{"id":4385,"date":"2018-12-05T21:17:42","date_gmt":"2018-12-05T21:17:42","guid":{"rendered":"https:\/\/italchamber.qc.ca\/government-of-canada-invests-6-3m-in-artificial-intelligence\/"},"modified":"2024-10-10T15:32:09","modified_gmt":"2024-10-10T15:32:09","slug":"government-of-canada-invests-6-3m-in-artificial-intelligence","status":"publish","type":"post","link":"https:\/\/italchamber.qc.ca\/it\/government-of-canada-invests-6-3m-in-artificial-intelligence\/","title":{"rendered":"Government of Canada invests 6.3M$ in artificial intelligence"},"content":{"rendered":"
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Six Montr\u00e9al-based companies to scale up and expand into new markets<\/i><\/span><\/p>\n

MONTR\u00c9AL,\u00a0Dec. 5, 2018<\/span>\u00a0\/CNW Telbec\/ –\u00a0Canada Economic Development for Quebec Regions<\/a>\u00a0(CED)<\/span><\/p>\n<\/div>\n<\/div>\n

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Artificial intelligence (AI) technologies will shape a better future for all Canadians by creating good jobs and new sources of economic growth to make our economies more competitive, inclusive and sustainable. That is why the Government of\u00a0Canada<\/span>\u00a0is supporting six highly innovative businesses from Greater Montr\u00e9al<\/strong>.<\/span><\/p>\n

Today, the Honourable Navdeep\u00a0Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions, announced investments of nearly\u00a0$6<\/span>.3\u00a0million to support six AI businesses<\/strong> in their efforts to scale up and expand into new markets.<\/span><\/p>\n

Of this amount, a\u00a0$5 million<\/span>\u00a0repayable contribution will be provided to\u00a0Element\u00a0AI\u00a0Inc<\/a>.<\/strong>, a world leader in artificial intelligence that provides software products to help businesses be stronger, safer and more agile. This financial assistance will enable Element AI to continue deploying its operations abroad, increase its participation in trade shows, hire artificial intelligence specialists, and purchase computer equipment. It is anticipated this will create approximately 900 new jobs.<\/span><\/p>\n

In addition, nearly\u00a0$1.3 million<\/span>\u00a0is being provided to support the continued growth of five other innovative artificial intelligence companies in the\u00a0Greater Montreal<\/span>\u00a0area:\u00a0Imagia<\/a>,\u00a0Keatext<\/a>\u00a0Inc.,\u00a0ARA\u00a0Robotic<\/a>\u00a0Inc.,\u00a0C2RO\u00a0Cloud\u00a0Robotics<\/a>\u00a0Inc. and\u00a0Roof\u00a0Ai<\/a>.<\/strong> Combined, these investments are expected to create 77\u00a0jobs.<\/span><\/p>\n

The Government of\u00a0Canada<\/span>\u00a0is committed to supporting\u00a0Canada’s<\/span>\u00a0high growth-potential businesses to innovate, to increase their productivity and competitiveness, and to access new markets, thereby contributing to the economic growth of regions, job creation and a better quality of life for Canadians.<\/span><\/p>\n<\/div>\n

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Quotes<\/b><\/span><\/p>\n

“Artificial intelligence is transforming all industries and sectors, opening up more opportunities for Canadians. It’s exciting to see the vitality and creativity of these six Greater Montr\u00e9al companies that, each in its own way, are helping to strengthen\u00a0Canada’s<\/span>\u00a0role as a global leader in innovation and creating highly specialized jobs that play an essential role in the growth of\u00a0Canada’s<\/span>\u00a0digital economy.”<\/span><\/p>\n

The Honourable Navdeep Bains, Minister of Innovation Science and Economic Development and Minister responsible for CED<\/i><\/span><\/p>\n

“This investment from the Quebec Economic Development Program demonstrates yet again\u00a0Canada’s commendable leadership in AI, which has permitted Canadian companies like Element AI to shine. This investment will help accelerate the company’s global expansion, create jobs, and expand our innovation infrastructure.”<\/span><\/p>\n

Anne Martel<\/span>, Senior Vice President of Operations and Co-founder, Element\u00a0AI<\/i><\/span><\/p>\n

“With the support of CED, we are fortunate to be moving into the AI city of Montr\u00e9al. This will continue to foster our relationships with AI institutes, such as Mila and IVADO, and strengthen a healthcare AI ecosystem that includes other key institutes like Vector & AMII. The support provided will accelerate innovative discoveries for pharmaceutical, medical devices and diagnostic companies to make personalized medicine accessible for all patients.”<\/span><\/p>\n

Shelley Epstein<\/span>, Vice President, Corporate and Public Affairs, Imagia<\/i><\/span><\/p>\n

“Building a business is an ongoing challenge. It’s a journey that starts with finding the solution to a problem in the market and then coming up with ways of exposing that solution to clients. Along the way, it involves obtaining all the help you can in order to get there. Organizations like CED are valuable resources that make that journey shorter.”<\/span><\/p>\n

Narj\u00e8s Boufaden, President and CEO, Keatext<\/i><\/span><\/p>\n

“CED’s support is enabling us to go ahead with our marketing projects in\u00a0Canada<\/span>\u00a0and the United\u00a0States. With\u00a0CED’s assistance, we were able to support our growth and position ourselves in new markets outside Quebec.\u00a0“<\/span><\/p>\n

Pascal Chiva-Bernard<\/span>, President and CEO, ARA\u00a0Robotics<\/i><\/span><\/p>\n

“C2RO’s growth strategy is ambitious: we are commercializing our real-time machine intelligence solution globally to enhance the quality of everyday experiences with artificial intelligence. CED’s financial assistance will help boost our ability to penetrate global markets and extend the reach of C2RO’s game changing Engage\u00a0platform.”<\/span><\/p>\n

Riccardo Badalone<\/span>, CEO, C2RO\u00a0Cloud\u00a0Robotics<\/i><\/span><\/p>\n

“The Quebec Economic Development Program helped us penetrate the U.S. market faster and fuel our growth. Using the funding provided by the program, we were able to secure some of the biggest real estate companies in\u00a0the United States<\/span>.”<\/span><\/p>\n

Pierre Sabbagh<\/span>, President, Roof\u00a0Ai<\/i><\/span><\/p>\n

Quick facts<\/b><\/span><\/p>\n