Close to $700,000 for five highly innovative businesses in Estrie

The funding will be used for start-up and commercialization activities of technology SMEs

SHERBROOKE, QC, April 19, 2017 /CNW/ - Canada Economic Development for Quebec Regions (CED)

Innovation is a true economic driver that helps our businesses grow, thus creating high paying jobs that benefit communities and the middle class. Businesses need to be able to rely on adequate resources to design and manufacture innovative products and commercialize them in Canada and abroad. That is why the Government of Canada is committed to supporting innovative Canadian enterprises.

The Honourable Diane Lebouthillier, Minister of National Revenue, and the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, jointly announced that $675,000 in financial support, in the form of repayable contributions, has been granted to five businesses in the region.

SPI BIO Inc. ($175,000), Imeka Solutions Inc. ($150,000), Agendrix ($150,000), LUMED Inc. ($100,000) and Immune Biosolutions Inc. ($100,000) will now be able to accelerate their development, notably by intensifying their commercialization activities in Canada and abroad.

The region has the good fortune of having an incubator—ACET (Accélérateur de création d'entreprises technologiques)—supporting new entrepreneurs and fostering the start-up of innovative SMEs. These five businesses were able to count on support from ACET, which received nearly $600,000 in financial support from CED. ACET is housed in the building of Université de Sherbrooke's Interdisciplinary Institute for Technological Innovation – 3IT, whose mission is to offer all of the components of a complete innovation chain under one roof. 3IT was recently granted nearly $3,000,000 in financial assistance to help Quebec SMEs accelerate the development of their innovative products and processes.

CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.

Quotes

"The Government of Canada is committed to promoting the role of innovation as an important way of encouraging business diversification and growth. That is why we are pleased to support the start-up of five highly innovative SMEs in Estrie."

The Honourable Diane Lebouthilier, Minister of National Revenue

"These five young businesses illustrate Sherbrooke's entrepreneurial vigour, whether in IT, life sciences or clean tech. I am delighted about the Government of Canada's support, which underscores the importance of innovation for the region's economy and for the entire country."

The Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie

"The Government of Canada is committed to supporting Canadian businesses that are focused on innovation. Our goal in supporting these five enterprises is to work with one another to deliver on our commitments and get results for Canadians."

The Honourable Navdeep Bains, Minister responsible for CED

Related products
For more information on the five projects, please consult the attached backgrounder.
To learn more about CED's support for 3IT: 3IT news release

Stay connected
Follow CED on Twitter @CanEconDev 

 

BACKGROUNDER

Close to $700,000 for start-up and commercialization activities of five highly innovative businesses in Estrie

Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, the Honourable Diane Lebouthillier, Minister of National Revenue, and the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie, jointly announced that $675,000 in financial support, in the form of repayable contributions, has been granted to five businesses in the region.

The funding is being granted under the Quebec Economic Development Program (QEDP).

 

Promoter

Contribution – Investments – Project description

SPI BIO Inc.

Repayable contribution of $175,000 out of a total investment of $1,285,000

 

Founded in 2014 by two young entrepreneurs, this innovative enterprise is developing, manufacturing and commercializing an on-site biosensing technology (Bio-Alerte) initially for the detection of Legionella. The system, which reads the levels of bacterial concentration on site and in real time, was designed to reduce contamination risks in cooling towers.

The project targets the start-up of commercial operations and consists in completing the design of the product, getting it registered and patented, acquiring equipment and software and launching the commercialization strategy.

 

CED's support will go toward part of the production equipment costs (injection mould, a freeze dryer, tooling, etc.) and commercialization costs.

 

The project is expected to create five jobs.

 

Imeka Solutions Inc.

 

Repayable contribution of $150,000 out of a total investment of $730,000

 

Founded in 2011, Imeka develops and markets a technique for diffusion magnetic resonance imaging of the brain. With its software, Imeka extracts additional information than that available through existing imaging technologies to document medical studies and preclinical and clinical research for the development of therapies and drugs used in treating neurodegenerative diseases (e.g. Alzheimer's).

 

The goal of the project is to begin operating an innovative business by developing a marketing strategy targeting the pharmaceutical and biotechnology sectors in Canada and abroad, notably in the United States, Europe and Japan.

 

CED's contribution will go toward a number of commercialization activities, including participation in trade shows and conferences, prospecting visits, promotional materials and the website.

 

The business has seven employees, six of whom are specialized in the sciences.

 

Agendrix (9312-6118
Québec Inc.) [website
in French only]

Repayable contribution of $150,000 out of a total investment of $551,230 

 

Created in 2015, Agendrix  is developing and commercializing an innovative Web-based mobile platform to simplify the planning and communication of work schedules and to manage the distribution of staff movement on the work premises, clocking in or out and employee time sheets.

 

The project is aimed at the commercial start-up of an innovative business abroad by marketing the Web-based mobile platform, notably in Western Europe and the United States.

 

CED's contribution will go toward various commercialization activities, including part of the Web advertising and marketing costs and costs related to patents and trademarks.

 

The business has eight employees, four of whom are computer specialists.

 

LUMED Inc.

Repayable contribution of $100,000 out of a total investment of $800,000

 

Founded in 2012, LUMED develops and markets IT solutions for the life sciences, including its first platform, APSS (antibiotic prescription surveillance system), which optimizes the management of antibiotics prescription. This solution monitors the clinical status of patients, making it possible to adjust prescriptions in real time.

 

The project aim is to continue the development and commercialization of LUMED's products in Canada and the United States.

 

CED is providing assistance for commercialization activities, including the salaries of representatives, promotional materials and travel costs.

 

The SME has seven employees.

 

Immune Biosolutions Inc.

Repayable contribution of $100,000 out of a total investment of $300,000

 

Founded in 2012, Immune Biosolutions develops, manufactures and commercializes innovative egg-based antibodies used by its clients as research tools or to design diagnostic biomedical tests, but mostly, this SME stands out because of the molecules it has developed for therapeutic purposes. Immune Biosolutions quickly produces a variety of top quality antibodies through an innovative process for extracting and purifying antibodies from eggs.

 

The purpose of the project is the commercial start-up of an innovative business. It consists in implementing a commercialization plan targeting the pharmaceutical and biotechnology markets in Canada and abroad, notably in the United States, Europe and Japan.

 

CED's contribution will go toward numerous commercialization activities: trade shows and conferences, advertising, website, business strategy development fees and the acquisition of market research.

 

The business has 12 employees, and the project is expected to create three jobs by 2020.

 

 

Summary

Total number of projects: 

5

CED contributions:

$675,000

Investments generated by the projects:

$3,666,230

 

SOURCE Canada Economic Development for Quebec Regions

For further information: Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-8818, Email: dec.media.ced@canada.ca


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890