Government of Canada Lends Support to Three Innovative Businesses in the Quebec Region

QUEBEC CITY, QUEBEC--(Marketwired - Jan. 15, 2015) - Canada Economic Development for Quebec Regions (CED)

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced that three enterprises from the Québec City region have been granted financial assistance for commercialization activities, new product development and productivity enhancement.

This assistance has been awarded in the form of three repayable contributions totalling $625,000 through CED's Quebec Economic Development Program.

Quick facts

• The recipients of this financial support from the Government of Canada are Lumca Inc., Rocand and Dectronique (1984) Inc.
• The projects these SMEs are undertaking as part of their commercialization and innovation strategies are expected to lead to gains in productivity and contribute to export growth, the creation of more than 30 new jobs and an increase in sales.
• Lumca is a standard bearer in the field of exterior lighting, Rocand is a world-class leader in high-tech moulding and Dectronique is one of the largest manufacturers of electrolysis equipment.

Quote

"Our government is committed to strengthening the competitiveness of the Canadian economy in order to sustain and stimulate growth and jobs. In keeping to that commitment, it is helping export firms like Lumca Inc., Rocand and Dectronique (1984) Inc. further their development."

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

Related document

See the accompanying backgrounder for further details on these three projects.

Related link

To learn more about the QEDP:

http://www.dec-ced.gc.ca/eng/programs/qedp/index.html

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BACKGROUNDER

Government of Canada lends support to three innovative businesses in the Québec region

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced that three enterprises from the Québec City region have been granted financial assistance for commercialization activities, new product development and productivity enhancement.

Promoter	Contribution - Investment - Project description
Lumca Inc.	Repayable contribution of $250,000 on a total investment of $1,000,000 Lumca Inc. specializes in the design, manufacture and sale of exterior lighting products. The firm possesses one-of-a-kind know-how developed through experience and exclusive technology derived from extensive research and development activities. Since 2005, Lumca has been developing families of innovative and customized lighting products whose interchangeable parts can be mixed and matched, thereby creating significant economies of scale. The company's commercialization strategy is aimed at bolstering sales on both the Canadian and United States markets. Lumca, which already has a team of sales representatives in place in the United States, is hoping to further develop this market through various commercialization activities. In parallel, it intends to launch a series of new market-ready products and give new impetus to its R&D activities. With this project, the enterprise expects to expand its international client base and create 15 new jobs within the next two years.
Rocand Inc.	Repayable contribution of $240,000 on a total investment of $800,000 Rocand is a world-class specialist in injection and blow moulding and an international leader in the manufacture of fuel tanks moulds for the automotive industry. Through the use of leading-edge technology, the enterprise has developed new products with potential applications in the ground transportation, aeronautics and biomedical sectors. The majority of its sales are for export to the United States, Mexico and various European countries. Rocand is undertaking an internal operating process optimization project that will involve the acquisition of new quality control equipment and high-performance IT tools as well as the implementation of an integrated management system. This project is expected to result not only in higher productivity and increased competitiveness for the firm, but also in the creation of some 10 new jobs between now and 2016.
Dectronique Inc.	Repayable contribution of $135,000 on a total investment of $400,000 With its products distributed in some 30 countries, Dectronique is one of the world's leading manufacturers of electrolysis devices. To adjust to the needs of the market, the company has diversified its product range to include a wide variety of specialty devices that meet the strictest requirements of beauty professionals. Dectronique is now seeking to adapt its unique technology to a new sector, that of ultra-specialized medical care, to satisfy the demand from American and European clients. Its project is aimed at commercializing innovative new products specifically designed for aesthetic medicine on the North American and European markets. This project, which will help the enterprise develop new markets and improve its productivity, is expected to lead to the creation of eight new jobs by 2017.

Summary

Total number of projects: 3

Total contribution from CED: $625,000

Total investment generated by these projects: $2,200,000