Green Edge Computing and VoxCell Bioinnovation secure federal seed funding
Sustainable Development Technology Canada invested in 16 pan-Canadian companies in total, five of which are located in British Columbia.
Before there are tech giants, there are up-and-comers. To transition from former to latter often requires a perfect mix of ideas, talent, customers, and money. In the case of capital, the federal government has made recent investments into 16 young innovative companies, two of which hail from Victoria, B.C.
Sustainable Development Technology Canada (SDTC) has announced a seed funding of $1.6 million to support Canadian tech startups working on a mix of sustainability solutions.
Victoria tech firms Green Edge Computing and VoxCell BioInnovation received grants ranging from $50,000 to $100,000 that will go towards projects with the potential to generate economic and environmental benefits for Canada.
VoxCell BioInnovation creates 3D-printed, human-like tissues for drug testing, reducing the need for animal and human experimentation and bringing lifesaving therapies to market quicker.
Green Edge Computing has found a better way to capture, process, analyze, and store data, with a lower carbon footprint.
Supporting early-stage companies is a key strategy for advancing opportunities of the net zero economy, according to SDTC president and CEO Leah Lawrence. “These seed funding recipients show us the next generation of sustainable solutions that global markets want and need,” she said in a statement. “SDTC is proud to support these entrepreneurs throughout their journey to commercialization.”
Other B.C. firms to receive investment include Hydrogen In Motion, Anodyne Chemistries, and Reusables.
Seed funding recipients are nominated by SDTC’s pan-Canadian partnership with accelerators, incubators, and entrepreneurial service organizations. This seed funding cohort was nominated by a network of 15 accelerators across Canada.
Each company is working toward five key objectives, according to SDTC, which are: improving the built environment; finding better energy solutions; enhancing our health, food, and water; gathering data more efficiently to inform decision-making; and reducing waste.