Thanks to a total of $400,000 in financial assistance from CED, the Drummondville SMEs will acquire new equipment and develop marketing and market expansion strategies.
DRUMMONDVILLE, QC, Feb. 2, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
SMEs have a key role to play in ensuring Quebec's economy makes the environmental transition. They seek to innovate and grow by becoming more competitive in a greener world. That is why the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, today announced CED support for OLA Bamboo and Secure Exchanges.
OLA Bamboo, which specializes primarily in the manufacture of personal hygiene products made of bamboo and recycled wood, including toothbrushes, cotton swabs, and reusable make‑up removal pads, is receiving a repayable contribution of $150,000 from CED. This support will enable the business to pursue its growth and remain competitive by acquiring and installing production equipment. This equipment includes, among other things, a laser, a dust collector, a saw, and a wood cutter with a view to automating the business's facilities to thereby develop a marketing and market expansion strategy and increase its production capacity. CED's assistance also covers a portion of the cost of implementing the marketing strategy in major Canadian cities such as Vancouver, Calgary and Toronto.
For its part, Secure Exchanges, which works on secure data transfer solutions integrated directly into Microsoft Outlook, Gmail, or its online platform, is receiving a repayable contribution of $250,000. This financial assistance will enable this innovative SME specializing in cybersecurity to develop a marketing and market expansion strategy to boost its growth. Among other things, Secure Exchanges will be able to create online content and advertising, add a certification, and hire specialized resources.
A sustainable, just, and more inclusive economic recovery relies, among other things, on businesses making the green transition and the adoption of digital and cybersecurity technology solutions. The Government of Canada supports SMEs by fostering sustainable development across all of Quebec's regions, in addition to ensuring their future through cybersecurity. Adapted programs and services are available to accelerate the implementation of innovative projects, the adoption of clean technologies, and the development of greener products. In this way, CED is providing concrete assistance for Quebec's businesses, entrepreneurs, and workers to better position themselves and seize the opportunities arising out of an economy in transition.
"Manufacturing businesses play a key role in Quebec's economy and in the green transition. That is why our government is committed to supporting them so they can remain competitive and innovative, and also equip themselves with what they need to carve a place out for themselves in tomorrow's economy. Hence CED is assisting OLA Bamboo and Secure Exchanges, for whom preserving the environment is just as important as ensuring their growth in complete security."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
"Thanks to the Government of Canada's financial support, OLA Bamboo is proud to continue as a pioneer in the industry and the uncontested leader in toothbrushes in the country. We are delighted to announce the expansion of our production lines, with a particular focus on ecological innovation. Our latest achievement—a toothbrush that is one of a kind around the world, made entirely of Canadian maple from the circular economy—reflects our commitment to sustainability and excellence. We are grateful for this productive collaboration that is helping to build a greener future for all."
Simon-Pier Ouellet, Vice-President and Co-founder, OLA Bamboo
"At Secure Exchanges, our vision is to redefine communications security around the world. As experts in end‑to‑end encoded exchanges, for both emails and PDF document signatures, we are proud to receive CED's support. Thanks to this financial assistance, we are able to accelerate our marketing strategy and expand our presence on international markets, thereby representing Canadian cybersecurity excellence. This opportunity reinforces our commitment to provide frontline security solutions, while also showcasing Canadian innovation in this strategic sector."
Cédric Boivin, President, Secure Exchanges
- According to a 2022 survey by Canadian Manufacturers & Exporters, 90% of Canadian manufacturing SMEs have not begun their transition to net‑zero emissions. Yet, SMEs generate approximately 30% of Canada's total GHG emissions.
- 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.
- The funding announced today has been granted under the Jobs and Growth Fund (JGF) program. This program targets businesses and economic organizations to help them prepare local economies for long‑term growth. It involves strategic investments in projects aimed at reducing Canada's environmental impact and fostering a green, resilient economy.
- OLA Bamboo
- Secure Exchanges
- CED funding initiatives and programs
- 2022 Canadian Manufacturers & Exporters survey
- Canada's 2030 Emissions Reduction Plan
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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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