Canada Economic Development

Canada Economic Development

February 01, 2012 09:30 ET

TelAsia Receives Funding From the Government of Canada to Implement Commercialization Strategy

LAVAL, QUEBEC--(Marketwire - Feb. 1, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that TelAsia Inc. is receiving financial assistance to promote its products on the American market.

"The Government of Canada supports innovative enterprises that, like TelAsia, are doing everything they can to succeed in the global marketplace. One in five Canadian jobs is trade related, so it is crucial that small and medium-sized enterprises bolster their presence on opportunity-rich markets," said Minister Lebel.

The Laval-based firm designs and contract manufactures a range of innovative products, primarily including kitchen and hardware items. On the basis of its commercialization strategy, TelAsia expects to enhance the visibility of its products among numerous buyers in the United States and generate a larger proportion of sales there. In the medium term, an increase in U.S. sales should allow the enterprise to manufacture and assemble more of its products in Canada.

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This $100,000 in repayable funding has been awarded under Canada Economic Development`s Business and Regional Growth program, an initiative aimed at strengthening the conditions conducive to the sustainable growth of Quebec's regions and small and medium-sized enterprises. The program's objectives also include helping enterprises develop new markets.

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