Premier announces tech & innovation investments to spark economic growth & job creation
Great news came out of last week’s #BCTECH Summit in Vancouver with the announcement of significant tech and innovation investment by Premier John Horgan. Understanding the importance of technology to the economy of British Columbia, and to help spark B.C. innovation, economic growth and new jobs throughout the province, the provincial government is putting money towards tech-based research and advanced training opportunities.
“B.C. succeeds when British Columbians succeed — and our province’s tech sector is proving that every day,” said Premier Horgan, adding that the sector has over 10,000 companies employing more than 106,000 people.
“Our job is to provide opportunities and partnerships that help companies and individuals innovate, succeed and grow. This approach delivers more jobs and a stronger economy, and helps support health care, education, housing and other public services that make British Columbia a great place to live and work.”
Over $102.6 million will be earmarked for 75 post-secondary research projects in B.C., through the B.C. Knowledge Development Fund (BCKDF). The projects will develop B.C.’s expertise and innovation in fields such as advanced supercomputing and clean technology, to spur job creation, talent development and commercialize innovation.
To attract and retain the best graduate students, the B.C. government will invest $12 million in graduate degree scholarships over the next three years. The funding will support priority areas such as science, tech, engineering and mathematics programs, as well as Indigenous students and regional programs. The Province will also invest in women-in-technology scholarships to inspire a new generation of women to take up science and tech-based professions.
To further develop tech talent, $10.5 million will be invested in co-op opportunities and entrepreneurial training for post-secondary students, so they can gain vital hands-on experience to be job-ready when they enter the tech sector.
“B.C.’s success comes from the ideas, innovation and inspiration of people who call this province home,” said Bruce Ralston, Minister of Jobs, Trade and Technology. “From a two-person startup, to large established tech firms and traditional resource industries, innovation can deliver a wealth of benefits to people, companies and our provincial economy. It is about creating good jobs for people in every corner of the province.”
To help make it easier for tech companies to recruit top international talent to B.C., government will expand its Provincial Nominee Program Tech Pilot. That means priority processing for people in tech occupations, such as biotechnologists, software engineers and web developers.
“Investing in innovation is the best thing we can do to set our province up for success,” said Andrew Weaver, BC Green Party leader. “Technology is driving global growth and has the potential to add value to every sector of B.C.’s economy. This minority government is a unique opportunity to come together to champion a bold vision for the future of our province, and I am proud to be working in partnership with the government to support our tech sector.”
The B.C. government will unveil a provincewide tech strategy next year that will help provide all people with the ability to work and prosper in the communities they call home. In turn, the Province will invest in health care, education, housing and other public services that make B.C. a great place to live and work.
The Province of British Columbia is hosting the third-annual #BCTECH Summit on May 14-16, 2018, in partnership with Innovate BC, the Province’s Crown agency. Innovate BC encourages the development and application of advanced or innovative technologies to meet the needs of B.C. industry.
Melanie Mark, Minister of Advanced Education, Skills and Training, “As part of our tech-expansion, we’re adding 2,900 more tech spaces, launching a graduate student scholarship fund and providing awards for women pursuing a science or tech-based profession. We’re breaking down barriers to good-paying jobs for people in the booming tech sector by making post-secondary education more accessible and affordable.”
Jinny Sims, Minister of Citizens’ Services, “Having access to reliable, high-speed internet is the foundation for the growing digital economy, and essential for the expansion of technology and innovation in every corner of our province. It is important that this growing sector be fostered everywhere in B.C. That is why we are investing in connectivity for rural, remote and Indigenous communities, because we believe that everyone — no matter where they live — should have the tools they need to be part of this important industry.”
- The tech sector in B.C. is one of the fastest growing sectors of its economy, supporting over 106,000 good-paying jobs. It is home to more than 10,200 businesses.
- Over 83,400 tech-related jobs openings are expected by 2027 — jobs such as computer programmers, engineers, information system analysts and software designers.
- In January 2018, the B.C. government announced 2,900 tech-related spaces that will produce 1,000 additional tech-grads a year by 2023, to improve access to training and education. This includes the first full civil and environmental engineering program in the North at the University of Northern British Columbia, and the first full software engineering program in the Interior at Thompson River University. To support these new spaces, the Ministry of Advanced Education, Skills and Training plans to increase investment up to $42 million a year in ongoing funding.
- In April 2018, the B.C. government partnered with the Government of Canada to provide B.C. biotechnology company STEMCELL Technologies with $45 million to create up to 2,170 B.C. jobs by 2031, and build a state-of-the-art manufacturing facility in Burnaby.
- Also in April 2018, the Province, together with the federal government and the Alacrity Foundation, provided the Cleantech Scale-Up program with over $787,000 to help promising clean tech companies throughout B.C. get investment-ready and sell to new markets.
- In February 2018, Alan Winter was appointed B.C.’s first innovation commissioner as an advocate for the tech and innovation sector in Ottawa, the Cascadia Innovation Corridor and abroad.