Canada Economic Development

Canada Economic Development

November 22, 2010 11:30 ET

CogniVue Receives $424,000 in Government of Canada Assistance to Stimulate its Growth

GATINEAU, QUEBEC--(Marketwire - Nov. 22, 2010) - Acting on behalf of the Honourable Denis Lebel, Minister of State for Canada Economic Development, the Honourable Lawrence Cannon, Minister of Foreign Affairs and Member of Parliament for Pontiac, today announced the awarding of $424,000 in repayable funding to the firm CogniVue through the Business and Regional Growth program.

This Gatineau enterprise specializes in the design and development of value-added products like programmable image cognition processors for mobile devices, consumer electronics and smart cameras.

"The Government of Canada is investing considerable energy in helping small and medium-sized enterprises improve their innovative capabilities and expand into foreign markets," stated Minister Cannon.

This assistance will enable CogniVue to commercialize its products, which have been developed using patented technology, in Europe, Russia, North America and the Asia-Pacific region. Breaking into these new markets will allow the company to maintain its six existing jobs while creating two new positions in the medium range.

"CogniVue is one of our innovative enterprises that knows how to capitalize on the results of its research and development in order to develop and market value-added products," the Minister added.

The company's commercialization strategy will include, among other things, taking part in trade fairs, holding targeted meetings with prospective clients and producing promotional materials. 

High technology is a promising growth sector for the Outaouais region, as are agri-food processing, tourism and the transformation of wood into value-added products. By concentrating its development efforts in these sectors, Canada Economic Development is helping to support the region's economy. 

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