The Kelowna Innovation Society says it has received what it describes as a “strong” federal endorsement recently, for its new Okanagan Centre for Innovation.
The endorsement came in the form of a “pivotal” financial commitment.
Michelle Rempel, federal Minister of State for Western Economic Diversification was in Kelowna recently to announce a $3.4-million investment that will build out, equip and operate 24,000-square-feet of publicly-funded space at the centre, which is currently under construction at the corner of Doyle Avenue and Ellis Street downtown.
With the contribution from Western Diversification, the centre now has support from all three levels of government: municipal, provincial and federal. Combined with what the society describes as solid backing of private enterprise and the academic community, Kelowna’s new tech centre has tremendous momentum.
“We’re thrilled to be partnering with the Government of Canada on this initiative,” said society director and vice-president, Jeff Keen.
“This funding allows us to fully execute on the vision for the OCI and provide maximum support to the startup & entrepreneurial ecosystem.”
The society had a vision to create a space that would be accessible to fledgling innovators, who traditionally have an abundance of ideas and initiative but limited access to cash or infrastructure.
The second floor of the OCI has been designed to support high growth early-stage technology companies, non-profits and social enterprises, and will provide the infrastructure necessary to help accelerate their business ideas.
Keen is extremely thrilled about the possibilities.
“This is an exciting development, on several levels. We’re happy about the benefits that will come to our city – having a space that will attract innovators and creatives is good for the fabric of the community.
“We’re happy about the economic spin-offs – as these companies grow they attract more employees, who use the services in our city, and that’s great for the local economy.
“But we’re especially happy for the entrepreneurs that will benefit directly from this space. These entrepreneurs are building companies, creating new jobs and driving our community’s growth. We want to nurture and encourage them, help them survive and thrive.”
Collaboration is a key ingredient in the success of tech companies at all stages of development, according to the society and the OCI has been designed to foster that collaboration.
The concept was inspired by what is happening in other leading tech centres including the Silicon Valley, Boulder, Colorado and Austin, Texas.
“These communities have been incredibly successful building and supporting their startup and entrepreneurial ecosystems, but we’re not using them as a pattern,” said Keen.
“We’re using them as inspiration and doing what’s best for our community.”
The support shows it’s clear that stakeholders at all levels of government see the tremendous benefits to be gained from the OCI and this recent commitment from Western Economic Diversification secures a vital part of the plan, he added.
