Lü – Interactive Playground and HOLOS receive a total of $725,000 in financial assistance from CED.
QUÉBEC, July 4, 2023 /CNW/ – Canada Economic Development for Quebec Regions (CED)
Supporting the growth of innovative start-ups contributes to economic development in Quebec’s regions. That is why the Honourable Jean–Yves Duclos, Member of Parliament for Québec and Minister of Health, today announced, on behalf of the Honourable Pascale St–Onge, Minister of Sport and Minister responsible for CED, assistance from CED for Lü – Interactive Playground Inc. and HOLOS Food Inc., two Québec SMEs.
Lü – Interactive Playground is receiving a repayable contribution of $500,000. The business specializes in developing and marketing innovative audiovisual equipment for the education sector. It transforms traditional school environments into immersive, active interactive teaching spaces that enable children to develop emotionally, intellectually, and physically. CED’s support will be used to boost the SME’s growth through the implementation of its international marketing strategy.
For its part, HOLOS is receiving a repayable contribution of $225,000. The SME develops, prepares, and markets unique muesli recipes with high nutritional value. Its flagship product is a naturally flavoured “overnight breakfast” that is certified organic, vegan, and gluten-free. Each serving provides complete nutritional intake thanks to the grains and other ingredients it contains. CED’s assistance will enable HOLOS to test new recipes and implement a marketing strategy that will enable it, among other things, to participate in international trade shows and thereby enter new markets, including the United States.
The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. Quebec’s economic recovery relies, among other things, on organizations with strong roots in the regional economy. Innovation is a major contributor to growth, as well as a key asset in rebuilding a stronger, more resilient, greener, and more just economy for all.
“Supporting our SMEs so they can become more competitive internationally enables our economy to grow and good jobs to be created for the middle class. Thank you to businesses such as Lü and HOLOS that innovate and raise the profile of the city of Québec, Quebec, and Canada around the world. Together, we are creating a stronger, more resilient, more sustainable economy that will benefit all workers.”
The Honourable Jean–Yves Duclos, Member of Parliament for Québec and Minister of Health
“SMEs are at the heart of community development and are part of our government’s economic recovery plan. Thanks to this CED support, Lü and HOLOS will be able to develop new products and make themselves known in new markets. Their contribution to Québec’s economic vitality is undeniable! I am confident that the success and spin-offs of their respective projects will be felt right across the region, Quebec, and Canada.”
The Honourable Pascale St–Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
“We are honoured to once again receive the support and financial contribution of CED, which plays an essential role in our growth internationally and in our continued research and development efforts on the Lü system. Thanks to this valuable support, we are committed to pursuing our ambitious objective: To have a positive impact on the learning experience of 10% of children around the world.”
Vincent Routhier, President and Founder, Lü – Interactive Playground
“HOLOS is pleased to receive CED’s support as it executes its strategic plan, including exporting its organic, healthy, nourishing breakfasts internationally, as well as developing daring new products. With CED’s assistance, we can accelerate our growth in the United States and continue to invest in innovation while creating jobs and wealth here at home.”
Charles Sansregret, Chief Executive Officer, HOLOS
The funds have been granted 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.In Quebec, SMEs account for 99.7% of the province’s businesses and 50% of its 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.
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SOURCE Canada Economic Development for Quebec Regions