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Feds announce $3 million to support B.C. tech companies

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The money for small- and mid-sized businesses is part of the $304-million Regional Relief and Recovery Fund for Western businesses.

Small- and mid-sized technology businesses in British Columbia are getting some financial help from the federal government.

Economic Development Minister Melanie Joly announced on July 29 an investment of almost $3 million to help the sector address the economic impacts of the COVID-19 pandemic.

Up to 2,500 innovation firms will benefit and the funding is expected to support about 1,000 jobs.

The money is part of the $304-million Regional Relief and Recovery Fund for Western businesses that Joly announced in May.

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Joly says in a news release that the investment is a vote of confidence in the future of B.C.’s technology sector.

Raghwa Gopal, the president of Innovate BC, says the funding will help B.C. businesses get access to training, mentorship, and other services that will help maintain jobs.

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