Canada to invest over $25.7 million to boost innovation and economic growth in Vancouver

The federal government is doling out more cash in B.C. this time to help the growth and innovation of 10 Vancouver-based companies.

Harjit Sajjan, the minister responsible for the Pacific Economic Development Agency of Canada, announced eight companies will receive just over $16 million from a federal scale-up and productivity fund.

Nearly $10 million from a jobs and growth fund will be split by two other companies and the government says businesses benefiting from the cash include one using bioprinting technology to find treatments for incurable diseases.

The statement from Sajjan's office says the nearly $26 million in total funding will create 500 jobs, more than $500 million in revenue growth, and over $400 million in new global sales for B.C. companies.