InBC and Simon Fraser University (SFU) are partnering to launch the SFU Innovates Venture Fund to accelerate the transition of breakthrough research and discoveries into commercial ventures.
The SFU Innovates Venture Fund is a joint venture between InBC and SFU to co-invest in innovative B.C. companies based on technology developed by SFU researchers, students and alumni. It will focus on early-stage companies, prioritizing key growth sectors in the province including life sciences, deep technology and cleantech.
The announcement was made at Web Summit Vancouver with the Minister of Jobs and Economic Growth Honourable Ravi Kahlon, SFU Vice-President of Research and Innovation Dugan O’Neil, and InBC Chief Investment Officer Thomas Park. SFU spinoff and InBC-invested company Photonic Inc.’s Founder and Chief Quantum Officer, Dr. Stephanie Simmons, provided validating remarks.
We are pleased to collaborate with SFU, Canada’s top university for innovation, with a proven track record of discovery and entrepreneurship. Over 500 ventures based on SFU discoveries and research have been created and supported to date, including Photonic Inc., Moment Energy and Ionomr Innovations Inc. to name a few. SFU spinoff companies have achieved over $120 million in revenue since 2020, generating significant economic value for the province.
The joint venture builds on this legacy, growing and accelerating the commercialization of university innovation into B.C. businesses.
SFU is investing $7.5 million and InBC is matching this commitment. InBC will also provide investing capacity through our team of investment professionals, including investment-grade due diligence and portfolio management. SFU is now fundraising to increase the fund’s investable capital up to a potential total of $20 million.
This co-investing partnership represents a shared commitment between InBC and SFU to increase the commercialization capacity in the province. It is a continuation of InBC’s efforts to commercialize more of B.C.’s world-class research and development and attract additional capital to the province. By aligning priorities with Provincial sector targets, we are strategically building momentum in key industries to maximize economic impact.
Eligible companies and investors interested in being a part of the fund can contact: sfu_innovates@sfu.ca
Quotes
“Some of B.C.’s most innovative and successful companies have their roots at Simon Fraser University. With global uncertainty causing access to capital to be increasingly competitive, it’s essential that we continue finding new ways to help these businesses grow, create good jobs and stay in B.C. The SFU Innovates Venture Fund is one of the most significant investments of its kind and works hand in hand with our Look West strategy, building a stronger, more resilient economy that benefits people in every region of B.C.”
— Honourable Ravi Kahlon, Minister of Jobs and Economic Growth
“This collaboration represents a shared commitment by InBC and SFU to increase the commercialization capacity within B.C. We are proud to partner with SFU, where some of the most exciting companies in B.C., such as Photonic, were born. By focusing on high-potential sectors including life sciences, deep tech and more, we are strategically building momentum in key growth industries to maximize economic impact.”
— Thomas Park, Chief Investment Officer, InBC Investment Corp.
“SFU has always been a place where ideas don’t just stay in the lab; they grow into real ventures and real impact. Having supported more than 500 ventures so far, we are excited to launch this new fund to accelerate the translation of breakthrough research into real-world impact.”
— Dugan O’Neil, Vice-President, Research and Innovation, Simon Fraser University
“As a professor, I was drawn to quantum computing for its transformational potential at scale. When considering all the elements required to make this goal a reality, SFU had a compelling combination of entrepreneurial focus, leading research talent, and world-class location. Adding access to dedicated funding and investment expertise will make it easier to turn local scientific advancements into globally impactful solutions.”
— Dr. Stephanie Simmons, Founder and Chief Quantum Officer, Photonic Inc.