Close to $700,000 for five highly innovative businesses in Estrie
News Release
The funding will be used for start-up and commercialization activities of technology SMEs
Wednesday, April 19, 2017 – Sherbrooke, Quebec – Canada Economic Development for Quebec Regions (CED)
Innovation is a true economic driver that helps our businesses grow, thus creating high paying jobs that benefit communities and the middle class. Businesses need to be able to rely on adequate resources to design and manufacture innovative products and commercialize them in Canada and abroad. That is why the Government of Canada is committed to supporting innovative Canadian enterprises.
The Honourable Diane Lebouthillier, Minister of National Revenue, and the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, jointly announced that $675,000 in financial support, in the form of repayable contributions, has been granted to five businesses in the region.
SPI BIO Inc. ($175,000), Imeka Solutions Inc. ($150,000), Agendrix ($150,000), LUMED Inc. ($100,000) and Immune Biosolutions Inc. ($100,000) will now be able to accelerate their development, notably by intensifying their commercialization activities in Canada and abroad.
The region has the good fortune of having an incubator—ACET (Accélérateur de création d’entreprises technologiques)—supporting new entrepreneurs and fostering the start-up of innovative SMEs. These five businesses were able to count on support from ACET, which received nearly $600,000 in financial support from CED. ACET is housed in the building of Université de Sherbrooke’s Interdisciplinary Institute for Technological Innovation – 3IT, whose mission is to offer all of the components of a complete innovation chain under one roof. 3IT was recently granted nearly $3,000,000 in financial assistance to help Quebec SMEs accelerate the development of their innovative products and processes.
CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
Quotes
“The Government of Canada is committed to promoting the role of innovation as an important way of encouraging business diversification and growth. That is why we are pleased to support the start-up of five highly innovative SMEs in Estrie.”
The Honourable Diane Lebouthilier, Minister of National Revenue
“These five young businesses illustrate Sherbrooke’s entrepreneurial vigour, whether in IT, life sciences or clean tech. I am delighted about the Government of Canada’s support, which underscores the importance of innovation for the region’s economy and for the entire country.”
The Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie
“The Government of Canada is committed to supporting Canadian businesses that are focused on innovation. Our goal in supporting these five enterprises is to work with one another to deliver on our commitments and get results for Canadians.”
The Honourable Navdeep Bains, Minister responsible for CED
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Contacts
Media Relations
Canada Economic Development
for Quebec Regions
Tel.: 514-283-7443
Email: dec.media.ced@canada.ca