InB.C. Investment Corp. and Simon Fraser University have announced the SFU Innovates Venture Fund, a co-investment partnership designed to accelerate the commercialization of SFU research and discoveries into B.C.-based companies. The announcement was made at Web Summit Vancouver.

The fund is seeded with $7.5 million from SFU and a matching $7.5 million from InBC, which will also provide investment expertise including due diligence and portfolio management support. SFU is seeking additional investments and philanthropic gifts to grow the total to $20 million. It will focus on early-stage companies built on technologies developed by SFU researchers, students, and alumni, with a priority on life sciences, deep tech, and cleantech.

The partnership builds on a track record that includes more than 500 ventures supported to date, with SFU spinoff companies generating over $120 million in revenue since 2020. Notable examples include Photonic Inc., a Vancouver-based quantum computing firm that has raised $375 million and created more than 160 jobs, and Moment Energy, the Coquitlam-based company repurposing EV batteries into commercial energy storage systems that recently closed a US$40 million Series B.

"SFU has always been a place where ideas don't just stay in the lab; they grow into real ventures and real impact," said Dugan O'Neil, vice-president of research and innovation at SFU. "We are excited to launch this new fund to accelerate the translation of breakthrough research into real-world impact."

The fund is also designed to retain B.C.-developed intellectual property and talent in the province. Thomas Park, chief investment officer at InBC, said the partnership is about "building momentum in key growth industries to maximize economic impact" — with a focus on sectors where B.C. already has competitive strengths.