More than $32 million in PacifiCan funding will help businesses commercialize new technologies and adopt AI
October 28, 2024 – Burnaby (British Columbia) – PacifiCan
Artificial intelligence (AI) presents a transformative opportunity for people in British Columbia. With a strong AI ecosystem – including researchers designing technology, companies creating AI-based solutions to global challenges, and users putting the power of AI to work their businesses – British Columbia businesses are well-positioned to leverage the power of AI to drive innovation across the province, creating jobs and economic growth.
The Honorable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), today announced that businesses and non-profit organizations will be able to submit a application for funding under the new Regional Artificial Intelligence Initiative (RIIA) in British Columbia, starting November 18. In British Columbia, PacifiCan will contribute $32.2M to IRIA, making strategic investments that will help businesses commercialize and adopt AI technologies.
To keep the country at the forefront of innovation, the Government of Canada is making strategic investments that will contribute to the adoption of AI in all provinces and territories. This includes some $200 million over five years for Canada’s regional development agencies (RDAs) to implement the Regional Artificial Intelligence Initiative (RIIA) to help companies commercialize new technologies that use to AI and accelerate its adoption across the country.
In British Columbia, PacifiCan will prioritize projects that not only provide significant economic benefits, but also have positive impacts on human health, environmental resilience, economic resilience and productivity across a wide range of sectors. PacifiCan will welcome project ideas from businesses or non-profit organizations.
PacifiCan invests in British Columbia businesses, workers and organizations to ensure they have access to the tools they need to succeed at home and compete in the global economy.
More information is available on the PacifiCan webpage: Regional Artificial Intelligence Initiative – Canada.ca
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