Saturday, February 3, 2024
Small and medium-sized enterprises (SMEs) play a crucial role in Quebec’s shift towards an environmentally sustainable economy. Their drive for innovation and competitiveness in a more eco-friendly marketplace is recognized by the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for the Canada Economic Development for Quebec Regions (CED), who today announced CED’s backing for OLA Bamboo and Secure Exchanges.
OLA Bamboo, a company focused on producing bamboo and recycled wood personal care items such as toothbrushes, cotton swabs, and washable makeup removal pads, has been granted a repayable contribution of $150,000 from CED. This funding will support the company’s expansion and enhance its competitiveness through the acquisition and installation of new production equipment, including a laser, dust collector, saw, and wood cutter, aimed at automating its operations. Additionally, the support will partly fund the implementation of a marketing strategy in major Canadian cities like Vancouver, Calgary, and Toronto, aiming to expand its market reach and increase production capacity.
Similarly, Secure Exchanges, specializing in secure data transfer solutions compatible with Microsoft Outlook, Gmail, and its proprietary online platform, has received a repayable contribution of $250,000. This investment will help the cybersecurity-focused SME to devise a marketing and market expansion strategy, thereby facilitating its growth. The company plans to use the funds for creating online content and advertisements, obtaining additional certifications, and recruiting specialized staff.
The transition towards a sustainable, equitable, and inclusive economy significantly depends on SMEs embracing green practices and adopting digital and cybersecurity technologies. The Canadian Government, through initiatives like these, promotes sustainable development throughout Quebec, ensuring the longevity of its businesses with a focus on cybersecurity. Customized programs and services are designed to expedite the launch of innovative projects, the uptake of clean technologies, and the production of eco-friendly goods. Through such measures, CED offers tangible support to Quebec’s enterprises, entrepreneurs, and workforce, equipping them to navigate and benefit from the evolving economic landscape.
“Manufacturing businesses play a key role in Quebec’s economy and in the green transition. That is why our government is committed to supporting them so they can remain competitive and innovative, and also equip themselves with what they need to carve a place out for themselves in tomorrow’s economy. Hence CED is assisting OLA Bamboo and Secure Exchanges, for whom preserving the environment is just as important as ensuring their growth in complete security.”
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
“Thanks to the Government of Canada’s financial support, OLA Bamboo is proud to continue as a pioneer in the industry and the uncontested leader in toothbrushes in the country. We are delighted to announce the expansion of our production lines, with a particular focus on ecological innovation. Our latest achievement—a toothbrush that is one of a kind around the world, made entirely of Canadian maple from the circular economy—reflects our commitment to sustainability and excellence. We are grateful for this productive collaboration that is helping to build a greener future for all.”
Simon-Pier Ouellet, Vice-President and Co-founder, OLA Bamboo
“At Secure Exchanges, our vision is to redefine communications security around the world. As experts in end‑to‑end encoded exchanges, for both emails and PDF document signatures, we are proud to receive CED’s support. Thanks to this financial assistance, we are able to accelerate our marketing strategy and expand our presence on international markets, thereby representing Canadian cybersecurity excellence. This opportunity reinforces our commitment to provide frontline security solutions, while also showcasing Canadian innovation in this strategic sector.”
A 2022 survey conducted by Canadian Manufacturers & Exporters highlighted that 90% of Canadian manufacturing small and medium-sized enterprises (SMEs) have yet to start their journey towards achieving net-zero emissions, despite SMEs being responsible for around 30% of Canada’s greenhouse gas (GHG) emissions.
The Canada Economic Development for Quebec Regions (CED) plays a pivotal role as the federal government’s primary partner in fostering regional economic development within Quebec. With its network of 12 regional business offices, CED is dedicated to guiding businesses, support organizations, and regions throughout Quebec towards the economy of the future.
The financial assistance announced today is allocated through the Jobs and Growth Fund (JGF) program. This initiative is designed to support businesses and economic organizations in preparing for sustainable long-term growth by making strategic investments. The focus of these investments is on projects that aim to minimize Canada’s environmental footprint and promote the development of a green and resilient economy.
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