Canada Economic Development

Canada Economic Development

October 28, 2011 11:30 ET

Government of Canada Renews Support to Ag-Bio Centre

LÉVIS, QUEBEC--(Marketwire - Oct. 28, 2011) - Acting on behalf of the Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, the Honourable Steven Blaney, Minister of Veterans Affairs, announces that the organization Ag-Bio Centre has been awarded $200,000 in non-repayable funding to continue supporting innovative pre-startups and startups in various life science sectors.

"The financial support we are granting today to Ag-Bio Centre will help encourage the development of business projects in Lévis that have the potential to create jobs and wealth in the city as well as elsewhere in Quebec," said Minister Blaney.

Based in Lévis, Ag-Bio Centre assists enterprises through the crucial stages of their development, from pre-startup to startup and growth. The personalized guidance services the organization offers are aimed more specifically at entrepreneurs opting for applied biotechnology in the agri-food, health, nutrition and environment sectors. The centre currently has 13 firms in incubation and intends to bring in two more before the end of the project. With the services they receive, these enterprises should be in a position by the year 2015 to create 25 jobs and bolster their sales on domestic and foreign markets.

This funding has been awarded through the Business and Regional Growth program. By supporting Ag-Bio Centre, Canada Economic Development is helping strengthen and stimulate the growth of the life sciences, health and nutrition sector, a priority area for the greater Québec region. This financial assistance is in addition to the $1.3 million granted to the organization since its creation.

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