Make Canada a world leader in innovation by supporting incubators and accelerators driven by excellence

The Government of Canada will award $12 million in financial assistance over 4 years to Quebec business incubators and accelerators that stand out for their excellence

MONTREAL, May 6, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Economic growth and the creation of good jobs for Canadians rely on innovation. That is why, in addition to investing in innovative businesses, the Government of Canada works in synergy with business incubators and accelerators. These incubators and accelerators offer crucial support to young innovative startups with high growth potential, at all stages of their existence. They are also nurseries of talent and innovation.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, announced the launch of the call for proposals for the new Incubators and Accelerators Driven by Excellence (IADE) initiative.

With a budget of $12 million over 4 years under the Regional Economic Growth through Innovation program, this new initiative will help incubators and accelerators in Quebec's regions position themselves at a world-class level of excellence. The IADE initiative will thereby strengthen the potential of our startups, as it will ensure that they are supported by exceptional organizations that are well connected and able to create success stories that extend beyond our borders. It will also strengthen the dynamism of our innovation ecosystem by mobilizing incubators, accelerators and other stakeholders (universities, college technology transfer centres, consortia and research centres, etc.) around joint projects that will help make Canada a world leader in supporting young innovative startups.

Quotes

"Innovative businesses are the driving force for the economic growth and job creation of tomorrow. That is why we must provide them with the support they need to succeed. By supporting and mobilizing incubators and accelerators that are driven by excellence to make them world-class players, we are ensuring we are well positioned to meet the needs of the young innovative businesses that will be at the leading edge of our economy in the years to come."

The Honourable Navdeep Bains, Minister responsible for CED

Highlights

• There is an increasing number of incubators and accelerators throughout Quebec. Their development and maturity stages are variable.
• Funding applications for the IADE call for proposals must be received by June 7, 2019, 11:59 p.m. EST.
• CED's IADE initiative reinforces the support that CED already provides to regional innovation ecosystems through its main program, Regional Economic Growth through Innovation (REGI), to help them create an inclusive regional business environment conducive to innovation and business growth.
• The REGI program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, as well as regional economic stakeholders who help create an entrepreneurial environment conducive to innovation and inclusive growth in all regions.
• To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec‑ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Regions, Tel.: [phone], Email: [email protected]