Government of Canada announces over $1M in support for five innovative Montréal businesses

MY01, Stathera, InfinityQ Technology, Sinistar and Solutions Beeye receive a total of $1,150,000 in financial assistance from CED.

MONTRÉAL, Aug. 21, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)

Supporting business growth and innovation contributes to economic development in Quebec's regions. That is why the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, today announced repayable contributions totalling $1,150,000 for MY01, Stathera, InfinityQ Technology, Sinistar and Solutions Beeye to boost their commercialization efforts. This CED assistance will enable the five Montréal businesses to implement their international marketing strategies, except for Stathera, which will be able to acquire equipment to accelerate the commercialization of its products.

Further details on these projects can be found in the related backgrounder.

The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy.

Quote

"Our government has a mission to guide businesses and our regions into tomorrow's economy. Today, we are supporting five SMEs with the wind in their sails to help them commercialize their products and services. Without a doubt, the success and spin‑offs of the projects by MY01, Stathera, InfinityQ Technology, Sinistar and Solutions Beeye will be felt across the Greater Montréal region, Quebec and Canada!"

The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED

Quick facts

• The funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
• In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
• CED is the key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.

Associated link

• CED funding initiatives and programs

Stay connected

Follow CED on social media
Consult CED's news

SOURCE Canada Economic Development for Quebec Regions

Information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Marie-Justine Torres, Press Secretary, Office of the Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions, Cell: 613-327-5918, [email protected]