Government of Canada invests $9.4 million to drive innovation and economic growth in Surrey
Surrey, British Columbia, October 25, 2024 – The Government of Canada today announced an investment of $9.4 million to support innovation and economic growth in Surrey, British Columbia. This funding will be used to establish a new innovation hub that will provide businesses and entrepreneurs with access to the resources, expertise, and support they need to succeed.
The innovation hub will be located in the heart of Surrey’s tech sector and will offer a range of services, including:
- Access to mentorship and business advice
- Training and workshops on the latest technologies and trends
- Networking opportunities with other businesses and investors
- Funding opportunities for startups and small businesses
“This investment is a testament to the Government of Canada’s commitment to supporting innovation and economic growth in Surrey,” said the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. “This new innovation hub will provide businesses and entrepreneurs with the resources they need to succeed and will help create jobs and drive economic growth in the region.”
The Government of Canada’s investment is part of its Innovation and Skills Plan, which is a $950 million investment over five years to support innovation and skills development across Canada. The plan includes a range of initiatives to help businesses innovate, grow, and create jobs, including:
- $250 million to support the creation of new innovation hubs across Canada
- $150 million to help businesses scale up their operations
- $100 million to support the development of new technologies
- $100 million to help businesses access global markets
“This investment will have a significant impact on the Surrey economy,” said Surrey Mayor Linda Hepner. “The new innovation hub will provide businesses and entrepreneurs with the support they need to succeed and will help create jobs and drive economic growth in the region.”
The innovation hub is expected to open in early 2025.
Government of Canada invests $9.4 million to drive innovation and economic growth in Surrey
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