The Quebec Technology Association (AQT) has made the Quebec Minister of Finance and Revenue aware of the critical importance of ensuring that budget measures take the realities of the ICT sector into consideration.
“We believe it is essential to develop measures that address the greatest challenge facing our industry today – bringing innovations to market, stated Nicole Martel, CEO of AQT. Urgent action is needed to achieve new heights in growth.”
Quebec Government support over the last decade, provided through R&D assistance programs, has allowed businesses in our sector to develop solutions that have helped them establish a global reputation for innovation. However, if a company is to succeed on the market, it must be prepared to invest several times more in the marketing phase than it did in the R&D phase.
“Sixty percent of companies never make it to the growth phase. This means that, in most cases, start-up funding provided by the Quebec government and both private and institutional investors leads to a dead end!” explained Michel Lacasse, Chairman of the AQT Board of Directors.
Consequently, in its capacity as industry spokesperson, the AQT recommends the following measures for both local and international markets:
- The introduction of fiscal measures to help bring innovations to market would allow companies to optimize the impact of private and public funding by developing and deploying sustained marketing strategies, and investing in marketing and sales.
- These measures could include R&D credit extensions or even venture loans to maximize direct and indirect benefits for taxpayers.
The ICT industry is a jewel of the Quebec economy. Companies in this sector are active across every sphere of economic activity and employ more than 130,000 people.