Supporting innovation for a stronger Quebec economy

Minister Mélanie Joly announces more than $16M in Government of Canada support for businesses and organizations developing innovative solutions

MONTRÉAL, July 13, 2020 /CNW/ - Canada Economic Development for Quebec Regions (CED)

It is with the help of new technologies that entrepreneurs succeed in developing new products, improving production methods, deploying new marketing strategies and implementing new organizational practices.

Businesses and organizations across all sectors need innovative solutions to stand out from the competition, enhance their productivity and ensure sustainable growth.

46 Quebec businesses and organizations benefit from $16.4M to develop their ideas

The Quebec entrepreneurial ecosystem abounds with SMEs that have developed technological solutions to optimize how they produce goods and offer services. These solutions are enabling Quebec to be more resilient in the face of economic issues caused by the health crisis.

For many years now, the Government of Canada has set itself the mandate to boost innovation and the marketing of these initiatives, to the benefit of businesses and consumers. The Minister of Economic Development and Official Languages, the Honourable Mélanie Joly, today announced financial support totalling $16,425,487 for 46 innovative projects that have emerged out of the ingenuity of homegrown entrepreneurs.

These contributions make it possible to develop interactive solutions, specialized software, tailored digital platforms, online instruction programs and biotechnology products.

Bolstering accelerators and incubators to propel innovation

In addition to investing in innovative businesses, CED works in synergy with Quebec's business incubators and accelerators. They offer crucial support for young, innovative businesses with high growth potential (start-ups) at all phases of their existence, nurturing talent and innovation.

This is particularly the case for the accelerator for the creation of technological businesses (ACET), the Centre de l'entrepreneurship technologique de l'ETS (Centech) as well as Québec International, Entrepreneuriat Laval, which are receiving non-repayable contributions of $5M and $2M, respectively. This support will strengthen the dynamism of the innovation ecosystem by mobilizing incubators, accelerators and other community stakeholders (universities, college centres for technology transfer, consortiums and research centres, etc.) around shared projects.

Additional information on the projects and financial assistance is provided in the related backgrounder.

The COVID-19 pandemic has propelled key technology trends forward, including in the areas of teleworking, entertainment, mental health, online shopping and digital payments, 3D printing and robotics. Rather than being forced to juggle with a slowdown in activity during the crisis, the technology field has above all witnessed the creation of opportunities for development, and is even considered as a solution to the current crisis and to help overcome future challenges.

Innovation will play a major role in the fight against the devastating effects of the pandemic, and the Government of Canada will continue to be a key player in supporting technological development.

Quotes

"Across the country, technology is transforming traditional industries, business development and the way we collaborate. Helping businesses to innovate so they can enhance their competitiveness and create good-quality jobs has been at the heart of our priorities for many years now. We are supporting these Quebec SMEs, whose success is well established and who will be part of the solution to bring good jobs back to Quebecers, to contribute to the vitality of our local economies and, for some, to fight against the pandemic. As today's announcement signals, we were here for them before the pandemic, and we will continue to work together to find solutions and come back even stronger."

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

"We know that innovation can contribute significantly to improving the existence of citizens in Canada and around the world, who must constantly deal with global trends marked by rupture and change. The situation we are currently living is a good example of this. The Government of Canada is committed to stimulating innovation to enhance the long-term productivity and competitiveness of businesses and organizations. We are also proud to be able to offer better support to business incubators and accelerators, a true technological engine for the future."

Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec)

Quick facts

• The Honourable Mélanie Joly is the minister responsible for the six regional development agencies (RDAs), including CED.
• Funds are being granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
• CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED is accompanying Quebec businesses, supporting organizations and regions into tomorrow's economy.

Related links

• Make Canada a world leader in innovation by supporting incubators and accelerators driven by excellence
• Canada's COVID-19 Economic Response Plan

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SOURCE Canada Economic Development for Quebec Regions