MONTRÉAL, QUÉBEC--(Marketwired - July 30, 2013) - 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 École de technologie supérieure (ÉTS) and the firm Kinova Inc. have been granted financial assistance for, among other things, the acquisition of technology equipment.
"By lending financial support to ÉTS and Kinova, the Government of Canada is confirming its commitment to making innovation the key to our country's economic future," said Minister Lebel.
ÉTS is part of the Université du Québec network. Specialized in applied learning and research in engineering and technology transfer, ÉTS trains engineers and researchers who are recognized for their practical and innovative approach. The funding from Canada Economic Development will allow the school to acquire semi-industrial equipment with a view to expanding the range of equipment required in its different laboratories, including the prototyping lab and the additive manufacturing research lab. Completion of this project should lead to an increase in businesses' investment in R&D and sales, while enabling them to undertake innovation activities.
For its part, Kinova Inc. is a young firm led by ÉTS engineering graduates which develops, manufactures and markets innovative solutions in the field of personal rehabilitation robotics. Its flagship product, JACO, is a light, user-friendly, affordable and precise robotic arm. Kinova will use the funding from Canada Economic Development to acquire strategic equipment and computer tools which will enable it to bring some of its manufacturing operations back to Quebec from Asia where they are currently located. This project should enhance the company's productivity and growth.
The financial assistance announced today for ÉTS amounts to $4,826,346 in non-repayable funding. Kinova Inc. receives $235,000, granted in the form of a repayable contribution. Both contributions are awarded through Canada Economic Development's Quebec Economic Development Program.
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