02 October 2017 0 Comments Posted By : administration

Vancouver startup incubator accused of fraud; employees not paid for months

A once-promising Vancouver start-up incubator with links to the Chinese market is now being investigated by B.C. authorities, after reports surfaced that the company’s 300 employees have not been paid since June.

Istuary Innovation Labs Ltd. is now also facing a number of lawsuits from investors who said the company’s owners, Yian “Ethan” Sun and Yulan “Amy” Hu, misused investments from at least four individuals.


A spokeswoman from B.C.’s Ministry of Labour confirmed Friday that Employment Standards has a file open on Istuary after being notified in late June that workers were not being paid. 


“Since the file was opened, there has been 122 individual complaints received on the case, on top of the initial file,” a statement from the Labour Ministry said. “Employment Standards is currently working through the evidence and should deliver the results [of the investigation] soon.”


The company was at one time one of the higher-profile startup incubators after entering Vancouver in 2013, noting its network of 20-plus offices in North America and China. The company touted its abilities to get Vancouver entrepreneurs the funding needed to perfect research projects, then to scale-up operations and sell to high-growth markets like China.


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