Technology and Innovation
Comox Valley Economic Development established an Memorandum of Understanding in early 2015 with Innovation Island Technology Association to support the expansion of Comox Valley based tech and innovation businesses through the provision of business development services, resources and workshops.
Background on Innovation Island Technology Association (IITA):
IITA supports technology-based companies to accelerate their growth and plays a vital role in building the technology ecosystem in the mid and northern Vancouver Island region. As the leading voice for technology entrepreneurship and innovation in the region, our goal is simple: support entrepreneurs to start and grow successful technology companies. Provide them with the resources, connections and opportunities they need to accelerate their growth.
Innovation Island delivers exceptional programming with regional and provincial impact. Through the delivery of quality programs by a talented team, Innovation Island has assisted tech entrepreneurs to increase revenue, create jobs, expand into new markets, negotiate investment, assess opportunities and accelerate their growth. Over 130 companies have been through Innovation Island programs since April 2012. In the last 12 months, Innovation Island has hosted over 25 events and engaged more than 1,250 attendees.
Venture Acceleration Program
The Venture Acceleration Program (VAP) at Innovation Island is a BC Acceleration Network initiative supported by the BC Innovation Council. The program is designed to assist start-up and early-stage companies with accelerating their growth and maximizing their opportunity. Since launching the project in 2013, Innovation Island has assisted 16 companies to secure over $345,000 in angel investment; $230,000 in government grants; $381,500 in friends and family investment; generate over $715,000 in new revenue; hire 19 full-time employees; and sign 35 partnership agreements.