The governments of Canada and Quebec are financing a Gatineau-based firm in hopes of fending off the next generation of cyber attacks.
Cybersecurity firm Crypto4A Technologies will receive roughly $322,000 in repayable grants from the feds and $190,000 in financial assistance from the Quebec government, cobbled together from a variety of funding programs. The more than $500,000 in financing will help the Gatineau-based enterprise take the firm's product to international markets.
Crypto4A develops security products using cryptographic techniques to resist cyber attacks. The firm counts Ottawa’s Capital Angel Network as an early-stage investor.
The government funding is earmarked for intellectual property protection, demonstration and commercialization purposes.
"Competitiveness and exports by innovative businesses are vital to the prosperity of the Outaouais region and Quebec as a whole,” said Gatineau MPP Stéphanie Vallée in a statement.
“We are therefore proud to support the activities of Crypto4A Technologies because we want it to become even more productive and competitive, thus further strengthening regional economic vitality."