Montréal is abuzz with excitement as the incubator-accelerator Centech secures a hefty $4.5 million in provincial funding. This financial injection aims to propel early-stage startups in the deep tech and medtech sectors towards commercial success, bridging the crucial gap between groundbreaking research and market-ready products.
Centech, nestled in the heart of Montréal, is gearing up to make a significant impact on the innovation landscape by establishing an office at Ax-C, an upcoming innovation hub that promises to be a game-changer within the tech ecosystem. The former trading floor of the Montréal Exchange will soon be home to this dynamic space where creativity and entrepreneurship converge.
This substantial investment comes as part of Québec’s ambitious $7.5-billion innovation strategy led by the Ministry of Economy, Innovation, and Energy (MEIE). With a vision stretching until 2027, this strategic initiative sets out to nurture cutting-edge technologies and drive economic growth through innovation.
Marjorick Foisy, Centech’s executive director, exudes confidence in the organization’s mission amidst this new wave of support from MEIE. In his statement in French, he emphasizes how this funding
“reinforces our capacity”
to champion innovative projects with high potential while propelling forward state-of-the-art technology. Foisy envisions a digital transformation across key sectors in Québec that will not only spur technological advancements but also pave the way for job creation and economic prosperity.
Minister Christopher Skeete underlines the significance of this funding infusion by highlighting its role in safeguarding Québec’s tech ecosystem’s long-term competitiveness. By empowering Centech to nurture budding startups and foster innovation, Québec aims to solidify its position as a global player in technology and entrepreneurship.
Centech’s structured support programs offer a lifeline for startups embarking on their entrepreneurial journey. The Acceleration Program serves as a launchpad with its intensive 12-week curriculum encompassing mentoring sessions and robust group workshops, providing invaluable guidance along the way.
For those ready to take their innovations to market, Centech’s Propulsion Program steps in with backing from National Bank. This two-year program equips startups with essential resources such as grants up to $15,000 and access to seasoned entrepreneurs-in-residence who provide mentorship tailored for success.
Recognized internationally for its excellence, Centech earned its spot among the top university incubators globally according to UBI Global rankings – solidifying its reputation as a breeding ground for innovative ventures. Every year, over 140 promising startups benefit from Centech’s comprehensive programs designed to fuel growth and accelerate their path towards commercialization.
Since its inception in 1996 at École de technologie supérieure (ÉTS), Centech has been at the forefront of driving innovation by bridging academia with industry needs seamlessly. Through initiatives like open innovation hubs like Collision Lab launched in 2018 – which facilitates collaboration between emerging startups and established corporations like Bell and Thales – Centech continues to catalyze transformative partnerships that shape tomorrow’s technological landscape.
The upcoming relocation of Centech’s office within Ax-C signals not just physical movement but also symbolizes an exciting new chapter for fostering collaboration among entrepreneurs within an environment teeming with potential synergies. Backed by key players such as Bell, Desjardins, Google, FTQ (Fonds de solidarité de Québec), Ax-C stands poised to emerge as a vibrant coworking space—a melting pot where ideas flourish into tangible innovations.
As Montréal prepares for these groundbreaking changes ushered in by investments like these into organizations such as Centech—an integral cog driving Québec’s innovation engine—the future looks brighter than ever before for deep tech and medtech startups seeking avenues for growth amid an ever-evolving technological landscape.
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