Tech solutions company Portage CyberTech receives $8 million loan

On May 5, the Quebec Government granted cybersecurity specialist Portage CyberTech an $8 million loan under the ESSOR program to support the tech company’s international sales and growth in Gatineau.

The investment was announced during a press conference held at the University of Quebec in the Outaouais (UQO) which had in attendance MNA for Hull Suzanne Tremblay, Minister of Culture and Communications Mathieu Lacombe, Investissement Quebec and Portage CyberTech representatives, just to name a few.

The loan was granted through the ESSOR program which is led by Investissement Quebec. The initiative is aimed at Quebec companies and entrepreneurs who are seeking financing to accelerate the realization of an investment project, to increase their company’s acquisition of new technologies and to increase the presence of Quebec-based companies on a global scale.

Portage CyberTech has been committed “to connecting people and organizations through trusted technological solutions” throughout North America, notably Quebec for 30 years. This new investment is projected to create 217 research development, marketing and customer service jobs in the Outaouais by 2024.

“By backing Portage CyberTech, we are supporting the development of Quebec expertise in cybersecurity. This is an essential aspect of enabling local businesses to carry out a sustainable and effective digital transformation,” said Pierre Fitzgibbon, Minister of the Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Metropolis and the Montreal Region.

The investment will help solidify Quebec as a leader in the cybersecurity field with aims to “implement the best practices in the area of personal information protection.”

Photo cap: As pictured, Murielle Laberge, Pierre Fitzgibbon, Suzanne Tremblay, Daniel Silverman, Bruce Lévis, Patrick Drolet, Virginia Wilson, Mathieu Lévesque and Louis-Philippe Tremblay, following the press conference on May 5. Officials from Portage CyberTech, the City of Gatineau and Investissement Quebec were all in attendance to announce the $8 million loan. Photo credit: Djeneba Dosso