The Integrated Marketplace helps local tech companies pilot green solutions in real-world business environments and export made-in-B.C. products and services
British Columbia is home to hundreds of the most innovative technology companies in the world. By connecting them with large-scale B.C. organizations looking for sustainable solutions, these companies can test their new products and services, and grow their markets at home and abroad.
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $9.9 million in PacifiCan funding to Innovate BC to help establish and grow the Integrated Marketplace. This funding, through PacifiCan's Regional Innovation Ecosystems program, is in addition to $11.5 million provided by the Government of B.C.
The Integrated Marketplace provides a platform for B.C. technology companies to develop and operationalize new innovations that address business challenges and advance climate goals in a real-world environment, such as a seaport or airport. Delivered by Innovate BC, the program builds a network of industry partners to identify challenges and implement technological solutions that help large-scale organizations decarbonize, increase competitiveness, and improve health and safety. This will open doors for B.C. companies to prove their technologies, and commercialize, sell, and export new products and services while reducing risk for buyers.
Today's announcement took place at the Port of Vancouver, operated by the Vancouver Fraser Port Authority, which was introduced as the program's third industry testbed site. At the Port of Vancouver, the initial project will focus on developing digital tools to optimize the supply chain, which is expected to increase operational reliability and capacity.
The first two testbeds were launched over the past year at Vancouver International Airport (YVR) and the Port of Prince Rupert. For its initial testbed project, YVR is electrifying its support vehicles on the airfield to reduce operational greenhouse gas emissions. At the Port of Prince Rupert, tests are being conducted to reduce use of diesel fuel, which will decarbonize operations and increase the port's efficiency and competitiveness.
The Government of Canada is committed to net-zero emissions nationwide by 2050, which will require innovative measures and technologies to help transform the economy. The Integrated Marketplace will not only accelerate the development and adoption of clean technologies, it will open up new markets and attract world-class talent to the province.
