The Government of Canada awards $500,000 in funding to the Sherbrooke company
SHERBROOKE, QC, May 21, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
A pioneer in research and development, Laboratoire M2 (LM2) has built a solid reputation for manufacturing innovative green products in the fields of disinfection and bio-safety for the human and animal health, agriculture and agri-food industries.
To help it maintain its momentum, the Sherbrooke company has been awarded a $500,000 repayable contribution from Canada Economic Development for Quebec Regions. This financial assistance will allow the company to go ahead with its certification process and the marketing, in Canada and the U.S, of its new eco-friendly non-polluting, non-toxic and biodegradable veterinary-use product for cows and cattle.
The funding was announced today by the Honourable Marie-Claude Bibeau, Member of Parliament for Compton–Stanstead and Minister of Agriculture and Agri-Food. Specifically, this Government of Canada assistance will allow LM2 to cover the fees and costs associated with the certification and marketing of its new product. The project will require an investment of over $1.6 million and will create four jobs.
Founded in 2003, the mission of Laboratoire M2 is to come up with alternative solutions to replace previous disinfection technologies. A leader in bio-safety risk prevention, LM2 is known for its innovative culture and its specialized expertise in disinfection and bio-safety, and for its contribution to the greatest breakthroughs in the field.
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. This is why we are committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.
"By supporting Laboratoire M2, a Canadian leader in environmentally responsible bio-safety fields, our government is demonstrating its commitment to innovative entrepreneurs. This funding will allow the Sherbrooke company to continue marketing its new environmentally friendly health product in Canada and the U.S. Progress must take into account the importance of protecting our environment, particularly in the designing of our products, and Laboratoire M2 is doing an excellent job in this respect."
The Honourable Marie-Claude Bibeau, MP for Compton-Stanstead and Minister of Agriculture and Agri-Food
"Our government is giving Canadians the means to become more competitive and to thrive in the global economy. The funding announced today for Laboratoire M2 is in line with Canada's competitive advantages and reflects our desire to support innovative projects that go hand-in-hand with economic growth and sustainable development."
The Honourable Navdeep Bains, Minister responsible for CED
"Laboratoire M2 intends to remain a leader in the development of disinfection and bio-health products for humans and animals, and to achieve a new milestone in its development. We are pleased to have the support of CED, which will give us additional impetus in the pursuit of our objectives."
Serge Auray, President and founder of Laboratoire M2
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.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: firstname.lastname@example.org