BCIC Acceleration Network unites regional partners to grow BC tech companies and jobs

VANCOUVER, Sept. 13, 2012 /CNW/ - New and early stage technology companies throughout the province now have improved access to highly qualified entrepreneurial expertise and know-how. Through the efforts of the BCIC Acceleration Network, a province-wide alliance of regional partners is collaborating to deliver a structured venture growth program to technology entrepreneurs in all corners of BC.

"For tech entrepreneurs, getting to a point of sustained profitability is extraordinarily difficult," said Dean Prelazzi, Managing Director of the BCIC Acceleration Network.  "There are exciting startups and early-stage tech companies all around the province with tremendous potential. But success is often many years in development with numerous challenges along the way. This network has been designed as a rigorous, province-wide team effort to help them succeed."

A unique undertaking in BC, and possibly Canada, this initiative unites multiple sources of advice and mentorship into a single, highly coordinated network.  Working together in this manner creates a network effect which increases the diversity of expertise that entrepreneurs have access to throughout the province. By anchoring these efforts to a proven growth model, the network provides entrepreneurs a consistent and disciplined method of accelerating the growth of their companies.

The ultimate mission of this alliance is to grow jobs in B.C.'s technology sector throughout the province.

"The technology sector is vitally important to Canada Starts Here: The B.C. Jobs Plan," said John Yap, Minister of Advanced Education, Innovation and Technology. "The BCIC Acceleration Network is increasing tech start-ups in two regions already, and will soon be moving the jobs agenda ahead throughout the province by accelerating the commercialization of technology and spurring the rapid growth of new ventures."

Currently supported by the BC Innovation Council, the BCIC Acceleration Network is operational in the Okanagan through Accelerate Okanagan, and in Victoria with the recent addition of Accelerate Tectoria. In its first 12 months, 47 startups have joined the program. In this time frame they have collectively attracted in excess of $4M in investment, generated $1M in revenues and created 140 jobs for British Columbians. Through the balance of 2012 and 2013, BCIC is expanding the network throughout the province with the Lower Mainland, West Kootenays, Central Interior and Central/Northern Island rolling out this fall.

More information about the BCIC Acceleration Network, including updates on its delivery partners, can be found at bcicacceleration.ca.

About BCIC
BCIC encourages the development and application of advanced or innovative technologies to meet the needs of industry in BC. We accelerate technology commercialization by supporting startups and developing entrepreneurs. With our partners, BCIC delivers programs and initiatives that promote company growth - resulting in jobs, increased revenue and economic development in BC.
BCIC is a Crown Agency of the Province of British Columbia.
www.bcic.ca | www.twitter.com/BCIC

About Accelerate Okanagan
Accelerate Okanagan, a technology focused not-for-profit, was formed on December 31, 2010 with the mission to increase the number of technology companies that start and grow in the Okanagan by helping to develop and support a vibrant entrepreneurial, creative and innovative technology community and providing programs that support entrepreneurs and technology companies looking to start, accelerate and grow.
www.accelerateokanagan.com | www.twitter.com/accelerateok

About Accelerate Tectoria
Accelerate Tectoria is a physical place for startup and early stage tech entrepreneurs in Greater Victoria to receive access to seasoned coaches, mentors, service providers and community partners. It provides assistance to help clients build networks to ensure the success of their ventures and is a vehicle that leverages the knowledge and experience of our tech community members. The Accelerator Centre is powered by VIATeC and funded by BCIC, Western Economic Diversification & NRC IRAP
www.acceleratetectoria.com

SOURCE: BC Innovation Council

Lindsay Chan
Marketing & Communications Manager
604-602-5249 | 604-551-9068
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