Investing in the Future of Canada – Clean Energy
In 2020, Prime Minister Justin Trudeau launched a $10 billion investment plan for clean technology to help Canadians ‘get back to work’ amidst COVID-19. The goal was to create 60,000 jobs across the country. In 2021, $55 million has been promised for further clean technology investment to promote cleaner energy, agriculture, and resources sectors.
Out of all the investments in tech, this one is solely geared towards cleaner energy, a healthy environment, and, most importantly, new economic opportunities. This is a welcome technology investment as the world recognizes Canada’s leadership position in the cleantech market.
How will it affect the tech sector and clean technology?
This announcement further strengthens Canada’s future tech and the technology market, driving more business investments towards different cleantech sectors. Sustainable Development Technology Canada (SDTC) will manage this investment and seek to fund small and medium-sized companies.
How can you utilize this opportunity?
Pouring funds into these companies, especially in the Campbell River tech hub, will facilitate a healthy economy. These investments in tech can be extremely lucrative for investors because of how the government is backing these companies up through different mediums. The global clean technology market is growing considerably and is set to exceed $2.5 trillion by 2022. A timely investment here and in the future tech market can open doors for investors (just like the opportunities arising for entrepreneurs).
Combating Climate Change While Employing Canadians
The cleantech sector is likely to expand significantly, particularly as oil costs rise. And because Canada has a thriving cleantech sector – particularly one that outperforms any other country’s cleantech sector – the firms are an important element of today’s clean industry as well as the future tech market. Because of this, as the Honorable Jonathan Wilkinson (Minister of Environment & Climate Change) noted,
“… (these companies are) a critical part of our plan to reduce emissions and create economic opportunities accords the country.”
To find out more about the investment and business opportunities in Vancouver Island Corridor, or if you are a business in the region and have a story you’d like to be featured on TechIsland. Contact us:
Economic Development Officer