QUEBEC CITY, QUEBEC--(Marketwired - Sept. 29, 2014) - An investment in Inno-centre, which will support Quebec's innovative businesses, enabling them to grow, prosper and create jobs, was announced today by 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, on behalf of the Honourable Ed Holder, Minister of State (Science and Technology).
Through the Canada Accelerator and Incubator Program (CAIP), Inno-centre will receive up to $3.3 million in funding over the next five years, providing local entrepreneurs with the resources and expertise needed to develop their business plan, seek follow-on financing and access new international markets for products and services. This organization plays an important role in the venture capital system, serving as an invaluable resource for entrepreneurs to make headway in a competitive global marketplace.
- On June 20, 2014, Prime Minister Stephen Harper announced fifteen incubators and accelerators chosen to advance in the selection process for CAIP, which is designed to help outstanding small and medium-sized Canadian enterprises to grow, prosper and create jobs.
- Delivered by the National Research Council of Canada's Industrial Research Assistance Program (NRC-IRAP), CAIP provides support in the form of non-repayable contributions to a small and select number of best-in-class accelerators and incubators. Recipients will be required to demonstrate matching contributions on at least a 1:1 basis during the period of the contribution funding.
- Inno-centre is a not-for-profit incubator/accelerator that offers a wide range of professional and business services to start-ups and technology-based companies in the fields of information technology and new media, green energy and natural resources, and industrial technologies including aerospace and agri-food.
- Québec City is partnering with Inno-centre to implement CAIP in the provincial capital region. The city will help mobilize the local business community and will support the establishment of a committee responsible for the development of Inno-centre's regional clients.
"Today's funding announcement will ensure Quebec's promising innovative businesses have the resources they need to grow, innovate, and create jobs here in Québec City. By investing in Inno-centre, our Government is supporting accelerators and incubators across the country while strengthening our local community's business innovation capacity."
Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec
"Business accelerators and incubators are critical players in a strong venture capital system in Canada. Our Government is supporting these organizations to provide advice, expertise and strategic direction to high-growth Canadian businesses, which will create jobs, economic growth and opportunities across Canada."
Ed Holder, Minister of State (Science and Technology)
"With this financial contribution from the Canada Incubator and Accelerator Program, Inno-centre will be able to support more than 30 companies by optimizing their ability to reach their full commercial potential."
Claude Martel, Président directeur général, Inno-centre
"We are thrilled by the implementation of the program in the capital and are offering our support to the deployment of Inno-centre. This collaboration is consistent with our Economic Development Strategy and we are confident that it will benefit our region, particularly with regards to job creation."
Régis Labeaume, Mayor of Québec City
• Prime Minister Stephen Harper helps Canadian start-up companies to grow and prosper