The B.C. Centre for Innovation and Clean Energy (CICE) is introducing a new funding avenue for emerging B.C.-based ventures that have recently graduated from university entrepreneurship programs.

VANCOUVER, BC, Nov. 28, 2023 /CNW/ – $75,000 in early-stage funding will be allocated to a maximum of twelve ventures nominated from leading universities across British Columbia: Simon Fraser University (SFU), University of British Columbia (UBC) campuses in Vancouver and the Okanagan, University of Northern British Columbia (UNBC), and University of Victoria (UVic).

“Supporting graduates embarking on new ventures is crucial for fostering their new skills and strengthening the transition to clean energy jobs,” said Selina Robinson, Minister of Post-Secondary Education and Future Skills. “I look forward to seeing the results from the B.C. Centre for Innovation and Clean Energy’s early-stage grant funding and collaboration with our public post-secondary institutions. It’s another step toward building a clean economy and a stronger, talent-driven workforce in B.C.”

The pathway to securing early-stage funding and partnerships is challenging, especially for early-stage ventures fresh out of universities. Many innovative ideas lose momentum due to a lack of critical support – including solutions with the potential to be the next groundbreaking advancement in the transition to clean energy and decarbonization.

In response to this crucial need, CICE is proud to collaborate with entrepreneurship@UBC-O, entrepreneurship@UBC-V, SFU VentureLabs, UNBC Innovation Program and UVic Coast Capital Innovation Centre to bridge the funding gap that typically hinders ventures between early solution validation and the development of a commercialization strategy (Technology Readiness Levels 4-9). The funding will be structured in two stages, beginning with an initial grant of $75,000 per selected venture, and additional follow-on funding contingent on successful project milestone achievements.

“CICE is primed to advance the commercialization of up to twelve breakthrough clean energy and climate solution ventures rooted in British Columbia,” stated Todd Sayers, Chief Operating Officer of the B.C. Centre for Innovation and Clean Energy. “Our universities have an impressive track record of cultivating amazing companies, including Moment Energy from SFU VentureLabs, and Arca and Takachar from entrepreneurship@UBC-V, all of whom have received support from CICE as they scale their clean energy solutions from B.C. to the global stage. Our collaborative effort to provide catalytic funding when it’s most critical will accelerate Canada towards the ultimate objective of realizing net-negative emissions.”

Applications for the university innovation call will be accepted from January 22^nd to March 4^th, 2024, with funding decisions announced in April 2024. To learn more about the application process, read the application guide and attend the Q&A webinar taking place at 10am PT on Tuesday, December 12th, 2023. Register here.