Quebec institutional investor Caisse de dépôt backs Montreal AI accelerator

The Montreal Institute for Learning Algorithms (MILA) and Caisse de dépôt et placement du Québec (la Caisse) have partnered to accelerate development of AI in the region. With backing from la Caisse, MILA is establishing a new Espace CDPQ | Axe IA in a converted 370,000-sq.-ft. factory called O Mile‑Ex Complex in Montreal’s Little Italy, just up the street from the new offices of the large AI-commercialization firm Element AI. The complex will host AI startups from various sectors with projects that reflect MILA’s values. Participating companies are required to bring AI products to market on an accelerated timeline with help from CDPQ | Axe IA and participate actively in the MILA community. Other selection criteria included short, medium, and long-term R&D ambitions, and synergy with Montreal’s AI ecosystem.  MILA is one of three institutes that form the core collaboration underpinning the Pan-Canadian AI Strategy.