QUÉBEC CITY, May 16, 2018 /CNW Telbec/ – Canada Economic Development for Quebec Regions (CED)
Businesses need to be able to rely on adequate resources to create and commercialize innovative products. In 2017, the Government of Canada adopted an ambitious plan to support innovative Canadian enterprises. As a true economic driver, innovation is the key to Canada’s success in that it generates growth that benefits businesses and communities.
Four businesses in the information and communications technology (ICT) sector, Virtual Construction & Technology BIM One Inc., Nuutok Entreprise Inc., 9288-3537 Québec Inc. (inbe™) and Amotus Solutions Inc. were able to count on $563,000 in financial assistance from the Government of Canada to start up their activities or extend the commercialization of their solutions across Canada and abroad. These projects will generate total investments estimated at more than $1.7M and create 31 skilled, well-paying jobs in the area.
The repayable contributions were announced today by Joël Lightbound, Member of Parliament for Louis-Hébert and Parliamentary Secretary to the Minister of Finance, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
The funding granted by the Government of Canada through CED’s Quebec Economic Development Program will help the recipient businesses achieve their growth objectives.
“The information and communications technology sector plays a key role in the economic development of the Capitale-Nationale region. I am therefore very pleased about the Government of Canada’s support for these young innovative businesses, which I see working very hard to meet their ambitious business goals.”
Joël Lightbound, Member of Parliament for Louis-Hébert and Parliamentary Secretary to the Minister of Finance
“As Minister of Innovation, Science and Economic Development, my goal is to help enterprises grow and innovate so that they can become more competitive and create high-quality jobs and wealth for Canadians. That is why we are supporting these four creative, dynamic enterprises that are contributing to the economic vitality of the region and the Canadian economy overall.”
The Honourable Navdeep Bains, Minister responsible for CED
Contribution – Investments – Project description
Repayable contributions of $250,000 and $75,000 out of total investments of $1,128,000
This young company works in building information modeling (BIM) and has developed BIM Track software, a collaborative management and problem-solving platform designed to improve the BIM coordination process.
Following a successful start-up phase in which CED contributed to an initial project, the second project includes a set of commercialization activities for BIM Track software and complementary products, including participation in trade shows, the development of promotional material and the implementation of an electronic marketing campaign.
Virtual Construction & Technology BIM One Inc. has tasked itself with helping its clients more effectively plan, organize and control their engineering, architecture and construction projects, simplifying them and making them more efficient and profitable. Its BIM Track software and complementary products are highly specialized, cutting-edge tools for architects, engineers, entrepreneurs, manufacturers, owners and operators, as well as municipal administrations and urban planners.
Repayable contributions of $68,000 and $30,000 out of total investments of $196,000
Nuutok is an information technology business that develops and commercializes secure, simple and affordable data-sharing solutions that are easily accessible at work and on all types of mobile devices.
This great adventure began in 2014, when some young entrepreneurs developed and implemented a data warehousing solution prototype for a client which combined the respective advantages of cloud solutions and conventional servers: mobility and security.
Nuutok Entreprise Inc. was created in the wake of that successful project and, in 2016, it received its first CED contribution. The financial assistance supported the enterprise’s start-up activities, notably to develop its sales infrastructure: website and online shop design, and the hiring of a sales manager. The funding also helped the company develop its corporate image and take part in commercial representation activities.
Nuutok grew and was granted a second CED contribution in 2017 to cover the cost of designing a mobile application and extending its commercialization activities across North America. More specifically, CED’s assistance will go toward covering the costs of advertising, developing business leads and participating in representation activities with distributors and potential clients.
Repayable contributions of $50,000 and $40,000 out of total investments of $330,000
In 2016, CED awarded an initial contribution to inbe™ (9288-3537 Québec Inc.), a young business established in 2013 that operates in the information technology sector.
During its first years, the company carried out high value-added service mandates in the area of innovation, where it identified a gap between consumer needs and expectations regarding product development. inbe™ turned this gap into a business opportunity by developing a secure collaborative platform on the Web—inbe™—allowing businesses to easily capture feedback from targeted consumers throughout the product design process.
A year later, inbe™ saw opportunities to target commercialization efforts for its solution to the agri-food and cosmetics industries in Belgium, France, Ontario and Quebec. CED has provided financial assistance for that promising project. The contribution will go toward the company’s participation in sales prospecting meetings and the development of promotional tools.
Repayable contribution of $50,000 out of a total investment of $110,000
Thanks to CED’s contribution, the business has been carrying out major commercialization activities in Canada, the United States, Mexico and France for its wireless backhaul solutions and its multi-platform software development services.
The wireless solutions include Nubitus, which is the size of a USB key, improving data collection and traceability and reducing secure file transfer time. The project funded by CED was launched to support sales growth for its products, particularly with manufacturers of non-destructive testing equipment and large inspection companies.
Having started its operations in 2013 with financial support from CED and other financial partners, the company has been experiencing exceptional growth ever since. In five years, it has obtained many contracts, some of which are very large.
• Number of projects: 7
• Number of jobs created: 31
• CED’s contributions: $563,000
• Total investments generated by these projects: $1,764,000