Women's leadership: Government of Canada contributes to Puzzle Medical Devices' development

Puzzle Medical Devices, a business co–founded and led by a woman, receives $300,000 in financial assistance from CED to increase its productivity.

MONTRÉAL, March 27, 2023 /CNW/ - Canada Economic Development for Quebec Regions (CED)

The Honourable Marc Miller, Member of Parliament for Ville–Marie‒Le Sud–Ouest‒Île–des–Sœurs and Minister of Crown-Indigenous Relations, today announced, on behalf of the Honourable Pascale St–Onge, Minister of Sport and Minister responsible for CED, a repayable contribution of $300,000 for Puzzle Medical Devices (PMD). This CED support will enable the Montréal SME to increase its productivity and production capacity by acquiring digital equipment and a cleanroom and securing its intellectual property.

Founded in 2018 by young entrepreneurs under the age of 30, PMD is a start-up specializing in the design and manufacture of medical devices. Jade Doucet–Martineau, Co–founder and CEO, is a daring young woman entrepreneur. Along with the other two co–founders, she has been able to build a business that is constantly distinguishing itself, including when it developed the world's first percutaneous heart pump for patients suffering from advanced heart failure. The modular design of the device makes for percutaneous implants that are less invasive and do not require open–heart surgery.

Women such as Jade Doucet-Martineau play an instrumental role in the country's economic development. Following International Women's Day, celebrated on March 8, the Government of Canada wishes to showcase their leadership and know–how, which are essential in building a Canadian economy that is stronger, more resilient, and more inclusive.

Quotes

"Across the country, entrepreneurs participate in the economic vitality of our communities by creating good jobs. Today's announcement for Puzzle Medical Devices is proof once again of the Government of Canada's commitment to women entrepreneurs and innovative businesses in the metropolis, in line with our economic recovery plan. Congratulations to the PMD team on this promising project in the field of medial equipment manufacturing!"

The Honourable Marc Miller, Member of Parliament for Ville–Marie‒Le Sud–Ouest‒Île–des–Sœurs and Minister of Crown–Indigenous Relations

"Our government has set itself the mission to support the growth of Canadian businesses and the economic diversification of communities, which cannot be done without the key contribution of our women entrepreneurs. Assisting women from Quebec who choose the path of entrepreneurship leads to inclusive growth in our regional economies, paving the way for a prosperous future. SMEs such as Puzzle Medical Devices are key drivers in our economy and our communities, and I am delighted with CED's support for this project by this thriving business. Its success and spin–offs will contribute to the economic vitality of the Greater Montréal region."

The Honourable Pascale St–Onge, Member of Parliament for Brome‍–Missisquoi, Minister of Sport and Minister responsible for CED

"At Puzzle Medical, we believe that every heart deserves a fighting chance. Our mission is to empower heart failure patients with a cutting-edge artificial heart, providing hope for a longer and healthier life. With over 30 million people affected by this condition globally, we are committed to make a significant impact in the fight against heart failure."

Jade Doucet-Martineau, Co–founder and CEO, Puzzle Medical Devices

Quick facts

• The funds announced today have been granted under the Jobs and Growth Fund (JGF). This program targets businesses and economic organizations to help them prepare local economies for long–term growth. It involves strategic investments in projects aimed at reducing Canada's environmental impact and fostering a green, resilient economy.
  
  
• Today's announcement is part of a series of announcements regarding investments totalling over $3 million in women–owned and –led businesses. These announcements celebrating women's leadership will take place across the province through to the end of March 2023.
  
  
• CED is a 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 links

• Puzzle Medical Devices
• Equity, Diversity and Inclusion: Levers for the Growth of SMEs and NPOs
• CED funding initiatives and programs

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SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Ariane Joazard-Bélizaire, Press Secretary, Office of the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]