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Federal Government Invests in British Columbia Technology Sectors to Foster U.S. Investment

Minister of State for Western Economic Diversification, announced $900,000 in funding to the Alacrity Foundation of British Columbia (Alacrity) to drive economic growth and facilitate United States (U.S.) investments for small- and medium-sized enterprises (SMEs) in Western Canada. Specifically, this project will focus on B.C.’s technological SMEs within three sectors: wireless, clean technology and life sciences.

With the funding, Alacrity will connect growth-oriented B.C. companies with U.S. venture capital firms that have strong industry knowledge and connections to relevant markets, and coach them to a point where they are U.S. investor-ready. Alacrity will also maintain a presence in Silicon Valley, and leverage this along with existing partner networks in the venture capital industry, and facilitate meetings between both parties to evaluate agreements and plan for future growth.

Through this project, Alacrity will provide a direct link for Silicon Valley venture capital firms to invest in growing companies from Western Canada. Silicon Valley is the heart of the worldwide venture capital investment network and establishing a presence there for Canadian companies will create major opportunities for economic activity.

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