BC Government: Premier announces tech and innovation investments to spark economic growth, job creation
May 16, 2018
VANCOUVER – To help spark B.C. innovation, economic growth and new jobs, the provincial government is investing in tech-based research and advanced training opportunities in all parts of the province, Premier John Horgan announced today at the #BCTECH Summit.
“B.C. succeeds when British Columbians succeed — and our province’s tech sector is proving that every day,” said Premier Horgan, adding that the sector has over 10,000 companies employing more than 106,000 people.
“Our job is to provide opportunities and partnerships that help companies and individuals innovate, succeed and grow. This approach delivers more jobs and a stronger economy, and helps support health care, education, housing and other public services that make British Columbia a great place to live and work.”
The Province announced that it is investing over $102.6 million in funding for 75 post-secondary research projects in B.C., through the B.C. Knowledge Development Fund (BCKDF). The projects will develop B.C.’s expertise and innovation in fields such as advanced supercomputing and clean technology, to spur job creation, talent development and commercialize innovation.
To attract and retain the best graduate students, the B.C. government will invest $12 million in graduate degree scholarships over the next three years. The funding will support priority areas such as science, tech, engineering and mathematics programs, as well as Indigenous students and regional programs. The Province will also invest in women-in-technology scholarships to inspire a new generation of women to take up science and tech-based professions.
To further develop tech talent, $10.5 million will be invested in co-op opportunities and entrepreneurial training for post-secondary students, so they can gain vital hands-on experience to be job-ready when they enter the tech sector.
“B.C.’s success comes from the ideas, innovation and inspiration of people who call this province home,” said Bruce Ralston, Minister of Jobs, Trade and Technology. “From a two-person startup, to large established tech firms and traditional resource industries, innovation can deliver a wealth of benefits to people, companies and our provincial economy. It is about creating good jobs for people in every corner of the province.”
To help make it easier for tech companies to recruit top international talent to B.C., government will expand its Provincial Nominee Program Tech Pilot. That means priority processing for people in tech occupations, such as biotechnologists, software engineers and web developers.
“Investing in innovation is the best thing we can do to set our province up for success,” said Andrew Weaver, BC Green Party leader. “Technology is driving global growth and has the potential to add value to every sector of B.C.’s economy. This minority government is a unique opportunity to come together to champion a bold vision for the future of our province, and I am proud to be working in partnership with the government to support our tech sector.”
The B.C. government will unveil a provincewide tech strategy next year that will help provide all people with the ability to work and prosper in the communities they call home. In turn, the Province will invest in health care, education, housing and other public services that make B.C. a great place to live and work.
The Province of British Columbia is hosting the third-annual #BCTECH Summit on May 14-16, 2018, in partnership with Innovate BC, the Province’s Crown agency. Innovate BC encourages the development and application of advanced or innovative technologies to meet the needs of B.C. industry.
Melanie Mark, Minister of Advanced Education, Skills and Training –
“As part of our tech-expansion, we’re adding 2,900 more tech spaces, launching a graduate student scholarship fund and providing awards for women pursuing a science or tech-based profession. We’re breaking down barriers to good-paying jobs for people in the booming tech sector by making post-secondary education more accessible and affordable.”
Jinny Sims, Minister of Citizens’ Services –
“Having access to reliable, high-speed internet is the foundation for the growing digital economy, and essential for the expansion of technology and innovation in every corner of our province. It is important that this growing sector be fostered everywhere in B.C. That is why we are investing in connectivity for rural, remote and Indigenous communities, because we believe that everyone — no matter where they live — should have the tools they need to be part of this important industry.”
- The tech sector in B.C. is one of the fastest growing sectors of its economy, supporting over 106,000 good-paying jobs. It is home to more than 10,200 businesses.
- Over 83,400 tech-related jobs openings are expected by 2027 — jobs such as computer programmers, engineers, information system analysts and software designers.
