Innovation is a competitive advantage in B.C. Our province is at the forefront of growing industries like artificial intelligence and cleantech. Investing in B.C. and Canada is key to cultivating innovation — at InBC, we believe in empowering growth within our home turf to bolster Canada’s economy.
B.C. Signals Strong Progress in Venture Capital and Innovation-led Growth
B.C. is one of the notable leaders in venture capital investments, based on recent reports:
- B.C. recorded its most narrow gap in 2024 with Ontario, in venture capital investments, according to CVCA’s 2024 Canadian Venture Capital Market Overview.
- Its Q1 2025 report revealed that $80 million in deals occurred in our province during the quarter, underscoring investor interest in B.C. innovation.
- BDC’s most recent Canada’s Venture Capital Landscape report found that B.C. came in second for dollars invested in Canadian VC activity, outpacing Québec and almost matching Ontario.
There are growing opportunities in B.C. and Canada to fuel more innovation. To support this continued growth, InBC has committed $177 million to companies across B.C., as well as venture funds that invest in B.C. Our investments highlight the potential to drive substantial progress and innovation in our province.
A Pivotal Moment to Propel Innovation in Canada
The current shift in global order offers various opportunities for our country to create more innovation within our borders. Reducing interprovincial trade barriers and buying Canadian first can support further growth in our markets. As such, InBC is investing in a diverse range of companies in the province to help build a more resilient economy that can withstand global challenges while remaining competitive.
Furthermore, we continue to focus on supporting economic prosperity. Since InBC began investing, we have seen $93 million in gross revenue, along with $205 million in R&D spending generated by B.C. companies. In the past year alone, these companies grew their revenues by 35% and their B.C. employees by 11%. With our wide range of investments, B.C. will have a chance to turn these investments into an advantage through financial returns, talent development and intellectual property creation and retention as well as re-investment opportunities. This supports Canada becoming more economically and innovatively independent.
Accelerating Economic Growth, One Company or Fund at a Time
At InBC, we are targeting high-growth sectors such as life sciences, agritech, climate tech and information and communications technology to increase efficiency in up-and-coming industries and create more jobs for everyone. Our portfolio supports over 1,800 employees across the province. This provides competitive opportunities for local talent and creates employment opportunities in different sectors, from healthcare to clean energy.
We have witnessed an incredible amount of growth in the companies we’ve invested in so far, including:
- Mangrove Lithium is building North America’s first electrochemical lithium refining plant in the province;
- Svante Technologies recently opened a gigafactory for carbon capture and removal filters in Burnaby;
- 4AG Robotics is creating jobs and supporting the local economy in Salmon Arm, Thompson-Okanagan, and recently expanded with a satellite office in Vancouver;
- ThoughtExchange in the Kootenays is expanding technology, robotics and AI capabilities in urban-rural B.C.;
- Clarius Mobile Health provides support for rural physicians in the province and, in early 2024, opened a new manufacturing facility in Vancouver.
Our province is a leading destination for innovation and entrepreneurship, and at InBC, we are proud to support a thriving business environment for local businesses. B.C.’s innovation potential was highlighted with the recent Web Summit, which welcomed 1,108 startups and 681 investors from around the world. Notably, 44 per cent of the startups at the Summit were founded by women, highlighting the growth in women-led businesses. The province’s ability to develop talent and attract technology and innovation-oriented businesses is a sign that the province has the capability to boost Canada’s reputation as a hub of creativity and innovation.
At InBC, we are focused on creating a future-ready economy that builds sustainable, diversified and resilient industries so that communities across our province can benefit from economic growth. InBC is committed to the province and the country’s well-being.
The future is here, and the time to invest in it is now.