Canada to help industrial players reduce eco footprint with Cycle Momentum
by CM Staff
The CED anticipates this project will support the long-term recovery of the Canadian, Quebec, and local economies through a new perspective and inclusive growth.
MONTRÉAL — Canada Economic Development and Sport Minister Pascale St-Onge has announced a non‑repayable contribution of $1 million for Cycle Momentum.
The CED will provide this support in an effort to assist the development and adoption of technologies from start-ups that help make business practices and traditional sectors more sustainable and environmentally sound.
Additionally, Cycle Momentum will be able to launch five “open innovation” challenges with industrial partners in order to reduce the ecological footprint of their operations.
Cycle Momentum is a business accelerator and platform specializing in the clean tech sector. The CED anticipates this project will support the long-term recovery of the Canadian, Quebec, and local economies through a new perspective and inclusive growth. A statement from the Canadian government says it will lead to the creation of eight direct jobs and help promote the green economy.
The Canadian government says it recognizes businesses and organizations that are a source of support to their communities.
A statement from the Canadian government has indicated that Quebec’s economic recovery relies on the adoption of green technologies. Businesses that leverage clean technologies function as contributors to growth in taking up a smaller ecological footprint.
“Our government supports entrepreneurial spirit, most especially when the ingenuity and know‑how of our entrepreneurs lead to the development of green technologies. Innovation is a core priority for us, and we are proud to support innovative projects such as those by Cycle Momentum, which help create a less polluting environment. By leveraging these innovative projects, we are also investing in the well-being of future generations,” said St-Onge in a statement.