Government of Canada invests in industry-leading innovation in Victoria

July 20, 2022 at 3:39 pm  Federal, Politics

The Honourable Harjit S.Sajjan announces funding of over $3.25 million to three companies in the food processing and digital technology sectors

July 20, 2022 – Victoria, British Columbia – Pacific Economic Development Canada

British Columbia’s small and medium-sized enterprises (SMEs) are critical to their communities – they create jobs, drive economic growth, and develop products and services that help solve local and global challenges.

Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced over $3.25 million in funding through the Business Scale Up and Productivity (BSP) program for three innovative companies looking to accelerate their growth and reach new markets.

Minister Sajjan made the announcement with DeeBee’s Organics, Inc. (DeeBee’s), where BSP funding of over $1.4 million will help power the women-owned company’s high-growth trajectory. DeeBee’s produces all-natural shelf stable organic freezer pops called SuperFruit Freezies that are sold in over 15,000 retailers across North America. Funding will help DeeBee’s develop three new organic food products, increase its intellectual property and trademarks, and market its products internationally. This will create up to 20 new jobs and tens of millions in revenue growth.

Minister Sajjan also announced support to two other companies.

Codename Entertainment Inc. is also receiving $1.35 million through the BSP program. Codename Entertainment is an industry-leading video game studio that has produced highly successful games, including the officially licensed Dungeons & Dragons game: Idle Champions of the Forgotten Realms – which is available on platforms including Steam, Epic Games Store, Xbox, and PlayStation. With BSP funding, Codename will reach new international markets by translating Idle Champions into ten more languages. The company expects to increase their workforce by 25% and generate millions of dollars in additional sales.

Peloton Technologies, Inc. (Peloton) will also receive $500,000 in BSP funding. Peloton offers a cloud-based payment platform that allows their customers to consolidate all banking and

payment activity into a single portal. With BSP funding, the company will expand its client base

by marketing innovative branded solutions to partners looking to switch merchants from paper-based transaction methods to streamlined digital payments. Federal funding will help create up to 12 new jobs and millions in revenue growth.

Promoting innovation is a priority for PacifiCan. These investments will generate jobs and growth on Vancouver Island and help position British Columbia as a leading destination for high-growth companies.

Innovators interested in the BSP program are encouraged to visit our website as the program is currently accepting expressions of interest until July 27, 2022 at 12:00 pm PDT.

 

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