The Federal Government announced its funding contribution of up to $ 6.2 million over the next five years to support the launch of CEIM’s Québec Innovation project, serving as a key element of this project is an innovative partnership between CEIM and McGill University. The project will provide McGill student and faculty entrepreneurs with access to an array of support, expertise and resources to incubate and grow their start-ups.
“Our government is committed to creating the best business environment possible for Canadian small and start-up businesses to grow and prosper,” says Maxime Bernier, Minister of State (Small Business and Tourism) (Agriculture). “Today’s investment in the Centre d’entreprises et d’innovation de Montréal will help ensure Quebec’s promising innovative businesses have the services, guidance and resources to become internationally competitive while creating jobs in Montreal and across Quebec.”
With this CEIM/McGill partnership, forged through Montreal’s Quartier de l’innovation (QI), McGill innovators will gain access to coaching and consultation in various aspects of the commercialization process, including strategic planning, raising capital, identifying laboratory or production facilities, structuring legal and financial agreements, developing intellectual property and initiating domestic and international sales, among others.
This agreement is made possible with financial support to CEIM from the Canada Accelerator and Incubator Program (CAIP). CAIP is delivered by the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) and provides support in the form of non-repayable contributions to a small and select number of best-in-class accelerators and incubators.
“Creativity, innovation and entrepreneurship are at the core of our economic development. This government of Canada program will help us better channel Quebec entrepreneurs’ ideas, passion, ambition and tenacity to build successful companies” said Hélène Desmarais, Chairman of the Board and CEO of CEIM. “Our partnership with McGill University will enable us to combine our efforts and resources to commercialize world class technologies.”
“We thank the Canadian government for their support of this partnership which will help to bring innovative ideas to the marketplace,” said McGill Principal Suzanne Fortier. “One of our goals is to encourage innovation and entrepreneurship on campus, linking McGill teams with appropriate partners to transform innovative breakthroughs into solutions benefitting the local, national, and global communities”.
The partnership between CEIM and McGill builds on existing initiatives on the McGill campus which have supported student and faculty innovation over the years, such as the Dobson Centre for Entrepreneurship, McGill University Business Engagement Centre, the Office of Sponsored Research, and the McGill Innovations Catalyst in Engineering and the Faculty of Science’s Fessenden Prizes and Fessenden Professorships to name just a few. This will also reinforce the Quartier de l’innovation entrepreneurial ecosystem.
McGill University and CEIM will also build a network of entrepreneurs and business leaders who can be called upon to help jump-start the commercialization process by bringing their talents and experience to the start-ups served by this partnership. The expertise and experience inherent in this network will not only help early-stage start-ups expand their reach, it will also enhance McGill’s innovative capacity and build important bridges into key sectors of the innovation economy.