Montréal, Quebec, July 7, 2009 – The Honourable Christian Paradis, Minister of Public Works and Government Services Canada and Minister responsible for the Montréal region, today announced that ART Advanced Research Technologies Inc. has been awarded $500,000 in repayable funding through Canada Economic Development’s Business and Regional Growth program (Export Support) to implement a plan to commercialize its innovative products on the United States and other markets. Necessitating an overall investment of $5,067,718, this project to commercialize the company’s Optix® MX3 and SoftScan® products could result in the creation of 61 new jobs in the longer term.
Based in Montréal, ART Advanced Research Technologies Inc. specializes in the design, development and sale of imaging products for the health care and pharmaceutical sectors. To support its expansion into the American market, the enterprise intends to hire sales representatives, carry out advertising and promotional activities and take part in various technical trade shows.
“The Government of Canada is proud to lend its support to ART, an innovative company that is helping Canada build an advantage in knowledge and research and development. In today’s economy, innovation and its commercial applications are powerful engines of growth for small and medium-sized enterprises. That is why our government intends, through Canada’s Economic Action Plan, to invest an unprecedented $5.1 billion in the science and technology sector to support projects that will stimulate the economy and create quality jobs,” stated Minister Paradis.
ART Advanced Research Technologies Inc. will use a targeted commercialization strategy to increase its market presence in the United States and elsewhere and to develop additional tools that will help it become a leader in the high-technology sector of molecular and optical imaging for medical and pharmaceutical uses. Ultimately, this will enable the firm to pursue a sustained pace of development while contributing to the growth of information and life science technologies, two sectors which offer considerable potential for the economic development of the Montréal region.
For more on Canada’s Economic Action Plan, see www.actionplan.gc.ca.
- 30 -
Sources:
Marie-Claude Lemire
Communications
Canada Economic Development
Tel.: 514-283-2199
E-mail: marie-claude.lemire@dec-ced.gc.ca
Stéphanie Desforges
Senior Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Tel.: 514-496-1282
E-mail: stephanie.desforges@dec-ced.gc.ca
