BCIC Acceleration Network Unites Regional Partners
Sep 14, 2012
(News Release) VICTORIA — 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 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.