OCTOBER 12, 2018 | VANCOUVER, BC
Vancouver, October 12 2018 – Innovate BC, a Crown agency that connects local innovators with government funding, resources, and support, has awarded $944,600 through its Ignite program to spark the commercialization of technologies that will solve industry problems in the natural resources and applied sciences.
Four BC research projects in diverse fields such as clean technology, forestry, and agriculture will split the funding. To date, Innovate BC has awarded $4.3 million in Ignite funding since the program launched in 2016.
The successful projects were selected based on their promising commercial and technical viability as well as their ability to be market ready within three years. To be considered, projects must also address an industry problem with the potential for significant benefit to British Columbia and be realized by a group of academic and industry members.
“Congratulations to the winners of the 2018 Ignite Awards. The hard work and innovation that goes into these projects has the potential to make a real difference in the lives of the people,” said Bruce Ralston, Minister of Jobs, Trade and Technology. “The Ignite awards are crucial because they foster research and collaboration that help advance the natural resource and applied sciences sectors in B.C., which help to grow our strong provincial economy.”
A total of $3 million is being contributed to the four projects as a result of Innovate BC’s Ignite cost-shared funding model. Innovate BC Ignite requires applicants to leverage award funds at a ratio of two matching dollars to every Innovate BC Ignite dollar. More than $14 million, including leveraged funds, has been contributed to Ignite projects to date.
The Innovate BC Ignite Program has supported the hiring, training, and retention of more than 65 highly qualified personnel in the first two years of the program. Furthermore, several projects have reported that receiving the award has elevated the credibility of their research and helped attract additional investment.
“Ignite best exemplifies how Innovate BC supports local innovation, fosters collaboration, and funds market-driven research that can have a global impact,” says Shirley Vickers, Innovate BC President & CEO. “These projects have the potential to create jobs, transform industries, and push the boundaries of industrial innovation.”
The Ignite Program is funded by the Natural Resources and Applied Sciences (NRAS) Endowment Fund, which was established by the Province of British Columbia to enhance the quality of life for British Columbians by building strong environments in research and development, advanced training, technology transfer, and commercialization.
Several Ignite research projects will be featured at the #BCTECH Summit, which takes place March 11-13 at the Vancouver Convention Centre.
For more information about the program and winners, visit the Ignite program page.