March 29, 2021
Province Announces Successful Innovation Growth Program Projects
– – –Program Commits More Than $270,000 to Help Small Businesses Commercialize Innovative Products and Processes: Eichler
The Manitoba government is investing $272,500 in four small businesses through the Innovation Growth Program (IGP) to support the development and commercialization of new, innovative products and services, Economic Development and Jobs Minister Ralph Eichler announced today.
“The Innovation Growth Program provides support to local businesses that are pursuing innovation and new opportunities, building on Manitoba’s many economic strengths,” said Eichler. “We are investing in four Manitoba companies to help create new jobs and stimulate economic growth in our province.”
The latest recipients of the Innovation Growth Program are:
• D.B.I Technologies;
• Power HV Inc.;
• Vexxit Inc.; and
• VidDay.com.
Eichler noted these four local companies are forecasting the addition of 177 new full-time jobs and $13.6 million of export sales within five years.
“The IGP will give VidDay the support to implement several product changes based on user feedback, enhance software and scale sales globally, while hiring more local talent to join our growing company with a mission to make a billion people smile,” said Denis Devigne, president and co-founder of VidDay.com, which launched in 2015 as an online service that collects and edits video messages and photos into video montages to give as gifts.
The minister announced the latest Innovation Growth Program recipients through a VidDay.com video montage that can be viewed at https://share.vidday.com/o-nnc580.
The Innovation Growth Program launched in June 2019 and provides up to $100,000 in 50-50 cost-shared, non-repayable financial assistance to Manitoba-based small and medium-size enterprises to assist in developing and commercializing new and innovative products and processes. To date, the province’s total investment of up to $1.7 million for 23 small and medium-size businesses is projected to create more than 900 jobs within five years, Eichler noted, adding the program is a key element of Manitoba’s Economic Growth Action Plan.
More information about the Innovation Growth Program is available at www.gov.mb.ca/jec/busdev/financial/igp/index.html. Small businesses are encouraged to apply for the current intake by June 15.
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