Investment project of more than $1.5M - Crypto4A Technologies builds on innovation to access the international cybersecurity market

GATINEAU, QC, May 28, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
The governments of Canada and Quebec have confirmed that they are awarding a total of $513,525 in financial assistance to Crypto4A Technologies to support its project, which involves intellectual property protection, technology demonstration, certifications, equipment purchases and commercialization.

The Government of Canada has granted a repayable contribution of $322,625 from Canada Economic Development for Quebec Regions (CED) through its Quebec Economic Development Program. The Government of Quebec has awarded a total of $190,900 in financial assistance. Of that amount, $25,000 comes from the Premier brevet program, $50,000 from Programme Exportation (PEX) and $115,900 from the Créativité Québec program.

Greg Fergus, Member of Parliament for Hull-Aylmer, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, and Maryse Gaudreault, Member for Hull, acting on behalf of Dominique Anglade, Deputy Premier, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, made the announcement today.

Crypto4A Technologies is a cybersecurity enterprise. It is developing the next generation of computer security products using cryptographic techniques that can resist modern cyber attacks, while ensuring quantum-computing readiness.

Quotes

"I am very pleased that Canada Economic Development can support the start-up and commercialization of Crypto4A Technologies. This new company is a great example of a forward-thinking SME, with a team of experts and dynamic entrepreneurs who embrace innovation."

Greg Fergus, Member of Parliament for Hull-Aylmer

"Crypto4A Technologies has plenty of ideas when it comes to innovating. For over five years now, it has been capitalizing on its expertise and creativity in designing a new generation of innovative cybersecurity platforms that will improve the security of data centres, among other things. The Government of Quebec is therefore very eager to help promote this technology on foreign markets."

Maryse Gaudreault, Member for Hull

"The Government of Canada is determined to support Canadian companies that build on innovation. As a true economic driver, innovation is the key to success because it generates growth that benefits businesses and communities. By supporting Crypto4A's project, our goal is to work together to deliver on our commitments and get results for Canadians."

Navdeep Bains, Minister responsible for CED

"Competitiveness and exports by innovative businesses are vital to the prosperity of the Outaouais region and Quebec as a whole and to the establishment of a sound economy that is open to the world. We are therefore proud to support the activities of Crypto4A Technologies because we want it to become even more productive and competitive, thus further strengthening regional economic vitality."

Stéphanie Vallée, Member for Gatineau, Minister of Justice and Minister responsible for the Outaouais region

"Crypto4A Technologies is among the promising Quebec enterprises that we are happy to guide in their efforts to protect their intellectual property assets and demonstrate and commercialize their innovations. One of our government's priorities is to raise awareness among businesses like this one about the growth potential associated with technological innovation and exports."

Dominique Anglade, Deputy Premier, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy

Quick facts:

• CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
• This year marks the 50^th anniversary of federal regional economic development in Quebec: half a century of concrete action dedicated to the development of the regions and local businesses. For more information on CED and its priorities, consult the 2018–19 Departmental Plan or visit www.dec-ced.gc.ca.
• The main goal of the Premier brevet program (website in French only) is to help more businesses protect their intellectual property assets.
• The goals of the PEX (website in French only) include raising awareness among Quebec businesses of the growth potential associated with exports and subsequently helping them develop and diversify their foreign markets.
• The Créativité Québec program (website in French only) helps enterprises meet milestones in developing or improving products or processes.

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SOURCE Canada Economic Development for Quebec Regions