Montréal – The governments of Canada and Quebec, along with the Ville de Montréal, are granting a total of $48 million in financial assistance to the École de technologie supérieure (ÉTS) to support the creation in Montréal of Ax-C, a space for innovative entrepreneurship that will be international in scope. It will be located strategically in the heart of the metropolis’s business centre and close to universities to accentuate the entrepreneurial dynamic in Quebec, help attract talent, and promote the establishment of business relationships. This project is valued at over $100 million.
The Government of Canada is granting a non-repayable contribution of $7 million under CED’s Regional Economic Growth through Innovation program, to develop the space and purchase specialized equipment. For its part, the Government of Quebec is providing a total of $38.5 million in grants through the 2022-2027 Québec strategy to support research and investment in innovation. In addition, the Ville de Montréal is granting $2.5 million, including $1 million for upgrades and $1.5 million to cover operating costs for the next three years. The city’s support is part of Stratégie Montréal 2030, which emphasizes innovation and collaboration as key drivers of the economy of the future.
The Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions (CED), Pascale St‑Onge, the Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development, and Minister Responsible for the Metropolis and the Montréal Region, Pierre Fitzgibbon, and the Head of Economic and Commercial Development, Knowledge, Innovation and Design on the Ville de Montréal’s Executive Committee, Luc Rabouin, made the announcement today.
The aim of the new Espace Ax-C is to bring together under the same roof Quebec’s ecosystem of innovative businesses and a range of organizations and services essential to their development. It will thus provide a meeting space for events, incubation and acceleration services, work areas, infrastructure, and specialized laboratories with the purpose of accelerating the commercialization of innovations by start-ups and raising Quebec’s profile internationally.
Of note, Centech Executive Director Richard Chénier will act as strategic advisor to formulate recommendations and suggestions regarding the services to be offered in this space. Given his experience with start-ups, he will be able to advise the Government of Quebec on making Ax-C a central entrepreneurial space in Montréal whose reach extends right across Quebec and around the world.
“It is with great pride that I announce our commitment to the École de technologie supérieure (ÉTS) to create the new Ax-C innovative entrepreneurial space. With assistance from the Government of Canada and other involved partners, Montréal will be able to establish a new innovation hub that is international in scope, in addition to supporting the development and quality of Quebec’s entrepreneurship. The ÉTS will be able to continue to assert itself as a reference resource for young entrepreneurs interested in launching a business, while also stimulating Quebec’s ecosystem of innovative technology businesses. By helping them equip themselves with what they need, together, we will be able to promote a stronger, more resilient, and more sustainable economy. Congratulations to all on this promising project!” – Pascale St-Onge, Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions