Nearly $1.4 million awarded to the companies CAMcube and RISEHoP to accelerate their growth
News release
Over $2.4 million in investment projects in the Outaouais region
Gatineau, May 21, 2019 – The governments of Canada and Quebec as well as Investissement Québec award financial assistance totalling $1,375,000 to the companies CAMcube and RISEHoP for supporting projects that represent investments estimated at $2,400,000.
Mr. Steven MacKinnon, Member of Parliament for Gatineau and Parliamentary Secretary to the Minister of Public Services and Procurement and Accessibility, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), and Mr. Mathieu Lévesque, Member of the National Assembly for Chapleau and Parliamentary Assistant to the Minister of Justice, acting on behalf of Mr. Pierre Fitzgibbon, Minister of Economy and Innovation, made the announcement today.
CAMcube
Canada Economic Development for Quebec Regions is therefore awarding a repayable financial contribution of $310,000 to CAMcube to support the establishing of an assembly department within its existing machining centre, which will be used for assembling a new machine intended for manufacturing dental prostheses. CAMcube also plans to do the quality control, certification and marketing for this new equipment.
Investissement Québec is awarding $700,000 to the company from its own funds to support this project, which is valued at $2,010,000.
RISEHoP
The Government of Canada is awarding an amount of $132,500 from the Business Development Bank of Canada as well as a repayable contribution of $50,000 from CED to RISEHoP in order to increase its competitiveness by implementing a marketing and export strategy.
As for the Government of Quebec, through its Programme Exportation (PEX), it is awarding a non-repayable financial contribution of $50,000 to the company so that it can market its products in new international markets, particularly by participating in trade shows and carrying out prospecting missions in the United States, Europe and Asia. Investissement Québec is also providing the company with $132,500 in financial assistance from its own funds to support this initiative.
Note that the RISEHoP project represents $400,000 in investments.
Quotes
“By assisting companies that develop leading-edge technologies here in the Outaouais region, the Government of Canada is standing by its commitment to foster growth, innovation and exports. Whether it be by investing in equipment or in marketing strategies, we are firmly committed to supporting innovative local companies such as CAMcube and Risehop to help them improve their performance and ensure their promotion in new markets.”
Steven MacKinnon, Member of Parliament for Gatineau and Parliamentary Secretary to the Minister of Public Services and Procurement and Accessibility
“Our government is empowering Canadians to become more competitive and to prosper in the global economy. The investments in CAMcube and RISEHoP announced today align with Canada’s competitive advantages through the marketing efforts of these two companies and will stimulate economic growth. They will also create good jobs for middle-class Canadians.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
“In Gatineau, we are privileged to have innovative and determined companies that, like CAMcube and RISEHoP, are committed to growth and export projects, which will take Quebec even further. It is through initiatives like this that we will be able to further stimulate the economic vitality of the Outaouais region and Quebec as a whole.”
Mathieu Lévesque, Member of the National Assembly for Chapleau and Parliamentary Assistant to the Minister of Justice
"In order to increase their productivity and remain internationally competitive, companies need to focus on expanding their facilities and marketing innovative products. CAMcube and RISEHoP fully understand this issue. This is why the Government of Quebec is proud to contribute to the success of their investment projects, which will definitely enable them to take advantage of more business opportunities in Quebec and abroad.”
Pierre Fitzgibbon, Minister of Economy and Innovation and Minister responsible for the Lanaudière region
“Investissement Québec is proud to support companies that innovate and build their own capacity to drive their business further. With these investments and the addition of new equipment, CAMcube and RISEHoP are able to increase their production volumes and more effectively meet the needs of their clients, while maintaining their competitiveness.”
Guy LeBlanc, President and CEO of Investissement Québec
Quick facts
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The company CAMcube specializes in designing and manufacturing digital technologies for dental clinics and laboratories.
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RISEHoP is a company that specializes in the field of agricultural biotechnology, specifically in the production of arbuscular mycorrhizal fungi.
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The objectives of the PEX (website in French only) include making Quebec companies aware of the growth potential of exporting, and then supporting them in breaking into and diversifying foreign markets.
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CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
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CED’s funding for CAMcube was awarded under the Regional Economic Growth through Innovation program, while the contribution to RISEHoP is from the Quebec Economic Development Program.
Contacts
Étienne Boulrice
Constituency Office
of the Member of Parliament for Chapleau
and Parliamentary Assistant to the Minister of Justice
Phone: 819-246-4558
Mathieu St-Amand
Press Secretary
Office of the Minister of Economy
and Innovation and Minister Responsible
for the Lanaudière Region
Phone: 418-691-5650
Jean-Pierre D'Auteuil
Media Relations Officer
Communications Branch
Ministère de l’Économie et de l’Innovation
Phone: 418-691-5698 ext. 4868
Cell: : 418-559-0710
Isabelle Fontaine
Senior Director of Public
and Government Affairs
Investissement Québec
Phone: 514-876-9359
Media Relations
Canada Economic Development for Quebec Regions
Phone: 514-283-7443
Email: dec.media.ced@canada.ca
Related links:
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For more information about CED and its priorities, see the 2019-2020 Departmental Plan or visit www.dec-ced.gc.ca.
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