Nearly $2.5 million in federal aid announced for tech development

Ottawa sees Laval as an influential player in Quebec’s economy

Federal Minister of Economic Development Mélanie Joly was in Laval last week to announce more than $2.44 million in financial assistance to four Montreal-area organizations that play a key role in business development – three of which are in Laval.

Subsidy for C of C

In a statement issued by Joly’s office, the ministry says, “The repercussions the health crisis is having on the Laval economy are significant, and some regional organizations need assistance to structure their operations, manage cashflow and adapt to the COVID-19 situation to pursue their activities.”

A such, the ministry is granting a non-repayable contribution of $544,660 to the Chambre de commerce et d’industrie de Laval, to make it possible for the chamber to offer technical assistance services to businesses and NPOs affected by the economic impacts of COVID-19, and so they can benefit from the expertise and accompaniment of specialized resources.

Growing small businesses

“This will ensure they are better positioned for the economic recovery,” says the ministry. Laval is not alone in hosting organizations whose purpose is to encourage businesses to grow and prosper, while sometimes also helping plant the seeds to get them started.

In this screenshot from federal Economic Development Minister Mélanie Joly’s meeting with the Laval Chamber of Commerce and Industry last week are seen Joly (centre), as well as Alfred-Pellan MP Angelo Iacono, Vimy MP Annie Koutrakis, Laval-Les Îles MP Fayçal El-Khoury, Marc-Aurèle-Fortin MP Yves Robillard and chamber of commerce officials.

The greater Montreal region is home to thousands of entrepreneurs with innovative ideas and dynamic organizations helping to boost the vitality of their community by creating quality jobs and enhancing the regional economic fabric.

Enterprise incubators

With that in mind, Joly’s department is providing support to business incubators and accelerators which help leverage innovation and grow the economy. The Laval-based Centre québécois d’innovation en biotechnologie (CBIQ) and the Montreal-based Campus des technologies de la santé (CTS) are together receiving a non-repayable contribution of $1.5 million from the ministry.

According to her ministry, the CBIQ and CTS will be working together while using the money to establish MEDx, a program to support and accelerate the development of start-ups in the field of health care technologies.

The ministry is also supporting the Laval-based businesses Group Elite Communications and SynergX Technologies with up to $399,626, “to enable them to enhance their productivity and market their innovative solutions internationally,” says the ministry.

Helping create employment

“Homegrown businesses, regardless of their size, are key to kick-starting our economy,” Joly said during a webcast meeting with Laval Chamber of Commerce and Industry officials. “Helping them innovate so they can enhance their competitiveness and create jobs for Quebecers is thus at the heart of our priorities. With today’s announcement, our message is clear: we are here for Quebec with concrete measures and we are working with homegrown businesses to create jobs for Quebecers and rebuild a stronger economy.”

‘We are here for Quebec with concrete measures,’ Economic Development Minister Mélanie Joly said during a webcast from the Laval Chamber of Commerce and Industry

“While the current pandemic is having major repercussions at various levels, we will fight fiercely, including for the Laval region’s economic development, so that our residents can continue to work and ensure their family’s financial security,” said Laval – Les Îles MP Fayçal El-Khoury.

Support from Laval’s MPs

“The economy is recovering, and we are supporting our homegrown entrepreneurs as they demonstrate dynamism, innovation and resilience,” said Alfred-Pellan MP Angelo Iacono. “In this way, we are helping them kick-start our local economy now more than ever, thereby fostering the economic development of our community as well as the prosperity of Laval residents.”

“As Member of Parliament for Vimy, I would like to thank Minister Joly for her commitment to Laval’s economic development,” said Vimy MP Annie Koutrakis. “I am proud to play a part and to see businesses in our region take flight.”

Promising future, says MP

“Since being elected in 2015, I have been proud to advance the economic development of my region, and I reiterate my support for our government, which is offering essential assistance and a more prosperous future for Laval businesses,” said Marc-Aurèle-Fortin MP Yves Robillard.

The repayable and non-repayable contributions are being granted under the Economic Development Canada’s Regional Economic Growth through Innovation (REGI) program, which aims to help Quebec SMEs to develop through innovation, among other things. The non-repayable contribution for the Chambre de commerce et d’industrie de Laval is being granted through the Regional Relief and Recovery Fund (RRRF).