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 UVic Innovation Centre 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.

The UVic Innovation Centre programming resulted in:

• Training of 35 entrepreneurs, half of which are women
• Attraction of $1.8 million in government investment in life sciences companies
• Attraction of $3.5 million in private investment in life sciences companies
• Commercialization of new and innovative technologies
• Establishing the Greater Victoria area as a regional leader in life sciences innovation

The UVic Innovation Centre is the first life sciences-based incubator support to develop budding companies and entrepreneurs on Vancouver Island. Through the success of these companies, the UVic CCIC will help bring new innovative life science technologies to market, create new businesses and jobs, increase intellectual property within the region, develop more C-suite positions for women, and excel the regional reputation of BC.