Unveiling of the names of the ten winning companies in the CED Fast Forward Challenge
The Government of Canada awards a total of $500,000 in grants to an ingenious next generation
August 30, 2019 – Montréal, Quebec – Canada Economic Development for Quebec Regions (CED)
The CED Fast Forward Challenge specifically aims to strengthen the regions’ assets by building on boldness and ingenuity. For the Government of Canada, talent, especially entrepreneurial talent, is the most important resource. By supporting start-ups, the government is acknowledging the importance of innovation for driving the Canadian economy and creating high-quality jobs for the middle class.
The Honourable David Lametti, Member of Parliament for LaSalle–Émard–Verdun, Minister of Justice and Attorney General of Canada, today announced the names of the ten innovative start-up companies that were proclaimed as winners of the first Fast Forward Challenge, each of which earned a $50,000 grant.
They are: CANN Forecast Logiciel Inc., Cigogne Technologies Inc., Femtum Inc., Laboratoire Innodal, Puzzle Medical Devices Inc., Pyrocycle, SB Technologies Inc., Solutions Keenoa Inc. (commonly known as Keenoa), Hoola One Technologies Inc., and Wastack (943129 Canada Inc.). These ingenious entrepreneurs will be able to turn their business projects into reality because the ten companies will receive grants totalling half a million dollars awarded by Canada Economic Development for Quebec Regions (CED).
The CED Fast Forward Challenge is a pilot project that aims to support innovative entrepreneurship in young people. Launched in January 2019, this competition offered 10 start-up companies in high-tech sectors the possibility of receiving a $50,000 grant. Roughly 72 companies from various regions of Quebec took part in the competition. Out of those, 20 finalist projects were presented to an expert panel on May 27 and 28.
The CED Fast Forward Challenge reflects the Government of Canada’s commitment, under the Federal Strategy on Innovation and Growth for the Quebec Regions, to foster the development of new companies by investing in innovation and talent. It will help increase the number of young people who will be at the forefront of innovation in Quebec in the coming years. Supporting innovative start-ups is also one of CED’s priorities.
“Through the Government of Canada’s support, these young talents will be able to turn their entrepreneurial dream into reality. I’m really keen to see the results in the field from the projects carried out by the winners of the CED Fast Forward Challenge. A new generation of innovative entrepreneurs is building a very bright future for us.”
The Honourable David Lametti, Member of Parliament for LaSalle–Émard–Verdun, Minister of Justice and Attorney General of Canada
“Young innovative businesses are key to the strength of the Canadian economy. The financial assistance awarded to these companies is concrete support for the next generation of entrepreneurs in high-tech sectors, in keeping with the Federal Strategy on Innovation and Growth for the Quebec Regions. Congratulations to the winners and to all those who want to go into business by venturing off the beaten path.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
Today’s announcement is made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which comprises 17 federal departments and agencies including CED and the other five regional development agencies.
Launched in January 2019, the CED Fast Forward Challenge is a pilot project for encouraging innovative entrepreneurship in young members of the engineering community.
It stems from the Federal Strategy on Innovation and Growth for the Quebec Regions. Led by CED, with the participation of other federal departments, the Strategy targets four priorities and 14 areas for action to promote the adoption and development of innovative practices and ensure growth for everyone and for all Quebec regions.
The funding was awarded under CED’s Regional Economic Growth through Innovation (REGI) program. To find out more about CED and its priorities, see the 2021 Departmental Plan or visit www.dec-ced.gc.ca.
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