Bell, Google, Desjardins, and the Fonds de solidarité FTQ invest $5.25M to support new innovation hub until 2029
MONTREAL, Oct. 8, 2024 /CNW/ – Ax-C, a new hub for innovative entrepreneurship set to open in 2025, today announced a multi-year partnership with Bell, Google, Desjardins, and the Fonds de solidarité FTQ, representing a combined financial contribution of $5.25 million. This strategic private sector partnership will build a strong and dynamic ecosystem dedicated to the growth of startups in Quebec—the drivers of innovative tech solutions with the potential to address some of society’s most pressing challenges.
Ax-C’s new “building partners” will gain privileged access to emerging innovations and benefit from a dedicated research and innovation office within Ax-C. They will work to mobilize their networks and resources, at both the local and international levels, to support Quebec startups and the growth of new technologies.
Ax-C, an initiative born from the 2022-2027 Quebec Research and Innovation Investment Strategy, also benefits from different levels of government investments totalling $48 million, including from the Quebec Ministry of Economy, Innovation and Energy, Canada Economic Development for Quebec Regions, and the City of Montreal. The École de technologie supérieure (ÉTS) is overseeing the development of the Ax-C hub and will be responsible for property management once it opens.
Located on the former trading floor of the Montreal Stock Exchange at Place Victoria in the heart of the city’s business district, Ax-C aims to create a vibrant space, where the province’s tech entrepreneurs can collaborate to ensure the growth and success of local startups. Ultimately, Ax-C aspires to become a globally recognized hub for Quebec tech solutions and know-how.
Quotes
“We are extremely proud to welcome the support of renowned companies like Bell, Google, Desjardins, and the Fonds de solidarité FTQ, to such a crucial project for the future of promising young tech companies. The participation of these private sector partners underscores the importance of collaboration across all sectors to promote innovation and contribute to the success of our entrepreneurial ecosystem, both locally and internationally.”
– Kathy Baig, Executive Director and CEO, École de technologie supérieure
“Bell is proud to be a partner of Ax-C and help propel technology for Quebec’s and Canada’s most innovative entrepreneurs. Network and technology services are foundational to the success of any new business. Ax-C entrepreneurs will benefit from our expertise in product and service development, and have access to our cutting-edge technologies, whether it’s the Internet of Things or artificial intelligence solutions, or our 5G and private mobile networks.”
Costa Pantazopoulos, Vice President, Products, Bell
“We are delighted to be one of Ax-C’s “building partners” and are looking forward to supporting Quebec’s next generation of entrepreneurs through this organization. Fostering a culture of collaboration between the private sector and the entrepreneurial ecosystem is one of the key ingredients of Quebec’s dynamic tech and economic environment, and the new Ax-C space will continue to bring this spirit to startups across the province.”
– Marc Boyer, Director, Google Cloud, Google Canada
“At Desjardins, we believe that the future of both the national and global economy rests on innovation. To ensure that ideas born here can grow and shine internationally, it is essential to support initiatives like the Ax-C hub. Collaboration among the key actors in this ecosystem is a critical factor in ensuring the success of high-potential startups. Their innovations will help redefine Quebec’s economic landscape, making it more cutting-edge, inclusive, and sustainable.”
– Marc Villeneuve, Vice President, Business Development and Outreach, Business Services, Desjardins Group
“Our startups need effective support and investment to ensure their growth. The Fonds has been present as a venture capital investor since its creation, to support, guide, and assist the development of local startups. Our involvement in Ax-C was a natural step to contribute to the growth of these companies in Quebec and internationally.”
– Dany Pelletier, Senior Vice President, Private Placements and Impact Investments, Fonds de solidarité FTQ
About Ax-C:
Ax-C is a world-class innovation hub currently under construction in downtown Montreal. It will house under one roof an ecosystem of key players from Quebec’s tech startups, as well as a range of organizations and essential services to support their growth. It will offer a meeting place for events, coworking spaces, and specialized labs. www.espaceaxc.com
SOURCE École de technologie supérieure
