The Government of Canada awards $50,000 in funding to the Montréal startup
MONTRÉAL, Aug. 23, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Visceral Performance, an innovative business with strong growth potential, specializes in the production of high-performance sporting goods. To allow it to develop new markets, the company will receive a $50,000 repayable contribution from Canada Economic Development for Quebec Regions. The funding will allow the company to implement a U.S. and European marketing strategy for its Lethal brand hockey sticks and its T-LAB line of bicycles.
The funding was announced today by Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent. Specifically, the company will use the Government of Canada assistance to produce video ads to play on social media and websites; design communications items; and take part in trade shows.
Founded in 2015 and a winner of the Quebec Entrepreneurship Contest – OSEntreprendre, Visceral Performance Inc. is a startup company that specializes in the development, production and marketing of sporting goods that use advanced materials. Its flagship products include composite hockey sticks and high-end performance bicycles made of profiled titanium. Furthermore, the composite materials in the custom-made hockey sticks are recyclable, a global first in the field.
The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is 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 today to Visceral Performance is intended to provide concrete support for a company that has demonstrated its expertise and is also ready to expand into new markets. I am proud that we are supporting the growth of local businesses that showcase Canadian expertise on the world stage."
Emmanuella Lambropoulos, MP for Saint-Laurent
"Our government is giving Canadians the means to become more competitive and to thrive in the global economy. The funding announced today for Visceral Performance is in line with Canada's competitive advantages generated through the company'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
"Our company's mission is to produce advanced sporting goods right here in Montréal to meet the needs of demanding athletes around the world. CED's contribution is important because it helps us step up our efforts and, ultimately, have the means to realize our ambitions."
Roberto Rossi, CEO, Visceral Performance
- 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, [email protected]