Updated #BCTECH strategy includes focus on stem grads and encouraging US trade
BC Government News
March 14, 2017
At the second annual #BCTech Summit in Vancouver, BC Premier Christy Clark announced updates to its #BCTech Strategy.
First announced in January 2016, the #BCTech Strategy includes a $100 million VC fund for promising BC companies, currently being managed by Toronto-based Kensington Capital Partners.
“Evolving initiatives in the #BCTECH Strategy reflect our focus on enabling tech companies to grow and reach their full potential.”
During the announcement, Clark placed particular emphasis on fostering tech talent through education. The province wants to increase the number of tech grads by 1,000 per year by 2022. Post-secondary tech degree program co-op placements will also be doubled to over 1,400 students annually, and the Mitacs student research program will be expanded to over 800 internships annually.
“BC’s tech community has told us their number-one priority is making sure British Columbians have the talent and skills they need so the sector can continue to grow and thrive,” said Clark. “The revised BC Tech Strategy is about giving British Columbians in all corners of the province every opportunity to build careers in tech.”
Clark also announced the creation of a new BC Science and Technology Research Chair program to support researchers and their teams of graduate students in work relevant to the technology and the life sciences sub-sector.
When the provincial government announced its budget in late February, the province announced that an $87 million would be contributed to its #BCTECH strategy, going towards ministries that support the tech sector. The government also announced that it would cut the small business corporate income tax from five percent to two percent.
Other announcements on the expanded #BCTech Strategy is meant to support four pillars: talent, capital, markets, and data.
Read the full Media Release here