BC government to create $100 million venture capital fund
The Province of British Columbia announced earlier this month that is creating a $100-million venture capital fund to help form a comprehensive technology strategy aimed at stimulating growth in the tech sector, creating jobs and strengthening a diverse economy.
The new BC Tech Fund is part of the first of three economy-building pillars in the B.C. government’s multi-year #BCTECH. The three pillars are: Capital, Talent and Markets.
“B.C.’s technology sector is consistently growing faster than the overall economy making this the perfect time to catch the wave and help smaller companies join in the ranks of economy builders,” said BC’s Premier Christy Clark in a statement. “With this fund we’re creating a stronger foundation for B.C.’s technology sector, which is a major employer in communities across the province, to shine on the global stage while creating well-paying jobs back at home for British Columbians.”
In British Columbia, the technology sector directly employs more than 86,000 people, and wages for those jobs are 60% higher than the province’s industrial average. In 2013, the technology sector added $13.9 billion to B.C.’s GDP.
For more information on #BCTECH Strategy, click here.