B.C. tech company lands $800K in federal funding
An Okanagan tech company with a goal of helping athletes and tracking concussions was awarded a massive grant this week.
On Tuesday, the federal government announced that XCo Tech of Penticton was awarded $800,000 to grow its business and help create jobs. The money came from the Western Innovation Initiative (WINN) and will be used to help XCo commercialize its attempts to provide new insights into athletic performance.
“The WINN funding will allow us hire the talent we need to bring our athletic training and concussion innovations to market,” said XCo CEO Scott McMillan. “It is great to be recognized by the federal government that XCo’s technology and products have the potential to have a dramatic impact on the performance and safety of athletes and on the assessment, treatment and rehabilitation of concussions suffered by individuals.”
“The Government of Canada is working hard to help Western Canadian entrepreneurs turn their ideas into thriving businesses and create good middle class jobs,” said Navdeep Bains, the federal Minister of Innovation, Science and Economic Development. “Through the Innovation and Skills Plan and funding programs such as the Western Innovation Initiative, we are helping to propel innovative entrepreneurs and businesses into global success.”
XCo’s XPS platform is aimed at delivering an innovative training system for athletes and a comprehensive concussion assessment product. According to XCo, the platform features “motion-tracking data with biometric and cognitive digital biomarkers to better measure human performance and health in future applications.”
“The advanced technology being commercialized by XCO Tech Inc. not only has potential to significantly enhance future methods of coaching, athletic development, and sports rehabilitation, but will also create new jobs for highly qualified personnel and economic growth for British Columbia and beyond,” said Harjit Sajjan, Minister of National Defence.
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