South Island Prosperity Partnership, the mandated economic development agency for Southern Vancouver Island, announced June 27 it will receive $3-million in funding from the Pacific Economic Development Agency of Canada (PacifiCan).
“We are very grateful for PacifiCan’s investment into South Island Prosperity Partnership (SIPP) to further establish the Centre for Ocean Applied Sustainable Technologies (COAST) and the Indigenous Prosperity Centre (IPC),” said Emilie de Rosenroll, Group CEO of South Island Prosperity Partnership. “Together with leveraged support from the private sector, this investment accelerates climate-conscious ocean and marine innovation along with Indigenous strengths in marine stewardship in order to realize Pacific Canada’s position as a leader in the global blue economy.”
The PacifiCan investment supports the development of an ocean and marine innovation network and hub through COAST, the blue economy arm of SIPP dedicated to expanding B.C.’s rapidly growing ocean and marine technology sectors. The funding will also foster Indigenous entrepreneurship and the exploration of economic opportunities connected to ocean monitoring and conservation through SIPP’s Indigenous-led arm, the Indigenous Prosperity Centre.
Jason Goldsworthy, COAST Executive Director, added “our ocean and marine industries are a vital component of our economic and social prosperity. There are an increasing number of innovators and entrepreneurs working to better our use and interactions with the ocean. COAST will support these enterprises on their path to market. We will help find solutions to key industry challenges, attract talent, capital and partnerships, identify and provide training opportunities, connect an ecosystem of private and public organizations, and drive the momentum to establish Pacific Canada as a world leader in ocean and marine innovation.”
In announcing the funding, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for PacifiCan said “British Columbia is at the leading edge of research and commercial development of ocean technology. By investing in some of Vancouver Island’s most innovative organizations and bringing together leaders in B.C.’s ocean technology sector, PacifiCan is propelling partnerships and prosperity across British Columbia.”