Zeal Motors Receives Government Backing
The new innovative start-up received $573,300 in financial assistance from the Governments of Quebec and Canada to increase its growth and business development in Canadian and U.S. markets.
Zeal Motors has developed a unique line of industrial off-road vehicles that meet the requirements of energy providers and mining companies.
Many members and ministers of the government showed support for the company. The Government of Quebec granted the start-up $54,300 to assist in implementing an international marketing strategy while Investissement Quebec promised an additional $150,000 loan.
“Exports afford Quebec manufacturing companies infinite possibilities for growth and expansion. Zeal Motor understands this and, thanks to its marketing strategy, it will be able to strengthen its position across Canada and in the United States,” said Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for the Lanaudière region
The Government of Canada has also shown support by granting the business $369,000 in financial assistance. The National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) also provided a non-repayable contribution of $150,000 to support Zeal Motor in developing a prototype model of this new type of vehicle.
“By helping companies invest in equipment and machinery that will make them more efficient and by encouraging marketing and market development products, the Government of Canada is remaining true to its commitments. Our goal is to stimulate expansion, innovation, and export,” said the Hon. Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
CED granted Zeal Motor a repayable contribution of $219,000 which allowed the company the resources to finalize product development (final drawings, certification, patent) and launch their marketing strategy.