CED focuses on regional economic development through innovation by investing $16M over four years to ensure start‑ups succeed.
MONTRÉAL, March 20, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Business incubators and accelerators play a key role in the creation and development of young innovative businesses in Quebec. They support them at all stages of their development and act as levers for innovation to enable them to generate concrete economic impacts across Quebec.
That is why the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, is today announcing the launch of a call for proposals that will enable CED to support these organizations with up to $16M over the next four years (2024‑2028). This investment aligns with CED's regular programs.
CED aims to maximize the regional scope of its support for business incubators and accelerators by fostering concrete spin-offs in the regions, including through better accessibility to their services and improved capacity among innovative start-ups to meet local needs. CED will therefore proceed with a call for proposals targeting non-profit organizations (NPOs) whose primary mission it is to offer incubation and acceleration services to a clientele composed mainly of start‑ups and impact businesses. The organizations will have to demonstrate that they generate concrete impacts in Quebec's different regions.
CED is now accepting, up to May 8, 2024, applications under this call for proposals. Quebec's incubators and accelerators are invited to participate to receive funding under CED's regular programs starting on August 1, 2024, when this new approach will be implemented.
For information on the eligibility criteria or how to submit a proposal, consult the Applicant's Guide.
"Our government is proud to support emerging businesses, which are essential to economic development in Quebec's communities and regions. By boosting and mobilizing our incubators and accelerators to strengthen the innovation ecosystem in our different regions, we are giving ourselves the means to better meet the needs of innovative start-ups that will be the jewels of our economy in the years to come."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
- Quebec's ecosystem of business incubators and accelerators is quickly evolving: They keep increasing in numbers, and the services they offer are expanding to serve diverse clienteles.
- CED is supporting Quebec's business incubators and accelerators under its regular programs. To ensure this funding is provided equitably and coherently across all regions, a call for proposals will determine which organizations offering business incubation and acceleration services will receive assistance from CED starting in summer 2024.
- All applications submitted under this call for proposals must be received by 11:59 p.m. (EDT) on May 8, 2024.
- 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
Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Marie-Justine Torres, Press Secretary, Office of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions, Cell: 613-327-5918, [email protected]
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