CED Grants Financial Boost to Innovative Québec SME
Innovative young SME from Québec receives $200,000 in financial assistance from CED.
QUÉBEC, March 18, 2026 /CNW/ – Canada Economic Development for Quebec Regions (CED)
In a significant announcement today, Jean-Yves Duclos, Member of Parliament for Québec-Centre, conveyed on behalf of the Honourable Mélanie Joly, Minister of Industry and the Minister responsible for CED, a repayable contribution of $200,000 to Point Laz Mining Laser Expertise (Point Laz).
This financial infusion aims to augment the SME’s capacity for international marketing, allowing for the development of a commercial iteration of its Lazaruss product, completing vital demonstrations and pilot tests, and securing necessary export certifications.
Fostering the marketing endeavors of businesses significantly contributes to the economic vitality of Quebec’s diverse regions.
Point Laz specializes in the design and marketing of monitoring tools for underground mining operations, including solutions for mine shaft scanning that are instrumental in enhancing production and bolstering worker safety.
The Lazaruss platform automates mine shaft inspections using advanced 3D scanning technology and 360-degree visuals to meticulously document structural integrity.
The objective of the project, supported by CED, is to commercially evolve this 3D laser scanning technology tailored to the mining sector, thereby facilitating the creation and maintenance of 14 jobs within the Québec region.
The Government of Canada is resolute in its commitment to supporting enterprises and organizations that serve as foundational pillars within their communities.
The economic ascendance of Quebec depends on organizations anchored in the regional economy, which serve as crucial assets for cultivating a sustainable and inclusive economic framework.
Statements
Small and medium-sized enterprises are a cornerstone of our communities and a pivotal force driving Canada’s economic growth strategy.
By enhancing their marketing capabilities, we are empowering these entities to innovate, expand, and excel in an increasingly competitive global landscape.
CED’s investment in the Point Laz initiative fortifies Québec’s industrial framework, stimulates the creation of quality jobs, and establishes the region as a nexus of advanced mining technology, stated the Honourable Mélanie Joly, Member of Parliament for Ahuntsic–Cartierville, Minister of Industry and Minister responsible for CED.
Our government is steadfast in its resolve to advocate for innovative initiatives that bolster the prosperity of our communities.
Today, I commend the groundbreaking advancements made by Point Laz, whose avant-garde solutions are modernizing practices within the mining sector.
The Lazarus scanner exemplifies local innovation and technical excellence. This tool will enhance efficiency and safety in mining operations, generating economic benefits that resonate throughout the entire region, she continued.
The financial support received underscores the value of our technology and the vision of our team. These resources will facilitate a swift transition to enhanced innovation capacity and enable us to deliver impactful solutions to our international clientele.
We are proud to elevate Canada’s profile on the global stage and to contribute positively to the mining industry, asserted Alexandre Grenier, CEO and Founder of Point Laz.
Key Facts
- Funding has been allocated under CED’s Regional Economic Growth through Innovation program, aimed at supporting entrepreneurs who leverage innovation to grow their businesses and boost competitiveness, as well as regional economic stakeholders fostering an entrepreneurial climate conducive to innovation and growth across various regions.
- Small and medium-sized enterprises constitute 99.7% of businesses in Quebec and account for 50% of the province’s GDP.
- CED serves as a vital federal partner in the regional economic development of Quebec, with 12 regional business offices dedicated to aiding businesses, supporting organizations, and fostering economic growth throughout Quebec.
Source link: Finance.yahoo.com.
