# Innovate BC

Innovate BC is a Crown Agency based in Vancouver, Canada.

## Overview

- **Organization type:** Crown Agency
- **Headquarters:** Vancouver, Canada
- **Region:** North America
- **Address:** Vancouver, British Columbia, Canada
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** innovatebc.ca
- **LinkedIn:** https://www.linkedin.com/company/innovate-bc

## Regulatory record

- **Reports private funds:** No

## About

Innovate BC supports the development and application of advanced technologies to meet industry needs in BC. The organization accelerates technology commercialization through startup support and entrepreneur development. Innovate BC has made 36 investments, including a grant to Geno10X Biosciences on March 06, 2025, and has facilitated 7 portfolio exits, with Microbiome Insights exiting on May 29, 2025.

## Sectors

- ClimateTech
- Digital Health
- Enterprise Software
- Industrial Tech
- AgriTech & FoodTech

## People

- Peter Cowan — CEO
- Michele Noble — Chief Operating Officer

## Questions

### How does Innovate BC differ from a venture capital firm?

Innovate BC is a crown agency, not a for-profit fund manager. Its mandate is to drive economic development and innovation in British Columbia through grants, training, and co-investments, rather than maximizing financial returns. The agency does not charge management fees or carry, and its capital comes from provincial appropriations, not from limited partners.

### Does Innovate BC require equity for its grants?

Many Innovate BC programs are non-dilutive, meaning they provide grants without requiring equity. However, some programs, such as the BC Tech Fund co-investments, do involve equity participation. The specific structure depends on the program—grants, loans, and equity co-investments are all used by the agency.

### How is Innovate BC governed?

Innovate BC is a crown agency of the Government of British Columbia, meaning its board is appointed by the provincial cabinet. The CEO, Peter Cowan, reports to the board, and the agency's activities are subject to British Columbia's public-sector accountability framework. This includes annual reporting to the legislature and oversight by the Ministry of Jobs, Economic Development and Innovation.

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Last updated: 2026-06-03T20:00:00.000Z

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