Madam Chair and members of the committee, thank you very much for inviting me to appear today.
My name is Naina Sloan, and I am the vice-president of programs and partners at Pacific Economic Development Canada, or PacifiCan.
I am in Ottawa with you today, but I am usually B.C.-based. I would like to acknowledge that PacifiCan's work takes place on the traditional territories of more than 200 first nations, whose contributions enrich our environment, economy, communities and identity.
PacifiCan is a new federal development agency that was established in 2021 to focus on economic development in British Columbia.
Along with our sister agency, Prairies Economic Development Canada, or PrairiesCan, PacifiCan was built out of the legacy of Western Economic Diversification.
PacifiCan staff are rooted in the regions they serve from eight locations across B.C.
Our work contributes to enduring prosperity for all British Colombians.
Our work contributes to enduring prosperity for all British Columbians. Through investments, pathfinding, convening and advice, we pursue four goals: high-quality jobs, globally successful businesses, competitive industries and an inclusive economy.
Exports are critical to advancing all four of these goals. In 2022, B.C. exported over $100 billion worth of goods and services internationally, with almost 80% of those goods being exported to the U.S., China and Japan. Service exports from B.C. have been growing and, in 2022, accounted for over 30% of B.C.'s exports.
In B.C., small and medium-sized enterprises, or SMEs, represent 99% of all businesses. However, they accounted for only 26% of our merchandise exports in 2022. Given this reality, we focus on helping small and medium-sized enterprises grow, export and participate in global value chains. This in turn helps create quality jobs and economic benefits in B.C. and Canada.
We support SMEs in three ways.
First, we work with innovative companies directly, providing loan-type supports so that they can expand and improve their productivity and exports.
Second, we invest in industry and other ecosystem organizations, which in turn provide tailored expertise and services.
Third, we work with federal, provincial and local partners, including the trade commissioner service, to pathfind or provide joined-up support where it makes sense.
I would like to give you a few examples.
First is Clarius Mobile Health. Clarius creates cost-effective and portable ultrasound scanners. This technology, which is now hitting several international markets, provides real-time imaging at clinicians' fingertips, thus improving patient care while reducing health care costs.
PacifiCan's first investment in Clarius helped the company gain access to South American and Middle Eastern markets. In fact, it was able to access 10 new international markets and secure $18 million worth of new sales.
Our second investment with Clarius is just getting started. It will help the company access additional U.S. and Asian markets.
Clarius's success also resulted in the company becoming one of eight Canadian companies to be accepted into the federal global hypergrowth program, which is designed to help medium-sized companies grow and become larger Canadian anchor firms. The program is administered by ISED along with partners, including PacifiCan. It helps companies pursue international expansion.
The second project I will highlight for you is the export navigator program, which helps provide companies with the services they need to become export-ready. We cofund this program with the Province of British Columbia. It's delivered by Small Business BC, which provides tailored services. These supports are complementary, but usually at an earlier stage than those provided by the trade commissioner service.
The program connects participating small businesses with locally based expert advisers, or navigators, who help them prepare to export.
One of the companies the export navigator helped is Okanagan Crush Pad. Through the advice it received from its navigator, it was able to expand its reach and sell into new markets in the U.K. and Scandinavia.
Finally, I'll highlight the integrated marketplace initiative. With significant investment from PacifiCan and the Province of B.C., as well as the participation of partners such as the Vancouver Airport Authority and the ports of Prince Rupert and Vancouver, this initiative works to de-risk the adoption of domestic innovations. By linking talented local companies with large organizations or customers, participating companies gain reference customers in B.C., which can help them achieve sales in key markets abroad. The institutional participants and partners function as test beds and buyers, accelerating their adoption of innovation and making them more competitive.
I'll conclude my opening remarks here, and I'll be happy to answer any questions you have.
Thank you.