In the last 5 years at the University of Victoria (UVic), entrepreneurial activities have increased about tenfold. Specifically in the last two years, there has been noticeable growth in the life sciences area, with now more than 40% of startup companies are life sciences related. This exciting growth signifies the need to establish dedicated and systematic programming to better support life sciences startup companies, entrepreneurs, and innovators at UVic and the Greater Victoria area.

The Coast Capital Innovation Centre (CCIC) at UVic works with life sciences entrepreneurs one-on-one to develop catered support mechanisms by providing connections to Executives in Residence, mentors, and subject matter experts to develop entrepreneurial skills to foster professional growth and development. Additionally, CCIC supports entrepreneurs in bringing their product to market and hopes to establish a support network for burgeoning life science companies.

Throughout the project the CCIC supported 38 new life science ideas through entrepreneurial training and mentoring, trained 68 entrepreneurs, helped attract ~$19,000,000 in government and private investment to start up and growth-stage companies and helped start-up and growth-stage companies generate approximately $1M in revenue.

In addition, the CCIC launched the novel entrepreneurial mindset program, “Research to Real-World Application”, primarily designed for graduate students and postdoctoral scholars in the life sciences. The program had 100 applications and 71 participants for the two cohorts. This program will help develop the next generation of life science entrepreneurs in the Vancouver Island region.