Montreal, Quebec, November 12, 2024 – Centech has been selected by Canada Economic Development for Quebec Regions (CED) to receive a non-repayable contribution of $2 million, spread over the next four years (2024-2028). The purpose of this assistance is to support the development of young innovative companies, generating tangible and lasting economic benefits across all Quebec regions.
Launched in February 2024, CED’s call for proposals aimed to allocate an envelope of $16 million over four years to Quebec business incubators and gas pedals meeting the defined criteria. Among the 13 organizations selected, Centech was selected for the excellence of its regional development project, its partnerships with key players in the entrepreneurial ecosystem, and its approach to sustainable development, equity, diversity and inclusion.
One of the main reasons for this selection is Centech’s commitment to having a concrete impact on the different regions of Quebec. Thanks to this funding, Centech will be able to make its services more accessible, facilitating startups’ access to specialized resources and expertise, regardless of their location, in order to stimulate innovation and competitiveness throughout the province.
“We are deeply grateful for the financial support provided by the Government of Canada. This funding is essential to strengthening our impact across Quebec. Our goal is to ensure that all innovative companies across Quebec, whether in urban or regional settings, have access to the resources they need to grow and succeed. We are convinced that economic development must be inclusive and spread across all regions of Quebec in order to maximize its benefits for the province as a whole.”
– Marjorick Foisy, Centech General Director
“Our government has always been committed to boosting regional economic development through innovation. That is why I am delighted with this new support from CED for Centech and 12 other Quebec organizations offering incubation and acceleration services. Initiatives such as this one generate major economic spin-offs in the different regions and have a direct impact on communities, while also focusing on a greener economy. Emerging businesses are key assets in building an economy that is stronger, more resilient, more sustainable and more inclusive. By mobilizing together, we will enable them to reach their full potential.” – The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
This financial support testifies to the growing vitality of Quebec’s entrepreneurial ecosystem, and supports Centech’s efforts to promote innovation, strengthen international competitiveness and foster the growth of startups, thereby contributing to the economic dynamism of Quebec as a whole.
For more details, consult the Government of Canada press release here:
Centech is an ecosystem that propels technological innovation and entrepreneurship projects from science and engineering. Open to all, Centech was founded in 1996 by the École de technologie supérieure. Thanks to its Acceleration and Propulsion programs, Centech acts as a real instrument of growth, thus creating one of the largest concentrations of technology entrepreneurs in the start-up phase in Quebec and Canada. Since 2018, Centech has its own open innovation hub, the Collision Lab, where large companies are supported in their open innovation initiatives in collaboration with technology startups.