New technology agency to target economic development

Vancouver, BC- April 26, 2004 – The Innovation and Science Council of British Columbia (ISCBC) and the Advanced Systems Institute of BC (ASI) will be merged into a new Crown agency, the BC Innovation Council, to centralize the government’s technology development and commercialization programs.

Cindy Lum, former CEO of ISCBC, has been appointed the new Crown agency’s chief operating officer.

The BC Innovation Council is being charged with the task of fostering province-wide economic development and providing one-stop point of access and support to high technology companies, educational institutions, technology industry awareness groups, federal science and technology agencies and university research labs.

In addition to supporting applied research and commercialization of science and technology, the new council will take over the administration of the province’s Science and Technology Fund from the Ministry of Small Business and Economic Development.

Established in 1978 as a Crown agency, ISCBC promoted the province’s science and technology sector’s economic development potential by assisting technology transfer from research labs to industry and subsequent development and commercialization of world-class technology products. In addition, it recognized and supported the development of science students, researchers, and technology entrepreneurs.

ASI, established in 1986 as a non-profit foundation, helped to build a globally competitive advanced technology sector in BC by administering funding programs, mentoring early stage companies and organizing networking events for researchers and industry across the province.
The merger committee will begin the transition period in April and complete the merger by September.