On October 16, 2023, the Pacific Economic Development Agency of Canada (PacifiCan), announced over $3 million in funding for four projects that will support small and medium-sized businesses, including $1.75 million in funding for Composites Knowledge Network.
“The Composites Knowledge Network (CKN) is proud to be supporting a wide range of innovative BC small and medium enterprises (SMEs) working with composite materials and technologies,” explains Dr. Anoush Poursartip, Co-Director, Composites Knowledge Network.
“This PacifiCan funding will enable us to better support even more SMEs in the BC and Pacific region, leading to exciting opportunities for their sustainable growth in sectors that reflect our local and national values and priorities.”
CKN will use the funding to purchase new equipment and provide support for businesses in a variety of sectors, including outdoor recreation, clean tech and aerospace.
Read on or click here for the full release.
Government of Canada invests over $3 million to grow British Columbian businesses and build a skilled workforce
The University of British Columbia and Small Business BC are among the organizations receiving funding to help B.C. businesses grow locally and compete globally
October 16, 2023 – Vancouver, British Columbia – PacifiCan
British Columbia’s small businesses are the heart of our communities and the economic engine of our province. To continue fueling the entrepreneurial spirit of British Columbians, the Government of Canada is making investments in organizations that help businesses grow.
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced over $3 million in funding for four projects that will support small and medium-sized businesses and help workers improve their technical skills.
Minister Sajjan made the announcement while visiting the Composites Knowledge Network at the University of British Columbia (UBC). The Network is receiving over $1.7 million in PacifiCan funding to help small and medium-sized businesses become leaders in composites manufacturing. Composites, materials made of two or more different materials, are transforming industries from health care to construction. However, composites can be costly and complex to create. The Composites Knowledge Network is reducing these barriers for businesses. With this funding, the Network will expand its operations and provide training for businesses across B.C.
This announcement marks the beginning of Small Business Week, an annual celebration of entrepreneurs, dreamers and do’ers across Canada. As part of today’s announcement, Small Business BC is also receiving $695,000 in PacifiCan support for two initiatives. This funding will allow Small Business BC to expand its digital services and provide more visibility for businesses that are led by members of underrepresented communities.
For the full list of projects, please see the backgrounder here.
Today’s announcement is expected to support over 1,000 small and medium-sized businesses, provide training for over 600 professionals and create over 80 jobs.