Quebec is injecting $100 million into an investment fund to help local inventors market their innovations resulting from public research.
Nicknamed Eurêka, this fund will be managed by Investissement Québec, which will work closely with Axelys, the company for the development and transfer of innovations in Quebec, announced Tuesday the Minister of the Economy, Pierre Fitzgibbon.
It aims, among other things, to stimulate the commercialization of innovations resulting from public research through investment in new technological companies and to attract other investors at the pre-seed stage.
“By investing in the first stages of the life of these companies and by attracting private investors, the Eureka fund will enable us to accompany our innovations from the laboratory to the market. We will contribute to the emergence of more innovative start-ups and to the influence of our products and our know-how throughout the world”, rejoiced Minister Pierre Fitzgibbon.
With a capitalization of $100 million, the Eurékà fund will have a lifespan of twenty years.
Reference-www.journaldequebec.com