Government of Canada invests in five highly innovative Québec City SMEs
Backgrounder
January 19, 2017 – Québec City, Quebec – Canada Economic Development for Quebec Regions (CED)
Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, announced $1,060,000 in financial support, in the form of repayable contributions, for five innovative Québec City enterprises. The funding has been granted under CED’s Quebec Economic Development Program (QEDP).
The funding allocated by CED to Megatech Precision Machining, Telops, SiliCycle Inc., Poka and Cortex Media will be used to grow the enterprises through the acquisition of equipment or the implementation of commercialization strategies.
Promoters
Megatech Precision Machining
Megatech is a very innovative SME specializing in the precision machining of highly complex, value-added small parts and small series destined mainly for high-tech enterprises. The business is integrated into the value chains of many world-class prime contractors in the optic-photonic, aerospace, military, bionic and medical sectors.
The project involves the acquisition of numerically controlled precision machining equipment and expansion of the facilities and covers costs associated with the integration of the business’s activity planning and management tools. CED’s assistance will be used to purchase equipment to optimize productivity.
The project is expected to create 20 jobs.
Telops
Telops is a highly innovative, world-class SME that designs, manufactures and commercializes high-performance infrared and hyperspectral cameras for the environmental, defence and academic research sectors.
CED’s financial assistance will be used to manufacture demonstration cameras to be tested by potential clients. Telops will also carry out a series of commercialization activities targeting its clients in the American, European and Asian markets.
The project is expected to create 2 jobs.
SiliCycle Inc.
SiliCycle manufactures many silica-based product lines for chromatography and for the purification and separation of chemical compounds. Its main clients are pharmaceutical, clinical and biotechnological enterprises, as well as university laboratories and chemistry research centres.
CED’s assistance will help this highly innovative enterprise purchase and implement automated management software that will help the business improve productivity and efficiently manage its subsidiaries in Quebec and abroad.
The project is expected to create 10 jobs.
Poka
Poka is a young SME that develops and commercializes a collaborative communications multiplatform for small and large manufacturers. The application is an industrial social network that stores all of an enterprise’s data and procedures and communicates them in real time to employees, mainly through photos and videos.
CED’s assistance will help this business start-up commercialize its collaborative communications platform in Canada and the United States.
The project is expected to create 2 jobs.
Cortex Media
Cortex Media is an SME that provides specialized, distinctive computer services for Web and mobile solutions, through the use of pioneering technologies. It also plays a consulting role in Web accessibility and information architecture.
CED’s assistance will help this highly innovative enterprise increase sales through commercialization activities in the United States, more specifically, the New York market.
The project is expected to create 2 jobs.
| Summary | |
|---|---|
| Number of projects: | 5 |
| Total contribution from Canada Economic Development: | $1,060,000 |
| Total investment generated by these projects: | $6,365,000 |
| Jobs created: | 36 |
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