Over the last two years, Industrial Research Assistance Program has invested over $115.2 million in innovative B.C. companies supporting good jobs in the province
VANCOUVER, BC, July 28, 2021 /CNW/ – Innovation, Science and Economic Development Canada
As Canadians begin to look toward economic recovery, Canada’s small and medium-sized enterprises (SME) will be the backbone of economic growth in communities across the country. These firms are already supporting more than 10 million jobs for Canadian workers, and many of them are making groundbreaking discoveries to improve Canadians’ lives and drive innovation and technology. To achieve even greater success, these firms need funding, advice and connections to gain capital, increase expertise and scale up.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, visited Aspect Biosystems Ltd., a company receiving support through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), to highlight how the government is providing critical support to British Columbia’s innovative SMEs. Aspect Biosystems is receiving up to $1,122,127 to support two innovative projects: integrating unique 3D bioprinting technology to develop implantable cardiac and pancreatic therapeutic tissues; and developing novel 3D printing technologies enabling the fabrication of implantable tissues that can engraft and be vascularized in living organisms.
Some further notable B.C.-based projects to benefit from the program’s research and development funding assistance include the following:
Over the last two years, NRC IRAP has provided advisory services and over $115.2 million in research and development funding to B.C.-based SMEs, helping them grow, build their innovation capacity and successfully take ideas to market.
During the COVID-19 pandemic, the Innovation Assistance Program was put in place to help innovative firms keep their doors open, keep their employees on the payroll, and recover quickly. Over 400 innovative firms in British Columbia have received support of approximately $73 million under this program.
“We know that supporting innovative Canadian businesses and entrepreneurs is critical to spurring our economic recovery and to creating good jobs in communities across Canada. That’s why we made significant investments in IRAP to support innovative firms across Canada. British Columbia is home to one of Canada’s leading innovation ecosystems, and this investment will be critical to supporting companies with world-class ideas that need access to funding, expertise and networks to further their innovations.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
“The success of Canada’s economy depends on the growth of Canadian businesses that innovate and take their products and services to global markets. The National Research Council of Canada Industrial Research Assistance Program helps Canadian small and medium-sized businesses pursue this goal through comprehensive advisory services, research and development funding, and connections to Canadian and international opportunities across all sectors.”
– Mitch Davies, President, National Research Council of Canada