Kelowna, British Columbia – Ron Cannan, Member of Parliament for Kelowna- Lake Country, on behalf of the Honourable Lynne Yelich, Minister of State for Western Economic Diversification, announced an over $500,000 Government of Canada investment to help equip small business owners with the tools they need to succeed and bring their ideas, products, and technologies to market. Western Economic Diversification Canada will provide $388,080 and the National Research Council will provide up to $120,807 towards New Ventures BC.
 
“Our Government is committed to helping support small business across B.C. so they can excel in today’s competitive market,” said MP Cannan. “Investing in their ideas and innovations will build stronger communities and benefit all working families.”
 
In addition to support from Western Economic Diversification Canada, New Ventures BC has benefitted from other Government of Canada support through the National Research Council Industrial Research Assistance Program (NRC-IRAP), which provided up to $120,807. The funding supports the communities’ small- and medium-sized businesses as they acquire basic business information and further their mentoring opportunities.
 
New Ventures BC (NVBC), also known as the BC Ventures Society, will expand its NVBC Business Competition activities to areas outside Metro Vancouver.  The NVBC Competition is a province-wide technology business initiative offering participants a unique mix of business education and networking opportunities. New Ventures BC looks to support British Columbia’s emerging industries by focusing on small business owners across B.C. who have innovative ideas for new products or services linked to technology.
 
“We are absolutely delighted with the support that the Government of Canada is providing New Ventures BC,” says New Ventures BC Chair, Ernie Love. “Fostering technology-based entrepreneurship across the Province has always been at the core of the competition. This support, in conjunction with our many other sponsors, including the BC Innovation Council and the BC Bioenergy Network, will make this happen.”
 
Western Economic Diversification Canada funding will help deliver NVBC Competition related programs by strengthening the marketing and human resource capacity of the NVBC. These activities, in conjunction with the NVBC Business Competition, promote British Columbian business and creates a stronger Western Canadian economy. 
 
“We are pleased to continue our support for the New Ventures BC competition as the title sponsor,” said Dean Rockwell, CEO, BC Innovation Council. “The BCIC-NVBC Business Plan Competition Awards, given to the competition’s winners, help lead great ideas to commercial success. This year, new and emerging entrepreneurs throughout all regions of BC will benefit from the competition’s expanded business development resources.”
 
“The BC Bioenergy Network is pleased to support and partner with the NVBC Competition,” says Michael Weedon, Executive Director of the BC Bioenergy Network. “Announcing our support for a Bioenergy Prize will stimulate innovative bioenergy technologies resulting in the development of a world class industry and capacity in BC.”
 
New Ventures BC, a non-profit organization, was established to stimulate the economy of British Columbia by helping new entrepreneurs commercialize new technologies and service ideas.  
 
Western Economic Diversification Canada, works with the provinces, industry associations, and communities to promote the development and diversification of the western economy, coordinate federal economic activities in the West and represent the interests of western Canadians in national decision-making.