Canada Economic Development

Canada Economic Development

November 04, 2011 08:00 ET

Government of Canada Lends Financial Support to TechnoMontreal

MONTRÉAL, QUEBEC--(Marketwire - Nov. 4, 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 TechnoMontréal has been granted $400,000 in non-repayable funding to pursue, over two years, its mission to strengthen the Information and Communications Technology (ICT) cluster of Greater Montréal.

"The Government of Canada believes in the importance of helping an organization like TechnoMontréal which is working with Greater Montréal's economic stakeholders to further the international reach of the ICT industry," said the Minister.

Incorporated as a non-profit organization in March 2007, TechnoMontréal brings together 5,000 of Greater Montréal's key ICT players which, combined, employ 120,000 people, making the ICT cluster the largest in the region.

Awarded through Canada Economic Development's Business and Regional Growth program, this financial assistance will enable TechnoMontréal to support ICT industry enterprises in their efforts to increase their innovation capacity and competitiveness. The achievement of these objectives will establish the Montréal region―and Quebec―as one of the best in the world. This funding will lead to spinoffs in terms of job creation as well as increased private and university research and development investment and personnel.

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