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Federal investment will establish British Columbia as an innovation leader for social purpose business models

United Way of the Lower Mainland receives funding to establish the Social Purpose Institute

April 16, 2019 – Burnaby, British Columbia – Western Economic Diversification Canada

The Government of Canada is supporting British Columbia companies to integrate social purpose into their business models. Overall, companies that adopt a social purpose perform better in market growth, with new opportunities to maximize profits and grow shareholder value.

Today, the Honourable Karina Gould, Minister of Democratic Institutions, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada (WD), announced $1,059,357 in funding over four years towards United Way of the Lower Mainland’s new Social Purpose Institute (SPI).

This initiative, launched by United Way of the Lower Mainland, aims to share tools and tactics within the social innovation sector in order to promote economic growth and social purpose in British Columbia. The Institute will promote cross-sector collaboration, skills development, and growth in British Columbia’s social innovation sector.

Through this investment, the SPI will create at least 70 jobs, many of which will be filled by women and Indigenous people. It will also increase the number of businesses in British Columbia adopting social purpose business models by providing hands-on activities and services to at least 60 small- and medium-sized enterprises (SMEs) and larger companies. The SPI will support businesses by delivering workshops and training, and providing learning opportunities and consulting services for companies to create pathways to revenue growth and improved social outcomes.

A strong economy is essential for inclusive job creation and social innovation. Canada’s Innovation and Skills Plan aims to build an economy in which Canadians have access to high-quality jobs and Canadian businesses are well-placed to participate in a rapidly evolving and competitive global marketplace.

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