Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions
KINESIQ Inc.

KINESIQ Inc.

February 27, 2017 10:30 ET

Support for KINESIQ to market its innovative products and continue growing

Government of Canada provides financial assistance for the Granby company as part of a round of funding of over $1.2 million

GRANBY, QUEBEC--(Marketwired - Feb. 27, 2017) - Pierre Breton, Member of Parliament for Shefford, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, has announced that KINESIQ Inc. has been awarded financial assistance of $100,000 in the form of a repayable contribution.

Innovation is a true economic driver that contributes to the growth of our businesses and benefits communities and the middle class. Businesses need to be able to rely on adequate resources to create and commercialize their innovative products. That is why the Government of Canada and its partners are committed to supporting innovative Canadian companies like KINESIQ.

Joining the Government of Canada in this round of funding are KINESIQ's other partners: the Business Development Bank of Canada, the centre d'aide aux entreprises Haute-Yamaska et région, Granby Industrial Incubator - CITIG, the Campus des technologies de la santé, the National Research Council Canada, the ministère de l'Économie, de la Science et de l'Innovation du Québec, Desjardins Entreprises-Haut-Richelieu-Yamaska, the Accélérateur de création d'entreprises technologiques (ACET), ACET Capital and a number of private investors.

Startup enterprise KINESIQ develops equipment to improve the quality of life and physical and neurological condition of vulnerable individuals. By designing and commercializing these innovative products-such as the KINÉ-SIM-the company provides health workers with the tools they need to improve their patients' balance, reflexes and lower limb functions, while working to reduce the impact of degenerative diseases. In addition, the product is well suited to programs for the prevention of falls and for helping older people maintain their functional autonomy.

The financial assistance is intended to support implementation of a strategy for marketing KINESIQ products to hospitals, physiotherapy clinics, rehabilitation centres and seniors' residents in Canada and abroad. In addition to supporting marketing, the funding provided under CED's Quebec Economic Development Program (QEDP), as well as the funding from other partners, will enable the business to purchase hardware and software tools for quality control and the design of multimedia content. Lastly, KINESIQ plans to carry out activities related to certification of its products for some areas and to the protection of intellectual property.

In addition to increasing domestic and foreign sales, KINESIQ anticipates that marketing of the KINÉ-SIM will help to create about 10 jobs in 2017.

Quotes

"Through its innovative ideas and unrelenting work, the KINESIQ management team is improving people's quality of life and creating wealth for the residents of Granby and the region. My sincere congratulations on this success story, which demonstrates, once again, the ingenuity of Canadians!"

Pierre Breton, Member of Parliament for Shefford

"As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow, innovate and export so that they can create good quality jobs and wealth for Canadians. That is why we support businesses like KINESIQ."

The Honourable Navdeep Bains, Minister responsible for CED

"We are delighted with the support from our many partners, which enables us to accomplish our mission of improving health and quality of life for vulnerable people. Without this solution, it would be very difficult for startup health technology businesses, like KINESIQ, to make a breakthrough, either locally or at the international level."

Lukas Dufault, President of KINESIQ Inc.

"KINESIQ's solution is not only innovative, but stands apart in terms of flexibility, giving it substantial market potential and making it easy to export. I am proud and privileged to be able to help these entrepreneurs move forward with this highly promising company."

Ghyslain Goulet, President and CEO of ACET

"KINESIQ is an innovative, leading-edge company, with a remarkable team and a proven track record in the medical technology field. Our investment will help it to grow even more quickly, and is a clear illustration of our desire to help build a mature technology sector in Canada, able to stand front and centre on the world stage."

Justin Fortin, Account Supervisor, Business Development Bank of Canada

"We are very proud to be able to contribute to the development of KINESIQ. With this investment, we seek to enable a local technology firm to obtain the financial resources it needs to compete internationally."

André Blouin, Centre d'aide aux entreprises Haute-Yamaska et région

"We are very pleased to be part of the success of KINESIQ, an enterprise located in the Granby industrial incubator. KINESIQ's story is a perfect illustration of CITIG's role, and this great success will showcase our region."

Patrick St-Laurent, Director General, Granby Industrial Incubator - CITIG

"Desjardins is very proud to be part of the development of a promising startup firm like KINESIQ, so as to increase access to an innovative technology that will definitely have an impact on the quality of life for vulnerable people. Congratulations on the results of all your hard work."

Nathalie Daviau, Account Manager, Desjardins Entreprises-Haut-Richelieu-Yamaska

"We are convinced of the potential of this startup, which offers an original technological solution with definite value added, responding to the needs of the aging global population, and are both pleased and proud to contribute to its success, as a coach and investor."

Yvan Beaudoin, President and CEO, Campus des technologies de la santé

About KINESIQ INC.

KINESIQ designs, assembles and markets medical equipment integrating technologies from the simulation world for the physical and neurological rehabilitation market and to help maintain function autonomy. The products allow for rehabilitation of the lower limbs following injury and improve balance and reflexes. They are also designed to be integrated into fall prevention programs. KINESIQ's primary objective is to help improve health and quality of life for individuals who are becoming more fragile, are nearing end of life or are suffering from degenerative disease. For more details, visit http://www.kinesiq.com/en/

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