Innovation at the heart of the recovery: The Honourable Mélanie Joly announces close to $850,000 in Government of Canada support for Montréal inc.

This will allow the Montreal organization to continue to provide start-up and financing support to innovative entrepreneurs.

MONTRÉAL, June 28, 2021 /CNW Telbec/ - Canada Economic Development for Quebec Regions  (CED)

The Greater Montréal region counts several dynamic businesses and organizations with innovative ideas helping to create a strong local economic fabric. During the COVID-19 pandemic, some organizations have succeeded in adapting and are prospering, while others have had to reduce their operations. Today, as we put in place our plan for a robust economic recovery, they need our support now more than ever. The Government of Canada has committed to assisting them as they pursue their activities and to fostering their growth and success, and this is exactly what it intends to do in the coming months.

With this in mind, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for CED, accompanied by Rachel Bendayan, Member of Parliament for Outremont and Parliamentary Secretary to the Minister of Small Business, Export Promotion and International Trade, today announced $845,107 in financial support to Montréal inc. (Fondation Montréal inc. de demain) to be provided over three years. Montréal inc. was founded in 1996 with the goal of bolstering the success of the most promising new and innovative Montréal businesses through bursaries, workshops, and meaningful business connections.

This non-refundable contribution will allow Montréal inc. to cover certain operating costs (support team's salaries, cost of updating and upgrading the portal for entrepreneurs), as well as salaries and fees for the first two years of its FoundHers (women's entrepreneurship) initiative, in addition to maintaining five positions.

The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in our communities. Innovation—a major driver of economic development in Canada—will help not only to rebuild a stronger, more resilient, and more just economy for all, but also to grow our economy in the coming decades.

Quotes

"Helping businesses grow and innovate so they can enhance their competitiveness and create good‑quality jobs is at the heart of our plan for a vigorous economic recovery. That is why we are providing our support to Montréal inc., an organization whose success is raising the profile not just of the Montréal region but of the entire Canadian economy. We have been here to assist workers and Quebec and Canadian SMEs in these difficult times, and we will continue to help them equip themselves with what they need so that, together, we can rebuild a stronger, more resilient and more sustainable economy."

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

"We are helping businesses equip themselves with what they need to remain competitive, prosper and create good jobs. Thanks to Government of Canada financial assistance, Montréal inc. will be able to remain a key resource for young Montréalers wishing to start a business, thereby helping to foster innovation in the city and stimulating the regional economy. This support will thus benefit the entire Greater Montréal region and enable the Canadian economy to come back even stronger."

Rachel Bendayan, Member of Parliament for Outremont and Parliamentary Secretary to the Minister of Small Business, Export Promotion and International Trade

"This major assistance will provide new support to our mission of supporting entrepreneurs—including women—in order to contribute to the economic recovery and build a prosperous metropolis. Canada Economic Development for Quebec Regions has been one of our allies from the start 25 years ago and we are delighted to be able to count on them for another three years."

Liette Lamonde, Executive Director, Montréal inc.

Quick facts

• Funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
• CED financing is conditional on the signing of the contribution agreement.
• A successful economic recovery will depend, among other things, on the vaccination of as many Canadians as possible. To learn more: Vaccines for COVID-19.
• CED is a 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.

Associated links

• Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience
• Canada's COVID-19 Economic Response Plan
• Coronavirus disease (COVID-19)

Stay connected

Follow CED on social media
Consult CED's news

SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Catherine Mounier-Desrochers Press Secretary, Office of the Minister of Economic Development and Official Languages, [email protected]