The CED Fast Forward Challenge specifically aims to strengthen the regions’ assets by building on boldness and ingenuity. In the Eastern Townships, it was the companies Cigogne Technologies Inc., SB Technologies Inc. and Technologie Hoola One Inc. that won a $50,000 grant each.
The Honourable Marie-Claude Bibeau, Member of Parliament for Compton–Stanstead and Minister of Agriculture and Agri-Food today announced the names of the ten innovative start-ups that were proclaimed as winners of the first CED Fast Forward Challenge.
In addition to the three companies in Sherbrooke, they are: CANN Forecast Logiciel Inc., Cigogne Technologies Inc., Femtum Inc., Laboratoire Innodal, Puzzle Medical Devices Inc., Pyrocycle, Les Solutions Keenoa Inc. (commonly known as Keenoa), and Wastack (943129 Canada Inc.). These ingenious entrepreneurs will be able to turn their business projects into reality when their companies receive grants totalling half a million dollars awarded by Canada Economic Development for Quebec Regions (CED).
The CED Fast Forward Challenge is a pilot project that aims to support innovative entrepreneurship in young people. Launched in January 2019, this competition offered 10 start-up companies in high-tech sectors the possibility of receiving a $50,000 grant. Roughly 72 companies from various regions of Quebec took part in the competition. Out of those, 20 finalist projects were presented to an expert panel on May 27 and 28.
The CED Fast Forward Challenge reflects the Government of Canada’s commitment, under the Federal Strategy on Innovation and Growth for the Quebec Regions, to foster the development of new companies by investing in innovation and talent. It will help increase the number of young people who will be at the forefront of innovation in Quebec in the coming years. Supporting innovative start-ups is also one of CED’s priorities.
“Through the CED Fast Forward Challenge, these young talents will be able to turn their entrepreneurial dream into reality. I’m keen to see the results of the business projects by the Eastern Townships winners. A new generation of innovative entrepreneurs is building a very bright future for us.”
The Honourable Marie-Claude Bibeau, Member of Parliament for Compton–Stanstead and Minister of Agriculture and Agri-Food
“Young innovative businesses are key to the strength of the Canadian economy. The financial assistance awarded to these companies is concrete support for the next generation of entrepreneurs in high-tech sectors, in keeping with the Federal Strategy on Innovation and Growth for the Quebec Regions. Congratulations to the winners and to all those who want to go into business by venturing off the beaten path.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED