New funding Programs Aimed To Benefit Innovation And Economy In The North

Two new funding programs worth $1.65 million was introduced today at the True North Business Development Forum in Prince George’s Coast Inn of the North to support innovation projects in Northern BC.

The northern industries innovation fund is committing $750,000 annually to help small businesses create innovative technology.

This will provide rebate funding up to $50,000 to a maximum of 50 per cent of a projects budget in industries such as energy, agriculture, aquaculture and forestry.

Minister of forests Doug Donaldson says people who work towards technology innovation are usually short funding.

“People, especially the innovators, are often doing it out of their own homes, they’re doing it in their own backyards, they’re doing it in connection with another partner.”

The second program, called the strategic initiatives fund, is committing $900,000 to allow municipalities and First Nations to apply for grant funding to support long term sustainability projects.

Natural Resource companies are continuing to look for new innovative technology to help their business says Minister of Jobs, Trade and Technology Bruce Ralston.

“the funding is focused on smaller companies and where they’re in the start up or first stage. And a little bit of funding in that first stage can really go a long way, so that little bit extra for a good idea can really make a difference in developing and growing a thriving company.”

Applications for the Northern Industries Innovation Fund will be accepted in an ongoing basis until the annual money is exhausted.

while the applications for the Strategic Initiatives Fund will be accepted until March 15th.