Federal government invests close to $14M in Vancouver, B.C. businesses
by CM Staff
The funding announced includes over $11.5 million for four companies through PacifiCan's Business Scale-Up and Productivity program and over $2.4 million for three companies through its Jobs and Growth Fund.
Government of Canada invests almost $14 million to drive innovation and economic growth in Vancouver (CNW Group/Pacific Economic Development Canada)
VANCOUVER — Mary Ng, Minister of Export Promotion, International Trade and Economic Development, announced almost $14 million in PacifiCan funding to help seven Vancouver-based businesses and organizations in British Columbia grow even faster.
The funding announced includes over $11.5 million for four companies through PacifiCan’s Business Scale-Up and Productivity program and over $2.4 million for three companies through its Jobs and Growth Fund.
Minister Ng made the announcement at Clarius Mobile Health in Vancouver, a medical device company receiving over $3.3 million in PacifiCan funding. This investment will help Clarius accelerate export sales of its wireless handheld ultrasound devices, designed for point-of-care use by medical professionals. Point-of-care ultrasound exams are performed outside the radiology suite to allow for quicker insights and decisions during a patient’s appointment.
Clarius’ ultrasound technology connects to electronic devices such as smartphones and tablets, allowing clinicians access to medical imaging in real time, which can improve patient care and reduce health care costs. PacifiCan’s investment will allow Clarius to implement new sales models in international markets, creating 77 jobs.
Clarius’ business potential was recognized by PacifiCan in 2022 with a $2.4 million investment to support expansion internationally by registering its device in 10 new markets and growing distribution partnerships. Subsequently, in July 2023, with input from an independent selection panel, Clarius was announced as one of the firms included in the Global Hypergrowth Project – a whole-of-government initiative which helps high-potential Canadian firms to scale and become anchor firms in Canada.
“Vancouver is home to many of British Columbia’s brightest and boldest changemakers who are driving innovation and economic growth in our province. PacifiCan is investing in the businesses, organizations, and ideas that will positively impact the lives of British Columbians and people around the world. Today’s funding will help unlock the potential of Canadian technology, create quality jobs, and position B.C.-based companies for growth at home and on the world stage,” said Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada.
