Laval businesses receives $400,000 in financial assistance from CED.

LAVAL, QC, May 13, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)

Supporting innovation and growth contributes to economic development in Quebec's regions. That is why Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED, today announced a repayable contribution of $400,000 for RVE – Recharge Véhicule Électrique. This CED support will enable the Laval SME to increase the pace of its export market development efforts.

RVE specializes in the design of energy management systems for electric vehicles and holds a North American patent on a charge controller for electric vehicles. This thriving business would now like to expand its market. The financial support from CED announced today will make it possible to hire employees dedicated to implementing a marketing strategy targeting mainly the U.S., as well as fund some of its promotional activities so that, in time, RVE can expand its distribution network.

CED is proud to support businesses and organizations that are a source of pride in their communities. Quebec's economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy.

"Helping businesses grow and innovate so they can become more competitive and create good‑quality jobs is a core priority for us. That is why CED is supporting RVE, whose success is raising the profile not only of the Montréal region, but also of the Canadian economy as a whole. We are here to help workers and Quebec and Canadian SMEs so that, together, we can build a stronger, more resilient, more sustainable economy."

Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED

"SMEs are at the core of community development and are part of our government's economic growth plan. We are helping them to innovate and grow. That is why I am delighted with CED's support for RVE's project, which will make it possible to not only create good jobs, but also contribute to the city of Laval's economic vitality. Thank you and congratulations to the entire RVE team on this wonderful project."

The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED

"We are very thankful to CED for its financial support and for enabling us to accelerate the marketing of our products. RVE has a mission to transform the at-home charging industry, and our solutions are particularly relevant to the U.S. in the context of limited electrical capacity."

Frédéric Boucher, Chief Financial Officer, RVE

• 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 the 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.

• RVE
• CED funding initiatives and programs

Follow CED on social media
Consult CED's news

SOURCE Canada Economic Development for Quebec Regions