PROMPT’s innovation support program for business productivity has a budget of $10 million to encourage transition in manufacturing companies.
Montreal, April 3, 2023 –
PROMPT, an industrial research cluster (RSRI) specialized in the new technologies sector, has been mandated by the Ministère de l’Économie, de l’Innovation et de l’Énergie du Québec (MEIE) to identify the improvement, modernization and innovation needs of Quebec companies in the manufacturing sector, in order to accelerate their development and help them boost their competitiveness on the national and international scene.
An envelope of $10 million has been entrusted to PROMPT to support innovation initiatives by small and medium-sized manufacturing companies in the 2023-2024 fiscal year. Thanks to this financial support and the acceleration of modernization and technological development projects, the economic spin-offs of the MEIE-led Performance Productivity Initiative are expected to reach $27 million, representing a significant return on investment for the Quebec government.
Experience and trust from PROMPT
The Quebec government mandated PROMPT because of its recognized experience in supporting technological innovation in companies: for over 20 years, the organization has supported collaborative research by funding numerous innovation projects in various technological sectors, such as cybersecurity, artificial intelligence, quantum computing, machine learning and microelectronics, among others. Many Quebec companies have benefited from these programs, in sectors as diverse as transport, aeronautics, logistics, health, agriculture, finance and many others. In fact, over the past three years, PROMPT has financed more than 250 projects with a total value of $180 million, including a PROMPT contribution of over $60 million.
PROMPT’s “Innovation for Business Productivity” program offers a dedicated support service to Quebec manufacturing companies, helping them to implement digital transformation innovation projects in three areas: awareness-raising, consulting support throughout the manufacturing innovation project cycle, and technological support. Worth nearly $27 million, this initiative will raise awareness among 5,000 companies and support 40 in their transformation.
Collaborations and partnerships with manufacturing companies
PROMPT will work closely with manufacturing companies to identify their digital transformation needs, thanks to its network of expert partners working in different regions of the province.
Companies will be able to submit their projects under theBusiness Productivity Innovation Support program this summer 2023. More information will be provided during the official launch of the program, the date of which will be announced shortly.Credits: Prompt
“This initiative is a superb support and development opportunity for Quebec manufacturing companies needing to undertake digital transformation initiatives, as well as those seeking to identify production or management processes that can be greatly improved thanks to new technologies, said Madeleine Jean, Interim Executive Director at Prompt. We’re very proud of the confidence the Quebec government has placed in us, knowing that the Productivity Performance Initiative will play a major role in modernizing and making the province’s manufacturing sector more competitive, and thus in Quebec’s economic and technological development. We see it as a decisive innovation gas pedal for our manufacturing industry. We’re delighted to be able to provide even greater support to this vital sector, and to help it identify new, sometimes unsuspected, technological opportunities.”
” The digital transformation of our companies is essential to ensure their growth and increase our productivity. Digitization is necessary to deal with the labor shortage, which is why this deployment is so important. With our new partners, we’re covering new sectors, and the latest budget gives us the funds we need to continue along this path,” said Pierre Fitzgibbon, Minister of the Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Greater Montreal Area.
About Prompt
PROMPT, based in Montreal, is an industrial research cluster (RSRI) specializing in the new technologies and information technologies sector. Through its support and Funding Programs (artificial intelligence, cybersecurity, quantum, e-health, digital technologies, etc.), PROMPT, a trustee of the Ministère de l’Économie et de l’Innovation et de l’Énergie, fosters collaborative research between the entrepreneurial and scientific worlds, and drives Quebec innovation to increase Quebec’s competitive edge worldwide.
Media contact
Simon Faucher
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