Jun 24, 2014
(News Release) NANAIMO – Launched today, the Vancouver Island Venture Acceleration Fund (“VIVA”) is the first dedicated investment fund targeting early-stage, high-growth technology companies on Vancouver Island. Providing more than just money, VIVA brings connections, knowledge and mentoring to bold early-stage entrepreneurs with game-changing ideas.
“The mission of VIVA is to be a catalyst in helping build the Island’s economy into a thriving center of technology and entrepreneurship – enabling companies to innovate, grow and succeed on the Island,” said Allan Wiekenkamp, Board Director of VIVA.
Business start-up and expansion is one of the keys to economic development at the local level. Most entrepreneurs agree that raising capital is the primary obstacle hindering their growth. On Vancouver Island, few venture or angel sources are making investments in early stage technology companies. Recognizing this challenge, VIVA was created for individual investors who are keen to see the Island’s knowledge-based economy prosper.
“The VIVA Fund has the potential to make a huge difference for Island technology companies,” said Sasha Angus, CEO of the Nanaimo Economic Development Corporation. “We are very pleased that they have chosen Nanaimo as their headquarters for this new venture.”