Upper Sunshine Coast Entrepreneurial Ecosystem

Powell River Educational Services Society

Sources of Funding
ICET Contribution:$95,000
City of Powell River:$5,000
Vancouver Island University:$2,500
First Credit Union:$2,500
Powell River Educational Services Society:$12,500
Community Forest Fund:$70,000
Total Budget: $190,000

For the past few decades, Powell River has been transitioning from traditional industries to the knowledge economy. The community is experiencing an influx of remote workers and tech entrepreneurs seeking greater affordability and a balanced lifestyle. In response, the Powell River Education Services Society (PRESS) undertook a sectoral strategy to leverage this economic shift into a sustainable economic driver. A central recommendation in the strategy was development of an innovation hub and workshop series to grow the tech and creative sectors.

In a joint initiative between PRESS, Vancouver Island University and the City of Powell River, the Upper Sunshine Coast Entrepreneurial Ecosystem will deliver programming to incubate local start-ups, foster innovation, and develop a network of mentors to support tech and creative sector entrepreneurs in the Powell River area. The project involves development of a co-working innovation hub, which will host a range of programs from youth coding camps, to e-commerce workshops and targeted entrepreneur training, offering business co-working opportunities for up to 15 clients at a time.

The project is expected to deliver a wide range of benefits. In the short term, the innovation hub will support new business development, help to fill latent opportunities and generate direct economic and employment impacts for contractors, professional service providers and other businesses in the region. Long term, the growth in tech and creative sector initiatives will enhance the region’s overall investment attraction profile, strengthen the tech and creative talent pool and create opportunities for youth to remain in the region. The project is currently underway.

ICET By The Numbers

2,500
person years employment created (construction phase)

ICET By The Numbers

50
locally elected officials and MLAs working together

ICET By The Numbers

$10.4
million annual provincial government revenue generated

ICET By The Numbers

3,650
post completion jobs created

ICET By The Numbers

$4.6
dollars leveraged for every ICET dollar invested

ICET By The Numbers

$236
million leveraged into the region

ICET By The Numbers

$50.5
million disbursed

ICET By The Numbers

$52.1
million committed

ICET By The Numbers

212
economic development projects

ICET By The Numbers

170
projects completed

ICET By The Numbers

36%
projects in small (less than 5,000) communities

ICET By The Numbers

50+
communities with ICET projects

2018-19 Annual Report

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