The Government of Canada awards $250,000 in funding to the Montréal sportswear company
MONTRÉAL, Aug. 6, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Indygena is an innovative company that makes high-end outdoor clothing. The business will receive a $250,000 repayable contribution from Canada Economic Development for Quebec Regions to develop new markets. The funding will allow Indygena to implement its U.S. marketing strategy.
The Honourable Mélanie Joly, Minister of Tourism, Official Languages and La Francophonie, and Member of Parliament for Ahuntsic-Cartierville, took advantage of her meeting with Jean-Pierre Ferrandez, CEO of Indygena, to announce the funding. Specifically, Indygena will use this Government of Canada assistance to design promotional material, develop a B2B transaction platform and hire staff to fill key positions associated with the implementation of the marketing strategy.
Indygena Inc. is an innovative, rapidly growing company with international visibility, which operates in the fashion sector, one of the most successful industries in Greater Montréal in terms of job creation. The goal of this SME, which makes its clothing in Montréal, is to create original products known for their quality and durability. Furthermore, it constantly seeks eco-friendly and ethical solutions to minimize its environmental footprint. The company also invests in design on an ongoing basis, and its R&D team works hard to improve its products so as to ensure that the company remains at the forefront of its industry and maintains its competitive edge in the face of foreign competition.
The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success because it generates growth that benefits both businesses and communities. That is why it is committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.
"The Government of Canada has implemented an ambitious approach to support businesses that invest in new market development. The financial assistance awarded to Indygena is intended to provide concrete support for a company that has demonstrated its know-how and is also ready to expand into new markets."
The Honourable Mélanie Joly, Minister of Tourism, Official Languages and La Francophonie
"Our government is giving Canadians the means to become more competitive and to thrive in the global economy. The funding announced today for Indygena is in line with Canada's competitive advantages generated through the organization's marketing initiatives, and will boost economic growth. It will also create good jobs for middle-class Canadians."
The Honourable Navdeep Bains, Minister responsible for CED
"The outdoor clothing industry is extremely competitive and we, as Canadians, have many assets that allow us to implement our ideas and ensure the company's success, both locally and in export markets. However, the road is long and full of obstacles. CED's support is a major asset that allows us to set more ambitious objectives and successfully achieve them. Personally, I see CED's support as an 'accelerator' for our export strategy—and it's working! We are very proud of the fact that exports accounted for 50% of our sales this year!"
Jean-Pierre Ferrandez, CEO, Indygena
- 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 other five regional development agencies.
- The funding was provided under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, and regional economic stakeholders who help create an entrepreneurial environment conducive to innovation and inclusive growth in all regions.
- To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, firstname.lastname@example.org