Games attract new business

A $1.5-million Olympic Games-time program to attract new business to Metro Vancouver is close to securing multiple deals worth "multimillions of dollars," Vancouver Economic Development Commission business development director Lee Malleau said Friday.

"We know for sure we have six to eight deals moving along now," she said. "One local company is finalizing a deal to do a technology transfer with an Asian company and we expect to make a formal announcement soon."

Malleau said companies from the U.S., India, Australia and Germany also appear to have committed to making investments in metro Vancouver.

Nine Metro Vancouver municipalities participated in an Olympic business-hosting venture -- the Metro Vancouver Commerce 2010 Business Program -- funded with $800,000 from the federal Western Economic Diversification fund and the rest from Vancouver, Surrey, Richmond, North Vancouver City, North Vancouver District, New Westminster, Port Moody, Coquitlam and Maple Ridge.

The program hosted 100 executives from 72 global companies interested in investing in Metro Vancouver. They paid their own way here and back, but all their needs were covered by Metro Vancouver Commerce during their four-day stay, when they toured venues and municipal sites and received tickets to Olympic events.

"Some of our guests have told us this has been some of the best business networking they have done," Malleau said. "The Olympics have been the perfect platform to do that -- connecting global executives with local companies and with other global companies here during the Games.

"Certainly the energy and enthusiasm of the Games creates a very high-energy, emotive environment that allows for some pretty strong bonding during these great sports experiences."

She said several companies looking to establish a Metro Vancouver presence want to use the region as a launching platform to expand into the U.S. and Asia.

bconstantineau@vancouversun.com