Thank you, Mr. Simoneau, for that introduction, and my thanks as well to Raymond Bachand, Minister of Economic Development, Innovation and Export Trade; Jean-René Halde, BDC's President and Chief Executive Officer; and to Sylvie Pinsonnault, Director General of FIER Partenaires, for inviting me to speak today.

As Minister of Industry and Minister responsible for BDC, I am pleased to announce BDC's significant contribution in terms of investment dollars and management of the GO Capital Fund to support Quebec technology firms.

This initiative responds to the need for pre-seed financing for Quebec businesses in the technology sector. I congratulate BDC and its partners for this support, which advances my government's efforts to develop a more productive economy by investing in science and technology.

Today's announcement represents the collaboration and investment of all stakeholders — governments and the private sector.

GO Capital would not be possible without this type of collaboration. Partnerships are essential, and it is vital that we continue with this approach.

There is no doubt about the importance of science and technology in our lives and to our future prosperity. In fact, in the 2006 budget, our government committed to spend $5.2 billion in direct support of R&D.

Other measures announced in Budget 2006, such as reductions in corporate taxes, underscore the federal government's commitment to providing the right economic environment and fundamentals to support R&D in the private sector.

The last budget also included a commitment to create a science and technology strategy.

I am currently working with the Minister of Finance and consulting with stakeholders to develop this action plan for science and technology.

Our current challenge in science and technology is to improve the application of Canada's knowledge and talent to create a competitive advantage for Canadian firms.

We need to sustain our strong record of research excellence. Today's announcement will help Quebec businesses overcome this challenge.

It is people and projects, like this one we are announcing today, that will help us meet our goals of encouraging excellence in research and transforming innovative ideas into opportunities.

Thank you again for the opportunity to speak to you today.

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Date Modified: 2006-11-21 Important Notices