Quebec is launching a new program, Hypercroissance Quebec, whose objective will be to support nearly 80 potential unicorns within two years.
Posted at 2:30 p.m.
Endowed with funding of 6.5 million and managed by Startup Montreal, a non-profit organization, Hypercroissance Quebec wants to offer mentoring and develop the management teams of these companies whose market value could exceed one billion dollars, said we announced this Monday at a press conference.
“Encouraging innovation and new business technologies is part of our mission,” explained Lucie Lecours, Minister Delegate for the Economy, in a press release. With this contribution, we will help emerging Quebec companies take their place internationally. Within two years, the goal is for hyper-growth businesses to double their sales and triple their exports. »
The first 25 high-growth innovative Quebec companies, called “scaleups”, will be identified by next May. We want to take inspiration from international successes like Lightspeed, Nuvei and Dialogue to help them grow. “We have worked with scaleups over the past few months to better understand the success factors for their global growth, while remaining based here rather than being sold to American companies or leaving Quebec, specifies by press release Liette Lamonde, General Manager of Startup Montreal. Finding the right executives, coaches, and mentors who can help them achieve hypergrowth is a challenge for these companies. »
The program, supported by Investissement Québec International and partners such as the Global Entrepreneurship Network (GEM), counts on a financial commitment of $1 million over five years from Desjardins Group, as well as financial support from BDC Capital. “To propel the startups on the world stage, the contribution of the business community is essential, believes Jean-Yves Bourgeois, Senior Vice-President Business Services at Desjardins Group. The historic collaboration between Desjardins and Startup Montreal makes this partnership quite natural. »