Supporting innovation for a stronger Quebec economy – Canada.ca
Minister Mélanie Joly announces more than $16M in Government of Canada support for businesses and organizations developing innovative solutions
Montréal, Quebec, July 13, 2020 – 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.