Subjects: ECO, CPG, CFG
Government of Canada invests in innovation and growth with support for EVAH Corp.
The business receives a total of $800,000 in financial assistance from CED.
LAVAL, QC, Oct. 18, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting innovation and growth contributes to economic development in Quebec's regions. That is why Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED, the Honourable Soraya Martinez Ferrada, today announced two repayable contributions totalling $800,000 for EVAH Corp. This CED support has enabled the business to cover external professional fees and to acquire equipment to ensure its growth by establishing a laboratory and research and development office in Laval focusing on animal health.
Founded in 2020, EVAH Corp., a biotechnology business that first began operating in Saint-Hyacinthe, works in the animal health sector. The business is positioning itself in an international market where the research and development of alternatives to traditional antibiotics is necessary. Its team of managers and scientists are focusing on the acquisition and development of technologies and collaborating with research and development experts to bring its solutions to the pre-commercialization stage.
An initial contribution of $500,000 has made it possible to cover external professional fees related to the certifications needed for technologies and scientific conferences, as well as professional fees related to the protection of intellectual property. The second contribution, in the amount of $300,000, has enabled EVAH Corp. to acquire and install laboratory and research equipment, including two collaborative robots, a biosafety cabinet, a spectrophotometer, a gel apparatus, as well as a centrifuge and ultracentrifuge.
The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy.
Quotes
"Our government is committed to investing to ensure our SMEs remain competitive and innovative. Thanks to CED's support, Laval's EVAH Corp. has been able to cover professional fees and acquire and install laboratory and research equipment to continue to innovate in the life sciences field. We are here to assist workers and Quebec and Canadian SMEs by helping them equip themselves well to build a stronger, more resilient, more sustainable economy together."
Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED
"Helping a business grow and innovate so it can share an important technology with those living in Canada is a priority for our government. That is why we are supporting this promising project by EVAH Corp., which recently opened its new scientific laboratories in Laval. Its success and the spin?offs of its projects will be felt across the Greater Montréal region and throughout the Quebec and Canadian economy as a whole. I am delighted with our government's assistance for this business and the impact EVAH Corp. will have on the animal health sector."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
"We are grateful for the federal government's support, which is enabling us to continue to innovate in the field of animal health. This new infrastructure in Laval marks an important step in EVAH Corp.'s growth and strengthens our ability to offer innovative solutions to meet the growing needs of the industry both in Canada and internationally."
Michel Fortin, Co?-?founder and President and CEO, EVAH Corp.
Quick facts
- The funding announced today has been granted under the Jobs and Growth Fund (JGF). This program targets businesses and economic organizations to help them prepare local economies for long?term growth. This involves strategic investments in projects that will reduce Canada's environmental impact and foster a green, resilient economy.
- Funding has also been provided under CED's Regional 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.
- In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
- CED is the key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
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SOURCE Canada Economic Development for Quebec Regions
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