January 23, 2019 | Local, Aerospace, Naval, Land, C4ISR, Security
Innovative Quebec start-ups are invited to participate in the CED Fast Forward Challenge
The Government of Canada will award up to $500,000 to innovative Quebec start-ups January 23, 2019 – Montréal, Quebec – Canada Economic Development for Quebec Regions (CED) The audacity and ingenuity of young innovative entrepreneurs is key in propelling Quebec into the economy of tomorrow. It is for this reason that the Government of Canada is launching a new initiative today aimed at helping these young entrepreneurs realize their business projects: the CED Fast Forward Challenge. The Challenge will allow dynamic young entrepreneurs to seize opportunities presented by ever-changing economic and technological conditions. The Challenge is being launched today by the Honourable Marc Garneau, Minister of Transport and Member of Parliament for Notre-Dame-de-Gr'ce—Westmount, who is extending an invitation to young people across Quebec who have entrepreneurial flair and who work in the high-tech sector to submit their business plans to Canada Economic Development for Quebec Regions (CED) between February 8 and April 1, 2019. In May 2019, 20 finalists will be invited to present the most promising projects to a panel of experts. The 10 businesses with the best projects will each receive a $50,000 award to carry out their business projects. Details regarding the Challenge can be found at canada.ca/ced-fast-forward-challenge. Quotes “Talent, particularly entrepreneurial talent, is a great resource. We aim to foster the emergence of new businesses by investing directly in the development of Quebecers' talent and skills. Through this initiative, our government will help young people from across Quebec launch their businesses and make their projects a reality.” The Honourable Marc Garneau, Member of Parliament for Notre-Dame-de-Gr'ce—Westmount and Minister of Transport “Initiatives such as the CED Fast Forward Challenge give innovative businesses the boost they need to carry out their projects. Through its Federal Strategy on Innovation and Growth for the Quebec Regions, the Government of Canada has adopted an ambitious approach aimed at stimulating innovation and growth for everyone. It represents a firm commitment to contribute to the development of a culture of innovation and, ultimately, the creation of more quality jobs for Quebecers.” The Honourable Navdeep Bains, Minister responsible for CED 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 CED Fast Forward Challenge is an initiative that stems from the Federal Strategy on Innovation and Growth for the Quebec Regions. Spearheaded by CED, and involving the participation of other federal departments, the Strategy targets 4 priorities and 14 areas of intervention aimed at fostering the adoption and development of innovative practices and ensuring the inclusive growth of all the Quebec regions. The funding was provided under CED's Regional Economic Growth through Innovation (REGI) program. For more information about CED and its priorities, refer to the 2018–2019 Departmental Plan or visit www.ced-dec.gc.ca. For 50 years now, the Government of Canada has been actively involved in regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses. https://www.canada.ca/en/economic-development-quebec-regions/news/2019/01/innovative-quebec-start-ups-are-invited-to-participate-in-the-ced-fast-forward-challenge.html