Canada
InBC and UBC Launch $40 Million Fund to Power Innovation and Job Creation in British Columbia: In a major boost to British Columbia’s innovation economy, InBC Investment Corp. (InBC) and the University of British Columbia (UBC) have announced a new partnership to establish the UBC Catalyst Ventures Fund—an investment initiative of up to $40 million aimed at scaling homegrown companies and creating high-quality jobs across the province.
The fund will be anchored by $10 million each from InBC and UBC, with plans to attract up to $20 million in additional private-sector investment. It will focus on accelerating businesses rooted in UBC’s research ecosystem, particularly in high-growth sectors such as life sciences and deep technology.
“This initiative represents one of the largest government-backed investments of its kind in Canada,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “Access to capital is critical in today’s competitive landscape. By supporting innovative companies to grow and remain in B.C., we are building a stronger, more resilient, and inclusive economy aligned with our Look West strategy.”
The UBC Catalyst Ventures Fund will primarily invest in spinoff companies emerging from licensed UBC research, as well as startups founded by UBC faculty, staff, students, and recent alumni. The goal is to transform cutting-edge academic discoveries into commercially viable products, services, and treatments with global impact.
Thomas Park, Chief Investment Officer at InBC, emphasized the province’s strength in research and development. “British Columbia is home to world-class innovation. This partnership with UBC will help attract capital, scale businesses, and ensure they remain anchored in the province, driving economic growth and job creation.”
The initiative aligns closely with British Columbia’s Look West strategy, which aims to significantly expand key sectors. Targets include increasing the economic impact of life sciences by 75% while doubling employment to 40,000 jobs, and boosting the tech sector’s value by 75% with employment reaching 400,000.
UBC leadership highlighted the broader vision behind the collaboration. Benoit-Antoine Bacon noted, “This partnership reflects our commitment to ‘partner for purpose’—leveraging academic excellence to generate meaningful economic and social impact not only in B.C., but across Canada and beyond.”
UBC has long been a powerhouse of innovation, with more than 280 spinoff companies originating from its research. These ventures have contributed to an estimated $13 billion in sales globally, underscoring the university’s role as a key driver of economic activity.
Notable success stories include AbCellera, Xenon Pharmaceuticals, and Aspect Biosystems—all pioneering advancements in biotechnology and healthcare.
Tamer Mohamed, founder and CEO of Aspect Biosystems, welcomed the announcement, noting that access to funding is critical for scaling innovation. “It’s encouraging to see this new fund supporting companies like ours to grow and innovate right here in British Columbia,” he said.
The establishment of the UBC Catalyst Ventures Fund marks a significant step toward strengthening Canada’s innovation ecosystem. By bridging academia, government, and private investment, the initiative is expected to accelerate commercialization, generate employment, and position British Columbia as a global hub for cutting-edge industries.
As the province continues to invest in future-focused sectors—including AI, quantum computing, clean technology, and life sciences—the partnership between InBC and UBC signals a strong commitment to building a more self-reliant and opportunity-driven economy for generations to come.
