Backgrounder: Financial assistance for three organizations supporting innovative Montréal SMEs

Montréal, Quebec, October 22, 2020 – Canada Economic Development for Quebec Regions (CED)

The following information is in addition to the news release issued on October 22, 2020, on CED’s financial assistance, recipient organizations and their respective projects.

Overview

• 6 projects supported by CED
• $4,999,100 in CED financial contributions

Details

Centre d’entreprises et d’innovation de Montréal (CEIM)

Founded in 1996, CEIM is an incubator for innovative businesses in the digital technology, artificial intelligence, new media, green and manufacturing technologies and life sciences sectors. It helps to create and develop new high-performance businesses and generate sustainable jobs by offering specialized management consulting and related services. CEIM offers personalized services, over a period of one to three years, based on the specific needs of each project: market validation, strategic and financial planning, funding and strategic partnership research, human resources management, sales mentoring, and marketing and export support. CEIM organizes many information and networking activities accessible to all entrepreneurs. It owns a 57,000-square-foot building in the Quartier de l’innovation, renting offices as needed to SMEs, with favourable terms. The CEIM team is seasoned, multidisciplinary, drawn from the business and entrepreneurial communities, and complemented by a network of external advisors. CEIM also relies on a dozen private and public partners.

Three non-repayable contributions for CEIM

CEIM received an initial non-repayable contribution of $1,740,000 in 2017 under the REGI program to create and launch innovative technology businesses in the Greater Montréal region. The contribution focused mainly on ongoing mentoring activities by supporting the salaries and professional fees of advisors offering direct services to SMEs, either through mentoring or specialized advice.

CEIM has received a second non-repayable contribution of $1,740,000 from CED, with the 2017 agreement being renewed in 2020 up to 2023. This second contribution was unveiled previously during an announcement on innovation.

A third round of financial assistance from CED will enable CEIM to coach technology businesses in the pre-start-up and start-up phases to maximize their development. The project aims to fund ongoing activities through support for the salaries and professional fees of advisors offering direct services to SMEs, with a focus on international marketing. This non-repayable contribution of $494,100, granted under the REGI program, will enable the organization to hire a full-time advisor, establish a coaching program dedicated to exporting and organize four missions abroad starting in autumn 2021.

Centre de l’entrepreneurship technologique de l’ÉTS (Centech)

Located on the campus of the École de technologie supérieure (ÉTS) in Montréal, the Centre de l’entrepreneurship technologique de l’ÉTS (Centech) is an incubator that propels technology start-ups with strong growth potential forward. It supports the development, validation and transformation of projects to become business successes nationally and internationally. With a team of 15 people, entrepreneurs in residence and some 100 partners, the NPO—created in 1996—accelerates the start-up of high-tech businesses and stimulates innovation within established businesses. Its priority links with the ÉTS enable start-ups to access leading-edge resources, facilities and equipment. Since 2018, Centech has also welcomed, within its open innovation units, large businesses interested in designing new products while drawing on the agility of Centech’s start-ups and entrepreneurial ecosystem (Collision Lab).

Two non-repayable contributions for Centech

Centech received a $450,000 non-repayable contribution from CED in 2017 to help it pursue its mandate with its target clientele, mentoring and fostering innovative businesses with high-level technology and strong potential to market internationally. The support will focus more specifically on Centech’s ongoing activities, including the organization’s salaries and benefits. This contribution is granted under the REGI program.

Centech has received a second non-repayable contribution of $450,000 from CED, with the 2017 agreement being renewed in 2020 up to 2023.

Bonjour Startup Montréal

Founded in September 2018, Bonjour Startup Montréal (BSM) is a non-profit organization supported financially by the Ville de Montréal and the Ministère de l’économie et de l’innovation. Its mission is to create the maximum social and economic impact for the city by accelerating the growth of the Montréal start-up community, stimulating innovation and mobilizing various ecosystem players. The organization is dedicated to rallying the Montréal start-up ecosystem, targeting its shortcomings and positioning the city among the most dynamic ecosystems in the world. BSM heads many initiatives, including Startup Radar, the first directory of Montréal start‑ups; the Portrait annuel de l’écosystème startup; and a complete mapping of the ecosystem. BSM also organizes activities to support entrepreneurs and mobilize partners (accelerators, incubators, investors, supporting organizations), including webinars, missions during international events and thematic working groups bringing together dozens of member organizations of the Montréal start-up ecosystem.

BSM has received a $125,000 non-repayable contribution granted under the REGI program. The project aims to launch the first edition of the “Initiative d’innovation ouverte,” which aims to encourage business collaborations between large organizations and start-ups in the context of the recovery from the global COVID-19 pandemic. CED’s assistance will focus primarily on ongoing activities by supporting the salaries and professional fees of advisors offering services directly to businesses. The project will enable the creation of three jobs.