Government of Canada investing in innovation and jobs through NRC IRAP
MARKHAM, ON, Aug. 30, 2019 /CNW/ - The success of our economy and our ability to create well-paying middle-class jobs depend greatly on the capacity of Canadian businesses to innovate and take those innovations to market. The Government of Canada, through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), is delivering on its commitment to support the growth of Canadian businesses and create jobs by making significant investments in innovation.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion, celebrated the success of Multi-Health Systems Inc.— a local technology company competing in a global landscape— and announced a $1,872,337 investment to help MHS innovate and create close to 80 jobs.
The funding will support the development of Multi-Health Systems Inc. digital transformation projects, including a project to develop a platform for psychometric evaluation that is usable across multiple interfaces, and enable the company to grow to 250 employees.
Funding through NRC IRAP is a key component of the Innovation and Skills Plan and Budget 2018's commitment to business innovation.
Quotes
"This investment will help Multi-Health Systems innovate and create good middle-class jobs. IRAP's growing list of successful clients stands as proof that when we invest in Canadians, we all benefit. I'm proud to be part of a small business-friendly government that is committed to building a Canada where everyone—in Markham and across Canada—can thrive and succeed."
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
"NRC IRAP helps innovative small and medium-sized Canadian businesses succeed by offering investment and local customized support and advice. Our advisors understand technology and innovation and offer a unique blend of expertize, information and resources to help businesses further their innovation capabilities and grow the economy. The National Research Council of Canada Industrial Research Assistance Program succeeds when our clients succeed."
– Iain Stewart, President, National Research Council of Canada
"Through the last 36 years of growth, MHS has consistently innovated to shape the market in response to customer opportunities. This NRC IRAP funding provides support to our continued investment in Research & Development and aids us as we adopt Artificial Intelligence and advanced encryption while creating our industry's first multi-sided marketplace, joining a global customer base to MHS. This MHS developed solution will be the first digital marketplace that facilitates MHS and global peers to inter-operate with a common customer."
– Hazel Wheldon, CEO, Multi-Health Systems Inc.
“This is a significant investment in innovation. Markham is at the forefront of advancing technology in Canada, with an influx of companies and ambitious start-ups performing on a global scale. We are proud to welcome the team at Multi-Health Systems Inc., a leading developer of advanced solutions in the world of health care. I applaud the federal government for investing in Canadian businesses and supporting entrepreneurs by giving them the tools they need to grow and create jobs.”
– Frank Scarpitti, Mayor of the city of Markham
Quick facts
- Budget 2018 committed to investing $700 million over five years in the National Research Council of Canada Industrial Research Assistance Program and established a larger project funding threshold of up to $10 million.
- In 2018-19 the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) funded over 4,900 projects, 32 of which received funding for $1 million or more as part of NRC IRAP's funding threshold increase.
- Since 2015, the National Research Council of Canada Industrial Research Assistance Program has invested in more than 12,000 Canadian small and medium-sized businesses and created 54,000 jobs.
- For over 70 years, the National Research Council of Canada Industrial Research Assistance Program has been stimulating economic growth in Canada by providing funding and advisory services to small and medium-sized businesses so they can grow, build their innovation capacity and successfully take their ideas to market.
- The National Research Council of Canada Industrial Research Assistance Program supports all industry sectors across the country.
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SOURCE National Research Council Canada
Corinne Havard, Press Secretary, Office of the Minister of Small Business and Export Promotion, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]; Media Relations, National Research Council Canada, 613-991-1431, 1-855-282-1637, [email protected]
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