Financial support for Centech
Close to $5 million in support for three incubators of Montréal-based start-upsThursday, October 22, 2020
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, today announced a total non-refundable contribution of $4,999,100 to Centech, the Centre d'entreprises et d'innovation de Montréal (CEIM) and Bonjour Startup Montréal.
This financial support from the Canadian government will enable these organizations to pursue their mission of providing support for and incubating innovative SMEs in fields related to advanced technologies.
After having contributed $450,000 for the period spanning 2017 to 2020, the Minister reiterated her confidence in Centech by awarding the business incubator a similar amount for the 2020-2023 period.
Richard Chénier, Director General of Centech, is "delighted with the continued support from Economic Development Canada, which will enable us to go even further in providing guidance for start-ups. This new financial support will allow us to accelerate the development of Québec-based technological innovation projects and help to strengthen Montréal’s attractiveness in this area among the rest of Canada and on the international stage".
The Minister also pointed out that the pandemic has exacerbated the importance of companies and organizations creating innovative solutions that will allow them to stand apart from the crowd, improve productivity and ensure sustainable growth. She also highlighted development opportunities in the technology sector, which will undoubtedly stand out a one of the main solutions to the current situation, enabling Québec to enhance its resiliency in the face of the economic challenges posed by this health crisis.
According to François Gagnon, Director General of ÉTS: "Innovation and economic development are at the heart of our mission at ÉTS. With the support of the Government of Canada, Centech’s growing companies can pursue this mission to fruition by enhancing their research, and we are now in a position to propel them to higher levels and contribute even more to the economic recovery. No matter what the challenge, when we work together, we are part of the solution."