Cranbrook Chamber of Commerce Applauds the Province’s $100-million Investment Fund for B.C.’s Tech Sector
Cranbrook, December 9, 2015 – The Cranbrook Chamber of Commerce welcomes the announcement of a $100-million venture capital fund for B.C.’s technology sector, building on the continued momentum found in the BC Jobs Plan for one of the fastest growing industries in the province.
“This announcement further strengthens our province by continuing to diversify B.C.’s economy. The multi-billion dollar tech sector is a huge economic driver in B.C. and a major employer in many regions across the province,” said David D, Hull Executive Director of the Cranbrook Chamber of Commerce. “Building upon this success, the provincial government is laying the groundwork to foster future growth in this sector.”
This $100-million venture capital fund provides entrepreneurs and start-up tech companies needed access to capital funding, enabling them to become future job-creators and thus strengthening communities in our province.
“The tech sector is growing rapidly in British Columbia, in many cases faster than the overall provincial economy, and facilitating a channel for more opportunities in this sector is the right move. We need to ensure the transition from innovation to market,” added Hull.
The new BC Tech Fund is the first pillar, along with enhancing the talent pool and increasing access to markets, which will all be unveiled in the complete BC tech strategy in January. Building on support for start-up tech companies, such as the digital animation and visual effects tax credit, this fund is great news for a sector of the economy that can help push for greater productivity and innovation.