UVic buys Vancouver Island Technology Park

by Maria Lironi

Maria Race, a UVic grad and technician at the UVic-Genome BC Proteomics Centre, prepares a sample for analysis. The centre is one of 23 tenants at VITP.

The University of Victoria is the new owner of the Vancouver Island Technology Park (VITP), an ultra-modern research and technology transfer centre located at the site of the former Glendale institution in Saanich.

The purchase of the VITP—which has the greatest concentration of high-tech companies and workers on Vancouver Island—will help power the continued growth of the region’s high-tech sector.

“This acquisition will allow UVic to continue fostering the start-up and growth of high-tech companies on Vancouver Island, moving the university, VITP and the sector to the next level,” says UVic President Dr. David Turpin.

UVic president David Turpin, left, and Derek Smith, lab manager at the UVic-Genome B.C. Proteomics Centre.

“It also means that, by building on the solid foundation established by the B.C. Buildings Corporation (BCBC), we can provide a range of commercial space for UVic research-generated, spin-off businesses and outside high-tech companies.”

The university is funding the $20.2-million purchase through revenue from the facility. The purchase will not affect UVic’s operating budget or operations on campus. As well, staff in the existing VITP office will continue to run the facility and the change in ownership will not affect the status of VITP tenants.

The park will be operated as a business under University of Victoria Property Investments Inc. and overseen by a separate board at arm’s-length from the university, says Jack Falk, vice president finance and administration.

VITP was established by the provincial government to provide the physical infrastructure to link local resources with emerging or growing technology companies. The 14.2-hectare site opened in April 2002 under the aegis of BCBC.

Zoning for the VITP property and the master plan for the site will allow the total building space to more than double over time to provide for the growth of existing tenants and to accommodate the needs of new high-tech companies.

UVic already provides on-campus incubator space to emerging businesses through its technology transfer office, the Innovation and Development Corporation (IDC), which is responsible for the birth of 35 spin-off companies.

The park is operating at 95 per cent capacity with 23 tenants—a mixture of technology, research, commercial and industrial companies—employing 1,200 people and directly contributing $75 million annually to B.C.’s economy. All operate within the technology clusters identified by the provincial government as critical to economic growth in B.C.
A number of the companies got their start at UVic, involve UVic graduates or employ UVic co-op students.

Most major research institutions in the U.S. have developed or are affiliated with research and technology parks, and several universities in Canada have created similar relationships.

For more information on current VITP tenants, visit uvic.ca/ucom/ releases/vitp-tenants.html.

Related story: VITP at a glance »