“Vancouver, a booming tech city, is the prime location for innovation, and the Government of Canada recognizes and supports local businesses that are propelling Canadian-made technology onto the global stage. On November 16, 2023, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced over $5.6 million in funding for two innovative Vancouver-based tech companies. These companies are making waves in construction site safety and transportation, with the potential to create new job opportunities and drive substantial revenue growth.
Empowering Innovation in Vancouver
First up, SALUS Technologies, a company dedicated to enhancing safety management on construction sites, is set to receive $2,635,300 for the expansion of their cloud-based safety management software. This pivotal investment will allow SALUS to build new platform capabilities, hire more staff, improve customer support, and expand their marketing efforts. Such advancements will not only ensure the safety of workers on construction sites but also drive growth and efficiency for organizations.
Next, Spare Labs, a company developing software to automate transit bookings, is set to receive $3 million to boost their operations through PacifiCan’s Business Scale-up and Productivity program. This innovative technology enables transportation providers to offer on-demand services for riders in rural areas and people with disabilities, without incurring additional costs. With this funding, Spare Labs will be able to enhance their product, hire more staff, and expand their operations to tap into global growth opportunities.
A Bright Future for Innovation and Job Creation
Overall, the $5.6 million-plus funding for these two Vancouver businesses is anticipated to generate over 100 quality jobs and drive over $80 million in revenue growth. This investment in local businesses not only supports innovation but also contributes to the economic prosperity of British Columbians.
The Voices of Change
“The Vancouver tech industry is home to groundbreaking innovations that address critical industry challenges. PacifiCan is proud to support these local companies in expanding their reach while fostering an inclusive economy that generates quality jobs for British Columbians,” expressed the Honourable Harjit S. Sajjan.
“Innovative businesses are the backbone of British Columbia’s growing economy. Today’s investment is a testament to the potential of Vancouver’s local companies to create new high-quality jobs and positively impact BC’s economic landscape,” stated the Honourable Hedy Fry, MP Vancouver Centre.
In the Words of Innovation Leaders
“At SALUS, we firmly believe that innovation is the driver of positive change. With the support of PacifiCan and the Government of Canada, we are not only pushing the boundaries of safety technology but also laying the foundation for a brighter future in our industry,” shared Gabe Guetta, CEO, and Founder of SALUS.
The Government of Canada’s investment in Vancouver’s tech scene underscores its commitment to nurturing innovation, job creation, and economic growth. By supporting local businesses with global potential, PacifiCan is propelling British Columbia to the forefront of technological advancement, not just at home, but on the global stage.”
It is commendable to see government investments in technology companies that have the potential to impact numerous industries and generate economic growth. This not only benefits the businesses directly involved but also creates a ripple effect in the larger economy. The government’s support of innovation and job creation in Vancouver is a testament to the region’s promising future as a global tech hub.