An investment of more than $8.1 million has been announced for seven Greater Victoria ocean organizations by the Canadian government.
The announcement was made by Minster of International Development Harjit Sajjan on Tuesday (June 27) at the Oak Bay Marina.
“British Columbia has both the talent and natural resources to create diverse, inclusive and thriving economies in all corners of the province,” Sajjan said. “By investing in some of Vancouver Island’s most innovative organizations, and bringing together leaders in emerging industries such as ocean technology, life sciences and clean energy, PacifiCan is propelling partnerships and prosperity across British Columbia.”
An estimated $5.7 million of the funds is going to four organizations through the Pacific Economic Development Agency Canada’s (PacifiCan) Regional Innovation Ecosystems (RIE) program. Some $2.2 million is for two companies that will go through the Business Scale-Up and Productivity program.
The South Island Prosperity Partnership (SIPP) was alongside Sajjan to make the announcement. SIPP is one of the four organizations part of the RIE program and will receive $3 million to establish a new Centre for Ocean Applied Sustainable Technologies (COAST) and support activities led by the Indigenous Prosperity Centre (IPC)
“As our global population continues to increase and climate change becomes more of an urgent issue, we’re just going to be asking more and more from our oceans,” says SIPP Group CEO, Emilie de Rosenroll. “From transportation, energy, recreation and everything in between, so COAST and the Indigenous Prosperity Center are really going to help us move into the future and make our economy more resilient.”
COAST plans to expand B.C.’s emerging ocean technology sector by bringing together entrepreneurs, governments, researchers and industry partners to address climate challenges and boost the local ocean economy.
“We are very grateful for PacifiCan’s investment into SIPP to further establish COAST and the IPC. Together with leveraged support from the private sector, this investment accelerates climate-conscious ocean and marine innovation along with Indigenous strengths in marine stewardship in order to realize Pacific Canada’s position as a leader in the global blue economy,” said De Rosenroll.
ALSO READ: Canada is investigating why the Titanic-bound submersible imploded
