Partnerships between industry, government, and post-secondary institutions support a growing economy by providing training opportunities, facilitating knowledge-sharing, and finding new solutions. The Province provides funding to diverse partnership initiatives through the BC Knowledge Development Fund. Since 2001, government has invested over $520 million in research infrastructure through the fund, thus allowing for B.C.’s institutions and organizations to participate in the economy as knowledge hubs and drivers of innovation.
Some specific examples of how the Province fosters partnerships are:
- The $100-million BC Tech Fund, managed by Kensington Capital Partners, provides tech companies with access to early-stage venture capital so they can grow their business.
- The Natural Resources and Applied Science Endowment is a $50-million fund that supports research collaborations between universities and the private sector to find innovative solutions for social, environmental, and economic benefit to B.C.
- Investments in Mitacs, a national non-profit headquartered in B.C., support innovation through co-ordination of industry-university projects that focus on talent development.
There are now more than 100,000 people working directly in the technology sector, and the sector continues to grow at a pace beyond that of the general economy. We want to ensure that we are creating the talent that will spark continued growth in the sector – and ensure British Columbians are prepared to be first in line for jobs and career opportunities. To that end, we are developing a number of initiatives to ensure more home grown talent that will support more investment opportunities in the innovation economy