Government of Canada awards more than $830,000 in financial assistance to businesses and organizations in the greater Québec City area
QUÉBEC CITY, Feb. 22, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Businesses need to be able to rely on adequate resources to create and commercialize innovative products. In 2017, the Government of Canada adopted an ambitious plan to support innovation in all economic sectors, as well as business start-ups and expansion. Investing in improved productivity, new product development and business creation is pivotal to economic growth that benefits businesses and communities.
Thanks to financial support from CED, a centre for applied research in technology transfer, a development organization for emerging businesses and three innovative enterprises will deliver projects generating more than $2.5M in total investments. The contributions will also create 11 permanent jobs in the region.
The contributions totalling $831,930, of which $479,250 is repayable, were announced today by the Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Families, Children and Social Development, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
The recipients are the Centre en imagerie numérique et médias interactifs (CIMMI) [website in French only], the Corporation Inno-centre du Québec, Industries Chronox, LynX Inspection and Viagénie.
The funding awarded by the Government of Canada through CED's Quebec Economic Development Program will help these companies achieve their growth objectives.
"I am very pleased about this support from the Government of Canada, which has decided to build on the innovation capacity and commitment to progress of these organizations and businesses that are setting themselves apart in a constantly changing market. Their drive, boldness and innovative spirit are an inspiration to us all and are contributing to the region's economic vitality."
The Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Families, Children and Social Development
"By supporting investment in improved productivity, job creation and new products and markets, the Government of Canada is standing by its commitments to stimulate expansion, innovation and exports."
The Honourable Navdeep Bains, Minister responsible for CED
- 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.
- For more information on the five projects, please see the attached backgrounder.
Contribution – Investments – Project description
Non-repayable contribution of $250,000 out of a total investment of $665,000
The project consists in supporting the growth and innovation potential of about 10 innovative SMEs in the agglomeration of Québec City. The selected enterprises will benefit from 300 hours of specialty consulting services and are partly funded through this contribution.
For 30 years, Inno-centre has been providing world-class consulting services for emerging companies and innovative SMEs at various stages in their development and operating in key economic sectors, such as industrial technology, information technology and new media, aeronautics, advanced manufacturing, clean tech, medical devices and equipment and agri-food processing. Its team of more than 80 advisors consult with over 150 enterprises annually across Quebec from their Québec City and Montréal offices. Inno-centre works with a number of public and private partners to address the needs of businesses. It was recognized as one of the top-performing Canadian accelerators by a committee of venture capital specialists chosen by Finance Canada, as part of the Canada Accelerator and Incubator Program (CAIP) selection process.
Centre en imagerie numérique et médias interactifs (CIMMI) [website in French only]
Non-repayable contribution of $92,680 out of a total investment of $115,850
The project consists in improving CIMMI's capacity for technology transfer to businesses and organizations in various industry sectors using augmented and virtual reality. The funding will go toward the acquisition of 3D scanning and monitoring systems, simulation and rapid prototyping, 3D modelling and processing, which will eventually allow for the adoption of clean technology in the sectors CIMMI serves.
CIMMI is a non-profit organization and a member of the network of college centres for technology transfer (CCTT) associated with the CEGEP de Sainte-Foy. In business since 2010, it provides applied research services in augmented and virtual reality, medical imaging, 2D and 3D image processing and multimedia technologies for businesses in various sectors, including medical research centres. Some 30 very diverse projects are carried out every year, and the organization has received an OCTAS Award in recognition of its work on an augmented reality educational tool for teaching electromagnetism at the college level. The centre has 17 employees, 8 of whom are part time, and will create three jobs as part of this project.
Repayable contribution of $250,000 out of a total investment of $500,000
The project consists in improving the company's productivity and strengthening its innovation capacity through the purchase of state-of-the-art equipment. The contribution will go toward all of the activities, including the acquisition and installation of a digital control centre.
Incorporated in 2012, Industries Chronox Inc. is located in Saint-Augustin-de-Desmaures and specializes in the manufacture of complex stainless steel or aluminum parts and components, primarily for the pharmaceutical, medical and biotech industries. Chronox is integrated into value chains and exports to the United States, and its clients include prime contractors. The company has 12 employees and expects to create five more jobs by 2019.
Repayable contribution of $189 000 out of a total investment of $378,000
The project supports the development and commercialization of an application in the food sector. The contribution will go toward all the activities, including the recruitment of business development resources.
Established in 1996, Viagénie Inc. (VI), an information technology business, develops applications for its clients and designs Internet cloud and network infrastructure. The company has five employees and will create three jobs through this project.
Repayable contribution of $50,000 out of a total investment of $925,000
The project consists in developing an industrial inspection solution to automatically detect the metrology of machined or moulded parts and those made through additive manufacturing, as well as any flaws they may contain. The project involves making a prototype of the inspection system, with the project funding going toward some of the components.
Established in April 2016, LynX Inspection Inc. is a start-up technology SME whose mission is to develop, manufacture and commercialize industrial inspection solutions based on an innovative 3D X-ray method combined with machine vision. These solutions will help manufacturers inspect their high-precision parts in a matter of seconds and detect internal and external flaws, significantly reducing inspection costs while facilitating the transition to Industry 4.0.
- Follow CED on Twitter, LinkedIn, YouTube
- Follow Inno-centre du Québec on Twitter, LinkedIn
- Follow Industries Chronox on Twitter, LinkedIn, YouTube, Facebook
- Follow le CIMMI on LinkedIn, YouTube, Facebook, Viméo
- Follow LynX Inspection on LinkedIn
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, email@example.com