Feds to invest nearly $5M in 11 Quebec aerospace firms
Jul. 15, 2016 - The Canadian government says it will be investing nearly $5 million in 11 Quebec aerospace companies, which it says will help the companies “enhance their production capacity or implement a commercialization strategy” while helping them “get their products to market faster and more efficiently.”
The $4.98 million in financial assistance was announced this week by Navdeep Bains, minister of innovation, science and economic development and minister responsible for Canada Economic Development for Quebec Regions (CED), at the Farnborough International Airshow in Farnborough, U.K.
The companies that received funding include: APN, Alphacasting, Elimetal, Industries B. Rainville, DICI Industries, Lev-Fab, Luxia Innovation, M1 Composites Technology, Mesotec, Sonaca Montreal and Vestshell.
“Canada’s aerospace industry is a leading contributor to our economy in manufacturing output, exports and research and development activity. Internationally, Canada punches above its weight. Here at Farnborough, I was pleased to promote to the world the kind of made-in-Canada innovations that have made our country’s aerospace industry a global success. The future of the industry looks bright, with its leadership in artificial intelligence, clean tech, hybrid electric jets and other exciting developments we can’t yet imagine,” he noted.
During the show, Bains also announced the government is now accepting statements of interest for the latest round of the Technology Demonstration Program, which provides funding for collaborative projects to demonstrate applications of key technologies. Projects under the program provide the basis for next-generation technologies-part of the central contribution of the aerospace sector to Canada’s Innovation Agenda, he said.
According to Innovation, Science and Economic Development Canada, nearly 80 per cent of made-in-Canada aerospace products were exported to international markets last year.
CLICK HERE for details of the 11 aerospace sector projects.
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