InBC Investment Corp. (InBC) and the University of British Columbia (UBC) are partnering to create the UBC Catalyst Ventures Fund, which will create new high-quality jobs by accelerating the growth of innovative B.C. companies built on UBC research and discoveries.
“Some of the most impactful businesses in North America have begun at UBC,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “Access to capital is as competitive as ever, and it’s vital that we find new ways to support these innovative companies to grow, create jobs and stay right here at home in B.C. UBC and InBC’s initiative, representing one of the largest government investments of its kind in Canada, works in parallel with our Look West strategy, supporting a stronger, more resilient and more diverse economy that everyone in B.C. will benefit from.”
The fund is supported by $10 million from InBC and $10 million from UBC. An additional $20 million from private-sector investors is potentially being raised through the fund. The focus of the fund’s resources will be going toward investing in spinoff companies created from licensed UBC research discoveries and other eligible companies established by UBC faculty, staff, students and recent alumni.
“British Columbia is home to world-class research and development, and this fund will accelerate the growth of university-related innovations,” said Thomas Park, chief investment officer, InBC. “We are proud to partner with UBC, one of Canada’s largest research-intensive universities. This partnership aligns with our goal to attract more capital to B.C. and scale more businesses, anchoring them here to generate economic and jobs growth in the province.”
Growing B.C.’s innovation economy and good jobs
The new fund will help turn world-leading ideas into new products, services and treatments that deliver economic, social and environmental benefits for people in B.C., including job opportunities as companies grow. UBC has long been a global leader in research breakthroughs, talent development and commercialization success. The fund will build on that legacy, with initial focus on life sciences and deep tech.
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