A new investment fund is being launched to help grow innovative companies in British Columbia and create high-quality jobs.

InBC Investment Corp. and University of British Columbia are partnering to establish the UBC Catalyst Ventures Fund, with a total value of up to $40 million.

The fund includes $10 million each from InBC and UBC, along with up to $20 million expected from private investors.

The funding will support companies rooted in UBC research and innovation, with a focus on helping them scale up and remain in B.C. Initial investments will target sectors like life sciences and deep technology.

“Some of the most impactful businesses in North America have begun at UBC,” said Ravi Kahlon, Minister of Jobs and Economic Growth.

“Access to capital is as competitive as ever, and it’s vital that we find new ways to support these innovative companies to grow, create jobs and stay right here at home in B.C. UBC and InBC’s initiative, representing one of the largest government investments of its kind in Canada, works in parallel with our Look West strategy, supporting a stronger, more resilient and more diverse economy that everyone in B.C. will benefit from.”  

The province says the initiative is part of its broader economic strategy aimed at strengthening innovation and creating more jobs.

The fund is expected to help turn research discoveries into new products, services and treatments, while boosting employment opportunities as companies grow.

Officials say UBC has already played a major role in the province’s innovation economy, with more than 280 spinoff companies created from its research.

Those discoveries have contributed to an estimated $13 billion in sales across multiple industries.

The new fund is expected to help more startups move from research to commercialization, while supporting long-term economic growth in British Columbia.

To learn more, visit Government of British Columbia.