Helping innovative companies in British Columbia grow and compete
More than 300 well-paying jobs will be created through the Western Innovation (WINN) Initiative
November 13, 2018 – Vancouver, British Columbia – Western Economic Diversification Canada
The world economy is rapidly changing. Innovations in artificial intelligence, clean technology, advanced agriculture and manufacturing, among others, are redefining the nature of global competitiveness.
Today, the Honourable Jody Wilson-Raybould, Member of Parliament for Vancouver Granville and Minister of Justice and Attorney General of Canada, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada, announced close to $20 million to help 17 innovative businesses get their products to market faster. The Western Innovation (WINN) Initiative announcement took place in Vancouver at Precision Nanosystems.
Precision Nanosystems received $1 million to develop and commercialize the next generation of instruments to manufacture nanomedicines. Since 2010, Precision Nanosystems has been revolutionizing healthcare treatments through innovation in nanotechnology. Nanomedicine has ushered a new era for medicine by enabling new treatment options for patients. Precision Nanosystem’s new instrument, named the NanoAssemblr is a cost effective and flexible solution that will help bring these innovative nanomedicine treatments to market sooner.
In today’s growing market for technology developers, Western Canada has the potential to help Canadian innovators grow and position the country as a global centre of excellence by leveraging regional strengths. To seize such opportunities for economic growth, the federal government and industry are working hard to help western Canadian entrepreneurs overcome the challenges of bringing game-changing innovation to market.
“The Government of Canada is working hard to help western Canadian entrepreneurs turn their ideas into thriving businesses and create good middle class jobs. Through the Innovation and Skills Plan funding programs such as Western Innovation (WINN) initiative, we are helping to propel innovative entrepreneurs and businesses from start-ups into global success.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
“Precision Nanosystems is engineering medical solutions that will benefit the world. By supporting innovative companies in Vancouver Granville and across Canada, such as Precision Nanoystems, we are generating meaningful business investments, high quality jobs and ensuring that Canada has a promising future. Congratulations to Precision and all the WINN recipients for bolstering Canadian innovation.”
– The Honourable Jody Wilson-Raybould, P.C., Q.C., M.P. Member of Parliament for Vancouver Granville and Minister of Justice and Attorney General of Canada
“The focus of the Western Innovation (WINN) Initiative aligns with the strong commercial focus of Precision NanoSystems. With over 250 systems placed worldwide, PNI’s NanoAssemblr platform is used by over 85 pharma and biotech companies. The WINN funds will accelerate the commercialization of a next-generation instrument for the manufacture of developing revolutionary medicines.”
– Dr. James Taylor, Co-Founder and CEO, Precision Nanosystems
Western Canada accounts for 38% of Canada’s economy.
Per capita GDP is 18% higher in the West than across the country.
Clean technology and advanced agriculture and food production are major growth industries in the West.
Western Canada’s 427,000 SMEs employ over 3.4 million people.
Five of the top 15 Canadian research universities are in Western Canada.
The West attracts about half the venture capital of Ontario or Quebec.