Government of Canada awards more than $1.6 million to Ananda Devices, Colorbeam NorthAmerica Inc., ERA Group, Identification Multi Solutions and Outils Diacarb
MONTRÉAL, Sept. 12, 2017 /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. The Government of Canada is committed to supporting innovative Canadian businesses. As a true economic driver, innovation is the key to success because it generates growth that benefits enterprises and communities.
Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, announced that Ananda Devices, Colorbeam NorthAmerica Inc., Diacarb Machining (Outils Diacarb), ERA Group Inc. and Identification Multi Solutions Inc. (IMS) [website in French only] have been granted $1,652,600 in financial assistance, in the form of repayable contributions.
The funding awarded under CED's Quebec Economic Development Program (QEDP) will help the recipient businesses increase their production capacity and productivity or commercialize their products on other markets. The projects will also create 14 high-quality jobs for Canadians in the middle class.
Quotes
"I am proud of the Government of Canada's support for five Saint-Laurent businesses that stand out because they are dynamic, bold and innovative. The contributions will help them continue to develop and generate economic growth and high-quality jobs."
Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent
"By helping businesses invest in equipment and machinery that will make them more productive and by encouraging product commercialization and market development projects, the Government of Canada is standing by its commitment to stimulate expansion, innovation and exports. I am also very pleased to know that these projects will help create 14 high-quality jobs in the borough of Saint-Laurent."
The Honourable Navdeep Bains, Minister responsible for CED
Quick facts
- CED is one of 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.
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Backgrounder
Businesses need to be able to rely on adequate resources to create and commercialize innovative products. The Government of Canada is committed to supporting innovative Canadian businesses. As a true economic driver, innovation is the key to success because it generates growth that benefits enterprises and communities.
Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, announced that Ananda Devices, ERA Group, Colorbeam NorthAmerica Inc., Identification Multi Solutions and Diacarb Machining (Outils Diacarb) have been granted a total of $1,652,600 in financial assistance, in the form of repayable contributions.
The funding has been awarded under CED's Quebec Economic Development Program (QEDP).
| Enterprise |
Contribution – Investments – Project description |
| Repayable contribution of $500,000 out of a total investment of $1,850,000
The project consists in increasing the business's production capacity and productivity through the acquisition of specialized digital equipment for printing shrink sleeve labels. CED's contribution will go towards all project costs.
Founded in 1958, Identification Multi Solutions Inc. (IMS) is an SME that has always operated in the printing industry. With the technological changes in the 1980s, it specialized in the production of self-adhesive labels, switching in the mid-2000s to shrink sleeve labelling solutions. |
|
| Repayable contribution of $400,000 out of a total investment of $2,537,025
The project consists in increasing the SME's productivity and production capacity through the acquisition of new production equipment. CED's contribution will go towards the purchase of feeder, injection, inspection, counting and filler systems and the related installation costs, as well as the purchase of moulds.
Founded in 1976, ERA Group Inc. (ERA) is an SME that specializes in the design and moulding of plastic and recycled plastic products. ERA is one of North America's leading manufacturers of kitchenware, housewares, winter toys and snow shovels in North America. |
|
| (Outils Diacarb) |
Repayable contribution of $400,000 out of a total investment of $1,450,000
The project consists in increasing the company's productivity and production capacity through the acquisition of new production equipment. CED's contribution will go towards the purchase of a lathe and CNC machining centre.
Founded in 1980, Diacarb Machining is an SME that specializes in the machining and mass production of small, precise, elaborate parts. The business is well known in many business sectors, including optics, photonics, telecommunications, robotics, life sciences, aerospace, transportation and defence. |
| Repayable contribution of $241,000 out of a total investment of $512,844
The project consists in increasing the domestic and international sales of this biopharmaceutical technology start-up company, which provides innovative products for laboratories. CED's contribution will go towards all project costs.
Founded in 2015, Ananda Devices is bringing drug development to the 21st century. Ananda provides silicone microdevices that help scientists increase cell culture standardization, experimental reproducibility and the reliability of results. Ananda helps scientists achieve significant high-quality results up to 50% faster in neuroscience, cancer, immunology and stem cell research. |
|
| Repayable contribution of $111,600 out of a total investment of $371,000
The project consists in implementing a commercialization strategy on the U.S. market for LED lighting systems manufactured by Colorbeam NorthAmerica Inc. CED's contribution will help the business hire an export specialist, participate in trade shows, make prospecting visits and tweak its website and promotional tools.
Founded in 2007, Colorbeam NorthAmerica specializes in the manufacture and distribution of high-end, innovative, low-voltage indoor LED lighting solutions. The business has recently completed a line of LED products that include a controller and lighting management module. |
| Summary |
|
| Number of projects: |
5 |
| Number of jobs created: |
14 |
| CED contributions: |
$1,652,600 |
| Total investments generated by these projects: |
$6,720,869 |
SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email:[email protected]
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