Squid Squad Studio de production numérique will be able to launch its VFX production operations

The Government of Canada awards over $100,000 in funding to the Matane business

MATANE, QC, July 25, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Squid Squad Studio de production numérique (Squid Squad) is a startup company that is part of the film and television industry value chain. To help the business launch its commercial operations, Canada Economic Development for Quebec Regions has awarded the company a $100,950 repayable contribution. The funding will allow the company to acquire and install VFX production equipment, including computer equipment.

The funding was announced today by Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development. Specifically, this Government of Canada financial assistance will allow Squid Squad to start up its innovative business, which aims to integrate into the film and television sector, a sector that holds great promise and in which, globally, Quebec holds a competitive advantage.

Squid Squad was created to provide a local solution for post-production services, including digital painting, rotoscoping and 3D tracking. In addition, the proximity of a pool of students in the 3D animation and image synthesis program at the Matane CEGEP is a definite advantage for Squid Squad, which will be able to count on a skilled workforce, thus helping to retain young people in the region. The project is expected to create 37 jobs over the next three years.

The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success because it generates growth that benefits both businesses and communities, which is why the Government is committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.

Quotes

"I am proud to announce Government of Canada funding for Squid Squad, a startup company that has made a name for itself through its drive, boldness and sense of innovation. This contribution will allow the company to pursue its development and generate economic growth in our region."

Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development

"Our government is giving Canadians the means to become more competitive and to thrive in the global economy. The funding announced today for Squid Squad is in line with Canada's competitive advantages generated through the organization's innovative project, and will boost economic growth. It will also create good jobs for middle-class Canadians."

The Honourable Navdeep Bains, Minister responsible for CED

"Today's contribution from Canada Economic Development will allow us to acquire the latest equipment and software required for our startup. We will then be able to provide high-standard services, unique in Quebec, and create jobs and wealth in our community."

François B. Rioux, President of the Board of Directors, Squid Squad

Quick facts

• Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
• The funding was provided under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, and 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, 514-283-7443, [email protected]