Support will help British Columbia companies innovate, scale-up, and expand in Canada and around the world
DELTA, BC, Aug. 4, 2021 /CNW/ - Western Economic Diversification Canada
Innovative small and medium-sized enterprises (SMEs) across British Columbia are advancing in the areas of clean technology, digital economy, health sciences, and value-added agriculture. By supporting these SMEs, the Government of Canada is enhancing and strengthening the western Canadian economy.
Today, Terry Beech, Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard and to the Minister of Economic Development and Official Languages (B.C.), on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for Western Economic Diversification Canada, announced that 10 companies will receive support through the Business Scale-up and Productivity (BSP) program to grow these emerging sectors.
Together, these companies will receive a combined total of $20,699,782, including $4,000,000 for Big Mountain Foods Ltd. (BMF) to expand their operation by transitioning to a larger facility located in Delta, B.C. in order to meet the growing demand for their products. The company will also use the funds to commercialize a new innovative chickpea tofu product line, and implement a new marketing plan. With their goal of manufacturing 100 per cent Canadian-made products, the project will provide supply chain benefits to the country's plant-protein sector. Supporting BMF aligns with WD's value-added agriculture and food ingredients processing cluster priorities.
Kelowna-based Hyper Hippo Entertainment Ltd. (HHE) is another company receiving support through the BSP program to expand internationally into new global markets. Funding of $2,804,000 will enable HHE to create and publish mobile incremental games, which progress without requiring constant interaction with the player. Federal support will also help the company promote its popular mobile games to multiple non-English speaking countries. Plans include conducting market assessments to identify target markets, adopting cultural references to make games relevant in foreign languages, and developing sales strategies and establishing partnerships.
Supporting innovative firms in a variety of key sectors in Western Canada is a priority for Western Economic Diversification Canada (WD). By providing interest free, repayable funding to help qualified companies grow and expand, WD is delivering on the government's commitment to grow the western Canadian economy through regional innovation. In British Columbia, these investments will help create over 300 new jobs for middle-class Canadians and will ensure Canada's prosperity for decades to come.
The projects announced today include:
Big Mountain Foods
Expand operations and sales of
Globally expand sales and
marketing of handheld ultrasound
Clir Renewables Inc.
Expand operations and sales of a
renewable energy software
Develop machine learning
algorithms and increase sales of
fatigue risk management platform
FORM Athletica Inc.
Expand operations and sales of
smart swim goggles
Increase market share by
implementing new sales
strategies and product
Klue Labs Inc.
Increase staff and deliver
marketing plan for AI-driven
competitive intelligence software
Panevo Services Ltd.
Increase operational capacity to
expand software and consultancy
Portable Electric Ltd.
Increase manufacturing capacity,
sales, and marketing of electric
Increase customer acquisition
and retention for delivery route
TOTAL WD FUNDING $20,699,782
"All across Western Canada, companies are creating innovative solutions to important problems we are facing. By investing in these companies, we empower them to expand on the valuable work they do, while strengthening our economy and creating quality jobs for generations of Canadians."
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, and Minister responsible for Western Economic Diversification Canada
"Through the Business Scale-up and Productivity program, companies with great ideas can get the support they need to grow and develop. We are building up local expertise and the benefits will ripple across our communities."
- Terry Beech, Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard, and to the Minister of Economic Development and Official Languages (B.C.)
"Big Mountain Foods (BMF) is honoured to be included as a WD recipient to expand its operations and sales of innovative plant-based foods. By investing in BMF, WD is creating jobs, food security, and consumer confidence in the rapidly expanding allergen free and vegan sector. Furthermore, BMF has been able to scale its operations into a 70,000 square foot manufacturing and product development facility in British Columbia."
- Jasmine Byrne, President, Big Mountain Foods
"Hyper Hippo is one of Canada's leading creative video game studios, and we are thrilled to have the support of our federal government in our ongoing efforts to entertain billions of players around the world. WD funding is allowing us to expand internationally into new global markets. In doing so, it is our privilege to create new jobs for innovative Canadians and be a part of making Canada a leading contributor in the global entertainment industry. Thank you WD for your amazing support!"
- Simon Fisher, CEO, Hyper Hippo Entertainment
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SOURCE Western Economic Diversification Canada