Government of Canada awards over $350,000 in financial assistance to Laboratoire PhytoChemia in Saguenay
SAGUENAY, QC, April 30, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Businesses need to be able to rely on adequate resources to launch and deliver innovative projects. The Government of Canada is determined to support innovative Canadian businesses. As a true economic driver, innovation is key to the success of the Canadian economy in that it generates growth that benefits businesses and communities.
Laboratoire PhytoChemia (PhytoChemia), one of the few Canadian enterprises that specialize in the analysis of plant-based products, can rely on $352,100 in financial support from the Government of Canada to increase its productivity and expand. More specifically, the business is currently implementing a centre that specializes in chemical, biological, analytical and scientific services, from the control of bacterial contaminants to the monitoring of pesticides and heavy metals. The project is helping create four well-paying jobs in the Saguenay–Lac-Saint-Jean region.
Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, the Honourable Diane Lebouthillier, Minister of National Revenue, announced the funding today at the inauguration of the SME's new laboratory. The funding has been granted in the form of a repayable contribution through CED's Quebec Economic Development Program.
PhytoChemia is a plant chemistry SME that has been growing at a dramatic rate since its creation in 2014. Its service line has three components:
- Laboratory analysis of plant-based products, including essential oils, to ensure their quality;
- Consulting services tailored to client needs, including the development of business ideas in the natural product field, referrals to other professionals and scientific advice on manufacturing processes;
- Literature reviews on the state of knowledge and work on one or more plants and their chemistry.
PhytoChemia is also licensed by Health Canada for medicinal cannabis analysis and quality control, providing access to a potential market of around 100 producers authorized by Health Canada.
"I am very pleased about the Government of Canada's support for this enterprise led by young innovators who are sparing no effort in carrying out major projects to ensure the company's growth at the national and international levels. PhytoChemia is a great regional success story that is contributing to the economic vitality of the Saguenay–Lac-Saint-Jean region in Quebec and to the Canadian economy overall."
The Honourable Diane Lebouthillier, Minister of National Revenue
"To improve the quality and impact of our innovation support programs, it is essential that the Government of Canada support scientific research and entrepreneurship. As the Minister of Innovation, Science and Economic Development, I am proud to contribute to the growth of a business like Laboratoire PhytoChemia, whose project will create four new skilled, well-paying jobs in Saguenay–Lac-Saint-Jean."
The Honourable Navdeep Bains, Minister responsible for CED
We are very pleased to continue to develop our company and proud of our highly specialized, world-renowned expertise here, in the Saguenay–Lac-Saint-Jean region. Thanks to the support from all of our partners, including Canada Economic Development, we can now penetrate new market segments such as the monitoring of pesticide use in agriculture, microbiology and even crop plant genetics. Now that we have 12 employees, we are ready to diversify and grow domestically and internationally."
Alexis St-Gelais, Science Director, Laboratoire PhytoChemia
- This young enterprise was created by graduates from the Université du Québec à Chicoutimi in 2013. More than three quarters of the company's revenue comes from business in the United States.
- PhytoChemia has won many awards: Urbania magazine hailed the corporation as one of 50 outstanding Quebec companies; it won a national award in the "Young Entrepreneurs" category in the 2016 Prix Desjardins Entrepreneurs; and it took second place in the "Service to Businesses" category in the 2014 Quebec Entrepreneurship Contest.
- 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.
- Budget 2018 proposes to provide an additional $511 million in funding over five years on a cash basis, starting in 2018–2019, for the regional development agencies to support the Innovation and Skills Plan across all regions of Canada.
- Of the $511 million, $99 million will be allocated to CED, of which $22 million will go toward supporting the new Women Entrepreneurship Strategy.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: [email protected]