign celebration

The fake orders happened throughout Helps’ campaign

Victoria gets back on the bike for week-long commute competition

Second Bike to Work Week hits the pavement Oct. 22 to 28

VIDEO: Tent city moves to Woodwynn Farm, arrests made

The group is asking the government to provide housing for 60 tent city members

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

Crime Stoppers most wanted for Greater Victoria for Oct. 19

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Do you support amalgamation for communities in the Capital Region?

Residents in Victoria and Saanich will be voting on Oct. 20 on… Continue reading

2018 municipal election: Few surprises on Vancouver Island

16 incumbent mayors will continue in their positions for four more years

MLA to become Nanaimo’s next mayor, could weaken NDP’s grasp on power

Leonard Krog’s win will trigger a byelection when he gives up his provincial seat

Horvat nets OT winner as Canucks beat Bruins 2-1

Young Vancouver star had spirited scrap earlier in contest

Team Canada gold medal winners for first time in world curling championship

Team Canada earned gold in Kelowna at the 2018 Winn Rentals World Mixed Curling Championship

Payette invites critics to ‘come and spend a few days’ with her

Governor General Julie Payette made her first official to B.C. back in March

More pot stores expected in B.C. in coming ‘weeks and months’: attorney general

Attorney General David Eby and Public Safety Minister Mike Farnworth visited the new BC Cannabis Store in the province’s Interior

Most Read