Financial assistance granted through the Quebec Economic Development Program (QEDP)
Promoter:
Provance Technologies Inc.
Description - Investment - Contribution
Repayable contribution of $350,000 on a total investment of $1,500,000.
The investment will go to supporting the commercialization of the latest version of the company’s IT Asset Management and Data Management products—integrated asset and software licence management systems for large enterprises—developed for the Microsoft System Center platform. Provance Technologies thereby hopes to increase its international network of resellers in order to improve its market penetration.
The project involves hiring new marketing and sales staff, improving the company’s Web site, developing new tools such a brochures, organizing WEB seminars, translating the software into multiple languages and taking part in international conferences, events and trade shows.
By bolstering its commercialization efforts, Provance Technologies will be in a position to significantly increase its international sales and profitability. The firm also expects to create five new jobs between now and the end of the year.
Promoter:
BoldRadius Solutions Inc.
Description - Investment - Contribution
Repayable contribution of $300,000 on a total investment of $607,000.
As part of this project, BoldRadius Solutions is expanding to the west coast of the United States with their Scala Developer Factory program, a unique training offering that allows organizations to adopt the Typesafe Reactive Platform internally, quickly and efficiently.
The funding will allow, among other things, BoldRadius to hire a general manager for the United States and to secure office space. This project is expected to generate a substantial increase in sales abroad over the next two years and will create six jobs.
Promoter:
Description - Investment - Contribution
Repayable contribution of $100,000 on a total investment of $420,000.
This project is aimed at the domestic commercialization of TekTrap System’s CargoKeeper, an innovative solution for the monitoring and tracking of shipping containers. The investment will enable the enterprise to hire a sales director, take part in trade shows and cover other commercialization-related expenses.
TekTrap System thus expects to significantly increase its sales and create up to four new jobs.
Promoter:
Festival de montgolfières de Gatineau Inc.
Description - Investment - Contribution
Non-repayable contribution of $180,000 on a total investment of $10,000,000.
The assistance announced today will support the domestic and foreign commercialization of the 27th and 28th editions of the Gatineau hot air balloon festival. This will allow Festival de montgolfières de Gatineau Inc. to undertake Web, conventional media and in-person promotional campaigns on the northeastern United States and Ontario markets. The organization also intends to revamp its Web site and develop and improve its mobile app tools.
The Gatineau hot air balloon festival generates more than $13 million in annual economic spinoffs and adds to the reputation of the City of Gatineau and of the National Capital Region as a prime tourist destination.
Summary:
Total number of projects: 4
Total contribution from Canada Economic Development: $930,000
Total investment generated by these projects: $12,527,000