- In January 2018, the B.C. government announced 2,900 tech-related spaces that will produce 1,000 additional tech-grads a year by 2023, to improve access to training and education. This includes the first full civil and environmental engineering program in the North at the University of Northern British Columbia, and the first full software engineering program in the Interior at Thompson River University. To support these new spaces, the Ministry of Advanced Education, Skills and Training plans to increase investment up to $42 million a year in ongoing funding.
- In April 2018, the B.C. government partnered with the Government of Canada to provide B.C. biotechnology company STEMCELL Technologies with $45 million to create up to 2,170 B.C. jobs by 2031, and build a state-of-the-art manufacturing facility in Burnaby.
- Also in April 2018, the Province, together with the federal government and the Alacrity Foundation, provided the Cleantech Scale-Up program with over $787,000 to help promising clean tech companies throughout B.C. get investment-ready and sell to new markets.
- In February 2018, Alan Winter was appointed B.C.’s first innovation commissioner as an advocate for the tech and innovation sector in Ottawa, the Cascadia Innovation Corridor and abroad.
A backgrounder follows.
Premier announces tech and innovation investments to spark economic growth, job creation
The Government of British Columbia is continuing to support B.C.’s thriving technology and innovation sector to create good jobs, establish B.C. as a preferred location for new and emerging technologies, and attract investment to the province.
The government is working to provide people with opportunities and form partnerships that can help B.C. companies and individuals do what they do best — move ideas from the drawing board to the marketplace. The following investments will develop future talent, support research and innovation, and help B.C. companies better compete globally.
Developing future talent
Graduate student scholarships:
- A $12-million fund for graduate degree scholarships that will support priority areas such as science, tech, engineering and mathematics programs, as well as Indigenous students and regional programs.
- The scholarship fund will support up to 800 awards of $15,000 for students in graduate degree programs over the next three years.
Women in technology scholarships:
- Beginning in 2018, nine scholarships of $10,000 each for women in technology, and one for Indigenous women in technology, will be awarded through the Irving K. Barber Society.
- These awards will inspire a new generation of women to consider science and technology-based professions.
Job training for students and entrepreneurs:
- $10.5 million to extend the B.C. Tech Co-op Grants program and Innovator Skills Initiative until 2021.
- Innovate BC will provide B.C. companies with grants so students can develop hands-on skills and gain valuable tech-related work experience.
- The extension of the programs will help employ thousands of B.C. post-secondary students over the next three years, to supplement their education and make them more job-ready for future tech careers.
- Employers providing B.C. post-secondary students with entrepreneurial training, skills and experience to learn how to run a successful business can also receive funding.
Post-secondary research and innovation infrastructure:
- Over $102.6 million in B.C. Knowledge Development (BCKDF) funding for 75 post-secondary research projects throughout B.C.
- BCKDF funding also leverages support from the federal government and other partners, providing B.C. researchers with a total of more than $265.5 million in state-of-the-art equipment.
- The research projects will develop B.C.’s expertise and innovation in fields such as advanced supercomputing and clean technology, among many others to spur job creation, talent development and commercialize innovation.
Helping B.C. companies compete
Provincial Nominee Program Tech Pilot extension:
- The Provincial Nominee Program (PNP) Tech Pilot is being extended another year, to make it easier for tech companies to recruit top international talent by implementing weekly tech-only invitations for people working in the most in-demand tech occupations.
- Priority processing is available for jobs such as computer programmers, interactive media developers and software engineers.
- The tech pilot is being enhanced by allowing applicants with a tech job offer of one year or more to be eligible, instead of requiring a permanent job offer. This will support tech companies with project-based business models, such as animation and visual effects studios.
Extension of the Interactive Digital Media Tax Credit (IDMTC):
- The tax credit is being extended by five years to 2023, to continue supporting the thriving interactive augmented and virtual reality sector.
- The tax credit is available to eligible B.C. companies developing interactive, augmented and virtual reality products for entertainment and commercial use to clarify which products are eligible for the credit.
Deputy Communications Director
Office of the Premier
Ministry of Jobs, Trade and Technology