Organization: Investissement Quebec

The Short Report, May 13, 2020: Public trust in science rising; new COVID-19 advisory councils created; OneEleven ceases operations; and more

COVID-19 NEWS Canadians’ trust in doctors, scientists and the government has increased since the cornovirus pandemic began, finds public opinion polls from January and repeated on May 1 and May 2. Conducted by Proof Strategies CanTrust Index of Ottawa, the survey found that 76% of Canadians trusted doctors and 70% trusted scientists. The follow up…

Eddyfi in Quebec expands global reach with back-to-back acquisitions

Eddyfi has acquired two overseas companies that expand the Quebec City-based tech firm’s capability and reach in the fest-growing global market for non-destructive technologies and services. More than $600 million in private equity and debt financing was raised to complete the acquisitions and pursue other strategic opportunities.

The Short Report, February 12, 2020: Canada takes a step toward joining Horizon Europe; NSERC funding for basic research takes a dive; Google pursues rapid Canadian expansion

Microsoft is partnering with Invest Ottawa and the Bayview Yards business accelerator to offer technical and business resources to entrepreneurs. Called Microsoft for Startups, the program gives innovative Ottawa companies access to its cloud services, enterprise sales team and partner ecosystem. – Ottawa Matters Canada Infrastructure Bank CEO Pierre Lavallée signalled the bank is considering an investment…

The Short Report, July 10, 2019: Nuclear power, future skills, health tech

A planned $100-million infusion for Alberta’s artificial intelligence sector — promised in February by then-governing NDP leader Rachel Notley — is on hold, as Premier Jason Kenney’s United Conservative Party scrutinizes the investment. Edmonton-based AI hub Amii (Alberta Machine Intelligence Institute) was slated to to use some of the funds to open a Calgary office, but…

Quebec tools company gets federal, provincial support to acquire equipment

Clortech Tools, a small and mid-sized family-owned company in Quebec, has received a total of $812,500 from the federal and provincial governments to add to their project investment to acquire equipment that will increase their production capacity. A repayable contribution of $250,000 will come  from the Canada Economic Development for Quebec Regions. The Quebec government…

Editorial – 30-10

Is Canada finally getting its innovation house in order? Two recent developments offer encouraging signs that federal (and provincial) policy is beginning to address past shortcomings at both ends of the innovation spectrum, acknowledging the importance of fundamental research and ensuring that rapidly expanding tech firms grow while remaining in Canada.

XPND capital raises $75 million

XPND Capital has closed its second fund with $75 million from institutional and private investors. The XPNDCROISSANCE Fund is aimed at transforming Quebec-based companies in traditional sectors such as transportation into innovative businesses by acquiring and implementing leading-edge technologies. Investments to date include Téo, an electric taxi project and Lion Bus, a manufacturer of electric…

AmorChem supports orphan drug development

Montreal-based venture capital fund AmorChem LP is investing in the research of Dr Pascal Chartrand to develop a therapeutic treatment for myotonic dystrophy, a rare hereditary disease for which there is no current cure. AmorChem will provide an undisclosed amount of funding to Univalor, the technology transfer and commercialization arm of the Univ of Montreal,…

Quebec government invests $50 million in clean tech VC

The Quebec government has invested $50 million in the privately run Cycle Capital Management (CCM) venture capital fund aimed at clean tech, with the potential for another $25 million if the fund can secure enough matching industry funding. The fund — Cycle Capital Fund III — targets companies at the commercialization stage that are looking…