QUÉBEC CITY, QUÉBEC--(Marketwired - Nov. 8, 2016) - The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, and Dominique Anglade, Minister of the Economy, Science and Innovation and Minister responsible for the Digital Strategy, accompanied by François Blais, Minister of Employment and Social Solidarity and Minister responsible for the Capitale-Nationale Region, and Patrick Huot, Deputy Whip for the Government of Quebec and Member of the National Assembly for Vanier-Les Rivières, announced that a total of $82 million in government assistance, over five years, has been granted to the National Optics Institute (INO) to support operations and research in optics and photonics focused on industrial development.
"One of the Government of Canada's main priorities is growing the middle class, so it is proud to provide INO with historical support. The technological breakthroughs, the development of innovative processes and applications, and the technology transfers of this leading enterprise create companies and well-paid jobs that benefit the middle class. The success of INO, a driver of economic growth, reflects the vitality and creativity of our region," stated the Honourable Jean-Yves Duclos.
"Investing to further boost the knowledge economy is essential to ensure the growth and competitiveness of our enterprises. That is why our government is proud to support organizations such as INO, which help strengthen technological research and innovation in key sectors of our economy, including the optics and photonics industry," said Minister Dominique Anglade.
The financial assistance includes a non-repayable contribution of $50 million granted to INO by the Government of Canada under the Quebec Economic Development Program (QEDP) through Canada Economic Development for Quebec Regions, along with $32 million from the Government of Quebec.
In addition to granting this financial support, the Government of Quebec may also consider further funding requests by the organization of up to $19.5 million for the acquisition of specialized equipment, for example, and for calls for innovation projects and the implementation of government strategies.
"Thanks to INO, Quebec can increase its competitiveness and achieve major breakthroughs in the optics and photonics sector. We are therefore pleased today to support the continuation of its growth-generating activities, which are consolidating our region's reputation for excellence in this industry of the future," added Minister François Blais.
"INO is a genuine source of pride for the Capitale-Nationale Region, and all of our organizations benefit from its success. I invite them to seize the innovation opportunities presented to them through INO's industrial development research," stated Patrick Huot.
An international leader in research, INO is considered to be the largest industrial research and commercialization centre in the optics and photonics sector in Canada. The government support will provide INO with the flexibility it needs to continue its ongoing research and development activities and to move its technological innovations at the commercialization, promotion, dissemination and knowledge transfer stages to enterprises that can implement them.
Since its creation, the organization has contributed to the establishment of some 30 enterprises arising from its research, 60 or so technological transfers and over 200 patents. In addition, according to a 2014 study by Deloitte, INO's research activities have generated and maintained over 4,000 jobs annually in Canada, including 2,500 in Quebec alone.
For more information on the QEDP, visit http://www.dec-ced.gc.ca/eng/programs/qedp/index.html.
To receive news releases from the Quebec Department of the Economy, Science and Innovation in real time, subscribe to the appropriate RSS feed at www.economie.gouv.qc.ca/rss (in French only).