Canada Economic Development

Canada Economic Development

November 30, 2011 10:00 ET

Government of Canada Lends Financial Support to Groupe Fitsystemes Inc.

TROIS-RIVIÈRES, QUEBEC--(Marketwire - Nov. 30, 2011) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that Groupe Fitsystèmes Inc. has been granted funding from the Government of Canada for the pre-commercialization of an innovative product.

"Supporting the creation of innovative businesses is a priority for the Government of Canada. This Groupe Fitsystèmes project merits our assistance because it will help diversify the regional economy and create local jobs," said Minister Lebel.

Groupe Fitsystèmes Inc. plans to manufacture a line of sports bag whose revolutionary design will allow damp content to dry within the bag itself. This innovation will save users time while helping to ensure that their sports equipment stays cleaner, is more sanitary and thus lasts longer.

The enterprise will use this funding from Canada Economic Development to patent the innovation, perfect its commercial prototype, develop a Web site and take part in trade fairs in the United States and Europe.

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This $20,000 repayable contribution has been granted through Canada Economic Development's Business and Regional Growth program, an initiative designed to strengthen the conditions conducive to the sustainable growth of Quebec's regions and small and medium-sized enterprises. The program's aim is to help businesses improve their performance, become more competitive and engage in innovation. It also supports the transfer of technology and research outputs to enterprises and the development of new markets.

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