MONTREAL, Dec. 4, 2013 /CNW Telbec/ - Aéro Montréal, Québec's aerospace
cluster, today announced its support for the creation of a fund
established by Finalta Capital that is dedicated to providing strategic
support for research and development (R&D) projects undertaken by
innovative companies in Québec's aerospace industry.
Launched as part of Aéro Financement Day at the Aerospace Innovation
Forum 2013, organized in collaboration with Finance Montréal, the Fonds de financement des crédits d'impôt à la R-D pour le secteur
aérospatial (Fund for financing aerospace sector R&D tax credits) will make
available $15 million to reduce the financial pressure on the cash
flows of aerospace companies in the process of obtaining of R&D tax
"This fund, which can be described as visionary, will allow SME members
of Aéro Montréal to increase their level of innovation and focus their
energies on speeding up the commercialization of advanced
technologies," says Suzanne Benoît, President, Aéro Montréal.
"Innovation and R&D investments are critical to the competitiveness of
the aerospace industry worldwide . As such, the fund will provide a
significant competitive advantage for companies and ultimately help
them to join the supply chains of future aircraft platforms."
The Fund for financing aerospace sector R&D tax credits offers:
Pre-financing of R&D expenditures, meaning that loan disbursements are
accelerated to the first day of each quarter in anticipation of
Access to 50% more capital than with traditional sources of financing
based on the same tax credits.
A simplified approach means that the financial close is dramatically
fast-tracked to be completed in some 15 days.
"These funds will significantly increase the liquidity of SMEs who will
benefit from them while reducing their capital costs," notes
Maxime-Jean Gérin, President and CEO of Capital Finalta CII-ITC inc.
"Finalta Capital is proud to offer strategic support to innovative
companies across the entire value chain of the Québec aerospace
"This new strategic collaboration with the financial industry
demonstrates the economic importance of aerospace for Québec," says
Éric Lemieux, CEO, Finance Montréal. " By adapting financial products
to the needs of companies and market trends, we are helping local
entrepreneurs increase the success of their companies."
About Aéro Montréal - www.aeromontreal.ca
Aéro Montréal, Québec's aerospace cluster, is a strategic think tank
that groups all the major decision makers in Québec's aerospace sector,
including companies, educational and research institutions,
associations and unions.
Aéro Montréal's mission is to mobilize industry players around common
goals and concerted actions to increase the cohesion and optimize
competitiveness of Québec's aerospace cluster. It aims to foster the
growth and expansion of the cluster so as to ensure that it may
continue to create wealth for Montréal, Québec and Canada.
About Finalta Capital
FINALTA CAPITAL offers strategic support to innovative companies through
a simplified approach tailored to financing Scientific Research and
Experimental Development (SR&ED) tax credits, CDAE and multimedia title
Our clients benefit from three advantages:
Pre-financing of R&D expenditures before they are incurred
Financial close in 15 days
50% increased liquidity on the basis of the same tax credits
All of this at an institutional rate.
About Finance Montréal
Finance Montréal, Québec's financial cluster, was created in 2010 by
major players of the financial services industry at the invitation of
the Québec Government. Finance Montréal's mission is to continuously
expand Montréal's reputation on the world financial markets, promoting
the city as a strong and innovative industrial hub that contributes to
Québec's economic development. The organization helps strengthen
Québec's financial sector by generating growth in high value-added
financial activities strategic to its development. A non-profit
organization with 23 Governors, 12 Associate Members and close to 100
volunteer professionals, Finance Montréal fosters cooperation among a
vast range of financial sector companies to watch over the industry's
common interests while generating higher awareness of the financial
specializations found in Montréal. To learn more about Finance
Montréal, visit www.finance-montreal.com.
SOURCE: Aéro Montréal
For further information:
Director, Communications and Strategy
Phone: (514) 987-9334
Cell.: (514) 262-8417