Doric Lenses, Développement Solugen, Squeeze Studio Animation, Gentec Electro-Optics and Devoray will be able to step up their innovation and marketing activities

The Government of Canada awards a total of almost $1.2M in funding to five Québec businesses 

QUÉBEC, Dec. 18, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Doric Lenses Inc., Développement Solugen Inc., Squeeze Studio Animation Inc., Gentec Electro-Optics Inc. and Devoray will be able to pursue their growth with the help of a total of $1,175,000 in repayable contributions from Canada Economic Development for Quebec Regions. This financial assistance will allow the five businesses to diversify their markets by acquiring specialized equipment and carrying out marketing activities.

The funding was announced today by the Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Families, Children and Social Development. The funding granted by the Government of Canada under CED's Quebec Economic Development Program will allow the recipient businesses to achieve their established objectives. Their respective projects will generate total spending of over $2.8M and will lead to the creation of 14 jobs in Québec.

The Government of Canada is committed to establishing close partnerships with Quebec businesses to support their efforts to innovate and increase their productivity and competitiveness so that they can contribute to the economic vitality of the regions, the creation of good-quality jobs and the improvement of citizens' quality of life.

Quotes

"By helping businesses invest in equipment and devices that will enhance their performance, and by promoting product marketing and market development projects, the Government of Canada is meeting its commitment to foster expansion, innovation and exports. I am also delighted to know that these projects will help create 14 high-quality jobs right here in Québec."

The Honourable Jean-Yves Duclos, MP for Québec and Minister of Families, Children and Social Development

"The Government of Canada is standing by its commitments and is helping businesses that pursue innovation to expand and export their products and services so they can create good-quality jobs, thus ensuring the prosperity of the Canadian economy."

The Honourable Navdeep Bains, Minister responsible for CED

Quick facts

Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the five other regional development agencies.

To find out more about CED and its priorities, see the 2018–2019 Departmental Plan or visit www.dec-ced.gc.ca

This year marks the 50th anniversary of federal regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses.

Related product

Doric Lenses Inc., Développement Solugen Inc., Squeeze Studio Animation Inc., Gentec Electro-Optics Inc. and Devoray will be able to pursue their growth with the help of a total of $1,175,000 in repayable contributions from Canada Economic Development for Quebec Regions. Their respective projects will generate total investments of over $2.8M and lead to the creation of 14 jobs in Québec.

The funding was announced today by the Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Families, Children and Social Development, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.  

The funding is granted under the Quebec Economic Development Program.

Proponent	Contribution – Investment – Description of the project
Doric Lenses Inc.	Repayable contribution of $550,000 out of a total investment of $1,500,000 Founded in 1995 by Dr. Sead Doric (former researcher at the National Optics Institute [INO] in Québec), Doric Lenses is a world-class, highly innovative SME that designs, manufactures and markets specialized optical components and provides fiber-optic R&D services. Doric Lenses is also a global leader in the manufacturing and development of neuroscience equipment. The goal of the project, which will create four jobs, is to expand the business internationally. The strategy is two-fold and involves improving its productivity and production capacity, and marketing new products. CED's contribution will go toward all project activities, including the purchase of machinery used to manufacture specialized optical components.
Développement Solugen Inc.  (website in French only)	Repayable contribution of $250,000 out of a total investment of $1,150,000  Established in 2015, Développement Solugen is an innovative start-up specializing in the design, manufacturing and marketing of liquid hog manure processing systems.   The purpose of the project, which will create four jobs, is to complete marketing activities and improve the business's innovation capacity.   CED's contribution will go toward the cost of manufacturing, installing and operating a first production unit that will serve as a technological showcase for the development and marketing of the product, and the protection of all developed intellectual property.
Squeeze Studio Animation Inc.	Repayable contribution of $200,000 out of a total investment of $650,000 Founded in 2011 by Denis Doré and Patrick Beaulieu, Squeeze is a world-renowned 3D animation studio boasting a team of talented and passionate creators who develop larger‑than-life characters through the magic of 3D animation. Owing to its outstanding production quality, the business works with some of the most prestigious local and international partners and stands out by designing original creations that leave their mark. For example, the television series Cracké is aired by major television broadcasters in 210 countries and territories and has garnered more than 200 million views on digital platforms worldwide.   The project aims to improve the productivity of the business, which specializes in high‑quality 3D animation. Key project activities include enhancing the production platform's performance and carrying out leasehold improvement work. CED's contribution will go toward the purchase of software and equipment and support the hiring of a technology director. The project will create five jobs.
Gentec Electro-Optics Inc.	Repayable contribution of $100,000 out of a total investment of $270,000 Founded in 2000, Gentec Electro-Optics (Gentec-EO) is a highly innovative exporting SME that designs, manufactures and markets laser measurement products. It is the only Canadian business operating in the niche laser energy, laser power and laser beam intensity profile measurement products market. The goal of the project is to support the business's exports and marketing capacity by updating and integrating a product selection application into its website. CED's contribution will cover all project costs. In addition to maintaining one short-term job, the project will help the business increase its exports, resulting in the creation of many new jobs.
Devoray 9328-8082 Québec Inc.	Repayable contribution of $75,000 out of a total investment of $335,000 Founded in 2015, Devoray is an innovative business that designs, manufactures and markets 3D-printed food products. 3D printing technology is best known for its use in the plastic and metal industries, but its use is also growing in the food sector. The purpose of the project, which will create one job, is to increase the start-up's marketing efforts and productivity. CED's contribution will cover all project costs, namely, the completion of marketing activities, including the hiring of one resource, and the purchase, adaptation and installation of specialized equipment to optimize Devoray's production.

Summary
Number of projects:	5
Number of jobs created:	14
CED's contributions:	$1,175,000
Total investments generated by these projects:	$2,805,000

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SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Regions, Tel.: [phone], Email: [email protected]