Fonds de solidarité FTQ and Inno-centre Team Up to Encourage 30 Québec SMEs to Innovate

The organizations will support high-potential businesses through a new joint initiative

Highlights

• Coaching for 30 SMEs with revenues of $2 million and more
• Initiative funded in part by the NRC's CAIP program
• Access to 300 hours of professional services over 6 months financed by CAIP, Inno-centre and the Fonds de solidarité FTQ
• Available to companies in all sectors of the economy except biotechnology

MONTRÉAL and QUÉBEC CITY, Feb. 23, 2017 /CNW Telbec/ - Québec SMEs are seriously lagging in innovation, a situation that will hinder their ability to grow and create jobs in the economy of the future. In an effort to help them get ahead, the Fonds de solidarité FTQ and business accelerator Inno-centre are teaming up to offer 30 Québec SMEs custom coaching focused on innovation. This new joint initiative makes perfect sense for two organizations that consider innovation a priority.

Concretely, each company (already selected) will receive 300 hours of professional services worth $100,000. This initiative is funded in part by a contribution from the Canada Accelerator and Incubator Program (CAIP) of the National Research Council Canada (NRC). The Fonds, Inno-centre and various consulting firms will work on making these SMEs aware of the importance of innovating and help them implement practical solutions in this regard.

With this initiative, the Fonds and Inno-centre are seeking to show that innovation is accessible to all companies and can improve their competitiveness.

Quotes
"Innovation can create entirely new jobs, markets and industries that never existed before. The collaboration between Le Fonds and Inno-Centre will enable Quebec entrepreneurs to turn ideas into solutions, science into technologies, skills into jobs and start-up companies into global successes. This partnership will provide entrepreneurs with the expert advice they need to bring new products and services to market more quickly. In the process, they will create well-paying middle-class jobs. That's how innovation leads to a better Canada.»
The Honourable Navdeep Bains
Minister of Innovation, Science and Economic Development

"The reason for this partnership between the Fonds and Inno-centre is to give Québec businesses a wake-up call. They need to quickly catch up in terms of innovation. There's an urgent need to act. Thanks to this initiative, they will become aware of the importance of innovating and be able to launch projects that will make it easier for them to take up the challenges of the global economy of the future. The selected companies will also get advice from entrepreneurs in their industry."
Alain Denis
Senior Vice-President, Innovation, Fonds de solidarité FTQ

"Often hesitant to open their doors to consulting services, SMEs that want to adopt innovative solutions to secure their future will be accompanied by the vast combined network of our two institutions. With a risk capital investor such as the Fonds de solidarité FTQ, which is sponsoring the participating SMEs, Inno-Centre is adopting a unique approach. Inno-centre's advisors are not career consultants, but rather people with experience in key business positions. They are business people who serve other business people."
Claude Martel
President, Inno-centre 

About Inno-centre
With over 75 world-class advisors, Inno-centre is one of the main organizations specializing in consulting services for innovative Canadian SMEs. Each year, the organization advises over 100 companies at various stages of their development. Inno-centre has been recognized as a top-performing accelerator by a committee of venture capital specialists chosen by Finance Canada as part of the (CAIP) selection process. CAIP's management is based in Québec City following an agreement with the city. This allows Inno-centre to reach all corners of Québec. inno-centre.com

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at November 30, 2016, the organization had $12.2 billion in net assets, and through its current portfolio of investments has helped create and protect over 187,000 jobs. The Fonds is a partner in more than 2,600 companies and has nearly 618,000 shareholder-savers. fondsftq.com

SOURCE (FTQ) Le Fonds de Solidarité des Travailleurs du Québec