Corporation d'innovation et de développement des Îles-de-la-Madeleine receives $534,000 in financial assistance from CED.
Accelerating the growth of innovative businesses with a strong potential for spin-offs contributes to economic development in Quebec's regions. That is why the Honourable Diane Lebouthillier, Minister of Fisheries, Oceans and the Canadian Coast Guard, today announced, on behalf of the Honourable Pascale St-Onge, Minister of Tourism and Minister responsible for CED, a non-repayable contribution of $534,000 for the Corporation d'innovation et de développement des Îles-de-la-Madeleine. This CED support will enable the organization to pursue its mentoring activities, up to 2028, aimed at increasing the competitiveness of businesses on the islands.
More commonly known as La Vague, the Corporation d'innovation et de développement des Îles-de-la-Madeleine acts as a business project accelerator and collective economic development catalyst by focusing its actions on innovation. The projects it supports will foster the launch and growth of innovative businesses with strong development potential in the archipelago; an increase in entrepreneurial capacity among businesses in the territory to innovate; and the creation of value‑added jobs. CED's assistance will focus on the organization's operating costs as it guides businesses.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy.
Quotes
"An organization such as La Vague helps diversify the economy on the islands. As a local partner in the innovation ecosystem, its team provides businesses with personalized guidance that fosters an entrepreneurial environment conducive to growth. I am delighted with this new support from the Government of Canada for an organization that is making such a wonderful contribution to regional economic development."
The Honourable Diane Lebouthillier, Member of Parliament for Gaspésie-Les Îles-de-la-Madeleine and Minister of Fisheries, Oceans and the Canadian Coast Guard
"SMEs are at the core of community development and are part of our government's economic recovery plan. We are helping them launch structural, collaborative projects, which is why I am delighted with CED's support for La Vague's project. Its contribution to the economic vitality of Les Îles-de-la-Madeleine is undeniable! Without a doubt, the success and spin-offs of its project to develop and grow innovative entrepreneurial projects will be felt across the region and throughout Quebec and Canada."
The Honourable Pascale St-Onge, Member of Parliament for Brome-Missisquoi, Minister of Tourism and Minister responsible for CED
"We are proud to be able to count on CED, which recognizes the work La Vague does in stimulating innovation and growth among island businesses. Thanks to this funding, we will continue to guide entrepreneurs in implementing their projects and to strengthen our entrepreneurial ecosystem."
Gino Thorne, Director, La Vague
Quick facts
- Funding has been provided under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- SMEs represent 99.7% of Quebec businesses and contribute to 50% of the province's GDP.
- 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.
