Government of Canada provides funding for five highly innovative SMEs
News Release
Financial assistance provided for five Québec City enterprises expected to create 36 jobs
January 19, 2017 – Québec City, Quebec – Canada Economic Development for Quebec Regions (CED)
The Government of Canada is determined to prioritize innovation, which generates growth that benefits SMEs and the communities. For sustained and inclusive growth, the Canadian economy needs enterprises to invest more in commercialization and the acquisition of equipment that will help increase their productivity and competitiveness.
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 that $1,060,000 in financial support, in the form of repayable contributions, has been granted to five innovative Québec City enterprises. The funds were awarded under CED’s Quebec Economic Development Program (QEDP).
The funds 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 a commercialization strategy.
Quotes
“I am delighted about the Government of Canada’s support for enterprises such as Megatech Precision Machining, Telops, SiliCycle, Poka and Cortex Media, whose activities are showcasing regional know-how abroad. In their own way, these are all high-performance businesses that contribute to our region’s economic growth as well as Canada’s, notably through innovation, a key economic driver.”
The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development
“The Government of Canada is committed to making Canada a global leader in innovation. That is why I am proud that CED is supporting these five Québec City enterprises that dared take up the challenge to seize new business opportunities.”
The Honourable Navdeep Bains, Minister responsible for CED
CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
Related document:
For more information on the five projects, read the attached backgrounder.
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Sources:
Media Relations
Canada Economic Development
for Quebec Regions
Tel.: 514-283-8818
Email: dec.media.ced@canada.ca
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