Canada Economic Development

Canada Economic Development

May 27, 2013 10:00 ET

Quebec Biotechnology Innovation Centre Receives Financial Support From Government of Canada

LAVAL, QUEBEC--(Marketwired - May 27, 2013) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities, Minister of the Economic Development Agency of Canada for the Regions of Quebec and Minister of Intergovernmental Affairs, announces that the Quebec Biotechnology Innovation Centre (QBIC) has been granted funding that will enable it to improve its service offering and stimulate the development of emerging enterprises in the life sciences and health technology sector.

"By supporting the Quebec Biotechnology Innovation Centre in the acquisition of state-of-the-art technology, our government is showing proof once again of its commitment to invest in projects that can help grow the economy," said Minister Lebel.

Founded in 1995, the QBIC is a business incubator that specializes in life sciences and health technology. The non-profit organization offers a variety of services to research entrepreneurs, including consultancy and guidance, networking, and access to office space, laboratories and scientific equipment to facilitate business creation and startup. In providing support to enterprises in the biotechnology and health technology sector, the QBIC is contributing to the economic growth of the regions of Quebec.

"This financial assistance from the Government of Canada will allow us to offer young firms in the health sciences and health technology industry the opportunity to evolve in an environment that is favourable, if not essential, to their attaining their full technological innovation potential," explained QBIC Executive Director Louis Saint-Jacques.

The funding from Canada Economic Development will enable the organization to modernize its bank of scientific equipment by acquiring, among other things, an ultra high performance chromatograph for the faster and more accurate detection and analysis of a wider range of molecules.

"Our government remains focused on four priorities, as outlined by the Prime Minister, that Canadians care most about: their families, the safety of our streets and communities, their pride in being a citizen of this country, and of course, their personal financial security," concluded Minister Lebel.

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This assistance, granted in the form of a $240,000 non-repayable financial contribution, has been awarded through Canada Economic Development's Quebec Economic Development Program.

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