Montréal’s tech incubator-accelerator, Centech, has hit the jackpot with a hefty $4.5 million injection from the provincial government. This funding aims to propel early-stage startups in deep tech and medtech towards successful commercialization, bridging the gap between groundbreaking research and market-ready products.
Centech is making strategic moves by establishing an office at Ax-C, an upcoming innovation hub located in the former trading floor of the Montréal Exchange. This initiative aligns with Québec’s broader five-year, $7.5-billion innovation strategy set to expire in 2027.
The Ministry of Economy, Innovation, and Energy (MEIE) plays a pivotal role in channeling this financial support to fuel cutting-edge technology projects within Québec. Marjorick Foisy, Centech’s executive director, highlighted the significance of this boost by stating,
“The financial support from the MEIE reinforces our capacity to support high-potential innovation projects while stimulating the emergence of cutting-edge technology.”
Christopher Skeete, responsible for MEIE’s innovation portfolio, emphasized that this infusion of funds will fortify Québec’s tech ecosystem’s long-term competitiveness.
Centech stands out for its structured support programs catering to startups at different stages of growth. The Acceleration Program kickstarts the journey with a 12-week intensive course offering mentoring sessions and group workshops to nurture budding entrepreneurs.
Graduates progress into Centech’s renowned Propulsion Program backed by National Bank—a two-year initiative empowering startups to bring their products to market successfully. Entrepreneurs-in-residence provide invaluable guidance as startups navigate the complexities of commercializing their innovations.
Recognized globally as one of UBI Global’s top university incubators in 2023, Centech continues to nurture over 140 high-growth potential startups annually through its transformative programs.
Founded in 1996 at École de technologie supérieure (ÉTS), Centech serves as a vital link between academic research breakthroughs and tangible market offerings. Its holistic approach encompasses open innovation initiatives, robust commercialization strategies, and impactful social projects aimed at fostering technological advancement.
In a bid to further expand its footprint within Montréal’s thriving tech landscape, Centech is gearing up for a significant move—setting up shop at Ax-C alongside esteemed partners like Bell and Google. This collaborative space promises to be a vibrant hub where innovators can converge, collaborate, and drive forward Québec’s tech evolution.
With deep-rooted commitment and substantial backing from key stakeholders, Centech is poised not only to elevate Québec’s position on the global tech map but also to cultivate a dynamic ecosystem that nurtures creativity and fuels economic growth.
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