Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

February 28, 2017 13:51 ET

More than $1,7 million dollar to five highly innovative Quebec companies

The funding will help with the acquisition of equipment, the promotion of the businesses' products and the creation of some 38 jobs

QUÉBEC CITY, QUEBEC--(Marketwired - Feb. 28, 2017) - Canada Economic Development for the Quebec Regions (CED)

Up to 38 new jobs in innovative businesses will be created as the result of a $1.7 million dollar federal investment which will prepare Quebecers working in the manufacturing sector for the jobs of the future.

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), welcomed this investment during his visit in the province.

This investment will allow the following five companies, all in the manufacturing sector, to develop the technologies and skills for the workers to bring to market more quickly their next generation products.

  • Eddyfi NDT Inc. designs, manufactures and markets inspection instruments, scanners, probes and software for non-destructive testing. The funding of $700,000 will allow the company to acquire production tooling and 5-axis machining centers to integrate its activities with those of recently acquired businesses; launch its new products on the market; and develop new international markets.
  • Optel Vision Inc. manufactures and markets inspection and serialization systems for the packaging and packing lines of businesses in the pharmaceutical, nutraceutical and cosmetic industries, including Lilly, Pfizer, Bayer and GE Healthcare. The funding of $500,000 aimed at supporting Optel Vision's growth by acquiring equipment intended to improve its productivity and by developing the Brazilian market.
  • IngeniArts Technologies Inc. is a small clean-tech start-up specializing in energy storage for electric vehicles. The funding of $250,000 helped the business manufacture demonstration units and promote its electromechanical battery for lift trucks.
  • Laserax Inc. specializes in the development of systems using laser technology in industrial applications that improve the productivity of manufacturing businesses. The funding of $150,000 will help the business enhance the international marketing of its products.
  • Dizal Inc. specializes in the design, production and marketing of premium exterior aluminum siding for the residential, commercial, industrial and institutional sectors. Its exclusive process incorporates a new high-speed digital printing technology that reproduces textures such as wood, brick and marble. The funding of $125,000 will allow the business to implement a marketing plan in Canada and the United States.

The Government of Canada's Innovation Agenda aims to make this country a global centre for innovation-one that drives economic growth and leads to better skills, jobs and opportunities for all Canadians. Key programs that support innovation and the diversification of the Quebec economy include the Quebec Economic Development Program.

QUOTES

"Where innovation happens matters because that's where the best jobs are located. And those jobs spin off into even more good middle-class jobs in every community where innovation happens. When companies need to invest, they look for the most innovative economies-those with the most creative and entrepreneurial people who can turn ideas into solutions. That's what creates jobs and drives growth in Quebec's economy."

The Honourable Navdeep Bains, Minister responsible for CED

"With this support from the Government of Canada, five Québec companies will continue to spread regional expertise abroad. High-performing and future-facing, they are contributing to the economic growth of our region and Canada and are creating jobs for the middle class."

The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development

Quick facts

  • The Government of Canada launched the Innovation Agenda, a moment for recalling the importance attached to strengthening the Canadian middle class and the means chosen to do so, which include making Canada a global centre for innovation.
  • The purpose of the Innovation Agenda is to encourage business competitiveness and to promote advanced manufacturing.
  • Improving the quality of life for the middle class is an essential aspect in Canada's prosperity, and that undeniably happens through investing in innovation.
  • CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.

Associated product

For more details on the five projects, read the attached information document.

Follow Minister Bains on social media

Twitter: @MinistreISED

Follow us on Twitter @CanEconDev

BACKGROUNDER

More than $1,7 million dollar to five highly innovative Québec companies

Up to 38 new jobs in innovative businesses will be created as the result of a $1.7 million dollar federal investment which will prepare Quebecers working in that sector for the jobs of the future.

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), welcomed this investment during his visit in the region.

The funding is awarded under the Quebec Economic Development Program (QEDP).

Promoter Contribution - Investment - Project Description
Eddyfi NDT inc. Repayable contribution of $700,000 out a total investment of $1,985,000
Established in 2009, Eddyfi is a technological SME that specializes in designing, producing and marketing non-destructive testing equipment. The project aims to implement a growth strategy for the company based on improving productivity, marketing new products and developing new markets. Among other things, the company will acquire 5-axis-machining and production-tooling centres in order to incorporate its operations into those of companies recently acquired. The project is expected to create 10 jobs.
Optel Vision inc. Repayable contribution of $500,000 out of a total investment of $2,230,000
Founded in 1992, Optel Vision is an innovative company that designs, manufactures and markets inspection and serialization systems for the product packaging and wrapping lines of companies primarily in the pharmaceutical, nutraceutical and cosmetics fields. The project aims to support Optel Vision's growth through purchasing equipment intended to increase its productivity and developing the Brazilian market. Hiring human resources for developing that market is also planned, as well as the professional fees for, among other things, optimizing operational processes. Marketing activities are also planned. The project is expected to create 15 jobs.
IngeniArts Technologies inc. Repayable contribution of $250,000 out of a total investment of $920,000
Founded in 2011, IngeniArts Technologies is a start-up SME in the clean technologies sector specializing in energy storage for electric vehicles. The project aims to carry out a set of activities for developing and marketing a smart system for electrical energy storage, a 4.0 battery. It is a UGOWORK (http://www.ugowork.com/) system geared to the lift truck market. The project's main activities are manufacturing demonstration units that are needed for testing the product in different environments and carrying out marketing activities such as a video capsule, brochure, Internet site and prospecting. Product certification for meeting the regulatory standards is also planned. The project is expected to create 1 job.
Laserax inc. Repayable contribution of $150,000out of a total investment of $400,000
Founded in 2010, Laserax specializes in developing and marketing industrial laser marking systems that enable metal producers and fabricators to have infallible traceability for their metal products. The project is expected to create 1 job.
Dizal inc. Repayable contribution of $125,000 out of a total investment of $250,000
Established in January 2016, Dizal is a start-up SME that specializes in designing, manufacturing and marketing high-end siding for the residential, commercial, industrial and institutional sectors. The exclusive process incorporates a new high-speed digital printing technology that reproduces textures like wood, brick and marble. The project aims to implement a marketing plan in Canada and the United States. The activities planned mainly include updating the website, placing advertisements, creating promotion materials, entering trade fairs and hiring a resource dedicated to sales and marketing. The project is expected to create 11 jobs.
In summary
Total number of projects: 5
CED's contributions: $1,725,000
Investments generated by these projects: $5,785,000
Jobs that should be created: 38

Contact Information