An entrepreneurial support organization and three businesses in Québec City can continue to gain momentum
Government of Canada grants nearly $500,000 to Entrepreneuriat Laval, Brilliant Matters Organic Electronics, Bosk Bioproducts and Génidrone
QUÉBEC CITY, Dec. 19, 2017 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
In 2017, the Government of Canada made a commitment to stimulate innovation in order to increase the productivity and long-term competitiveness of Canadian enterprises. The goal of the Innovation and Skills Plan is to get meaningful results for Canadians and to help businesses prosper through technology. As a true economic driver, innovation is the key to success in that it generates growth that benefits businesses and communities.
A business creation and start-up support organization and three emerging enterprises can continue to gain momentum, explore new markets and harness new technologies thanks to financial support for projects that will generate total investments of more than $2.3 million in the area.
The contributions were announced today by Joël Lightbound, Member of Parliament for Louis-Hébert and Parliamentary Secretary to the Minister of Finance, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
Entrepreneuriat Laval Inc. (website in French only), a non-profit organization, received a non-repayable contribution of $270,000, while Génidrone Inc., Brilliant Matters Organic Electronics and Bosk Bioproducts have been awarded repayable contributions totalling $219,450. These projects will also generate seven permanent jobs in the area.
The funding awarded through CED's Quebec Economic Development Program (QEDP) will be used to implement commercialization strategies and carry out expansion projects.
Quotes
"I am proud to announce the Government of Canada's financial support for Entrepreneuriat Laval and three start-ups in Québec City which stand out because of their dynamism, boldness and innovation. The contributions will help them continue to develop and generate economic growth in the area."
Joël Lightbound, Member of Parliament for Louis-Hébert and Parliamentary Secretary to the Minister of Finance
"In line with our commitment to grow the Canadian economy, the Government of Canada's goal is to provide better support for businesses that want to prosper through innovation and the adoption of new technologies. The projects announced today are definitely contributing to that goal."
The Honourable Navdeep Bains, Minister responsible for CED
Quick facts
- CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
- For more information on CED's key directions until 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.
Related documents
For more information on the four projects, see the attached backgrounder.
Backgrounder
| Promoter |
Contribution – Investments – Project description |
| Entrepreneuriat Laval Inc. (website in French only) |
Non-repayable contribution of $270,000 out of a total investment of $1,480,000 The project consists in supporting the creation and start-up of businesses on the Université Laval campus, with a focus on science, engineering and clean tech sectors. The main expenses covered by CED's contribution include staff salaries to support customized business start-up services, operating costs, support for the validation of business projects and the coordination of entrepreneurial activities on the university campus. Since 1993, Entrepreneuriat Laval, a non-profit organization on the Université Laval campus, has been pursuing its mission of helping members of the university community develop their entrepreneurial skills to foster business start-ups. The organization provides businesses with such entrepreneurial services as assistance for pre-startup and pre-incubation, such as entrepreneurial diagnosis, business plan preparation, access to a network of experts and mentors, and specialized workshops. In 2015, Entrepreneuriat Laval was ranked No. 1 business accelerator in the world by UBI Global. |
| Repayable contribution of $100,000 out of a total investment of $400,000 The project consists in starting an enterprise to commercialize a unique biopolymer production process based on fermented residues from the pulp and paper industry and resulting in a biodegradable product for use in the plastics industry. The main project expenses include pre-commercialization, R&D equipment and materials, and administrative costs. CED's assistance will go toward commercial activities and R&D expenses that are not eligible under other government programs. Founded in November 2016, Bosk Bioproducts Inc. is a technology company that is implementing a technological platform for the production of its bioplastic in the Québec city area. |
|
| Repayable contribution of $50,000 out of a total investment of $210,000 The project involves the international commercialization of high-tech organic semi-conductors for the flexible electronics market. The main activities to be undertaken at the start-up phase include the development of new products and the implementation of a commercial strategy. CED's contribution will go toward the hiring of a sales and marketing resource and participation in trade fairs. Founded in February 2016, Brilliant Matters Organic Electronics Inc. is an innovative start-up that designs, manufactures and commercializes organic semi-conductors used in the production of flexible electronic products, such as organic light-emitting diode (OLED) displays for televisions, flexible photovoltaic cells and printed electronic circuits. |
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| Repayable contribution of $69,450 out of a total investment of $225,000 The project involves starting up a value-added service company that uses new technologies and consists in acquiring equipment to enhance its service offering, develop an innovative industry monitoring service and implement a commercialization strategy in the Canadian market. CED's contribution will go toward acquiring equipment (drones and specialized cameras), rolling out a marketing strategy (promotional materials, advertising placements, prospecting travel, participation in trade shows, etc.) and hiring a new resource. Established on February 11, 2016, Génidrone Inc. specializes in the acquisition, processing and analysis of aerial data to identify and quantify temporal changes in a landscape's physical and anthropogenic elements, such as shoreline erosion or warping in sections of a building façade. |
Summary
| Number of projects: |
4 |
| Number of jobs created: |
7 |
| CED contributions: |
$489,450 |
| Total investments generated by these projects: |
$2,315,000 |
Stay connected
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Follow Brilliant Matters Organic Electronics on LinkedIn
Follow Bosk Bioproducts on LinkedIn
Follow Génidrone on Facebook
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, [email protected]
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