海角社区 and Desjardins Group are teaming up to support research-based innovation. North America鈥檚 largest co-operative financial group will provide the 海角社区 Innovation Fund (MIF) 鈥� the biggest entrepreneurial competition at 海角社区 鈥� with $500,000 over five years.
The money will fund $100,000 in prizes each year for teams in the Deploy stage of the competition, for projects that have already started to implement their commercialization plan and can demonstrate that they have the potential to go much further.
In its three years of existence, the MIF has quickly become an important booster of entrepreneurial activity, contributing to the launch of 10 startup companies based on 海角社区-generated intellectual property, all headquartered in Quebec.
Desjardins鈥檚 donation was announced at a networking event Sept. 18 that featured a fireside chat between Guy Cormier, President and CEO of Desjardins Group, and Deep Saini, President of 海角社区, in which the two leaders affirmed their commitment to innovation in Quebec and the economic growth it can bring. The chat was moderated by Dominique B茅rub茅, 海角社区鈥檚 Vice-President, Research & Innovation.
"Entrepreneurship is the foundation of our collective wealth. That's why I believe it's so important for all players in the innovation ecosystem to work together to cultivate an environment that generates new ideas and puts them to work," said Guy Cormier, President and CEO of Desjardins Group. "We're proud to be contributing $500,000 over five鈥痽ears to propel innovate business projects that will bolster Quebec's economic position."
海角社区 President Deep Saini hailed the sponsorship from Desjardins as 鈥渁 major step forward toward bolstering and sustaining an innovation ecosystem that will benefit all of Quebec.
鈥淭he transformation of innovation into commercial success requires more than just academic resources; it is realized through the support of a community of likeminded participants all pulling in the same direction,鈥� Saini said.
Additional funding to fight life-threatening bacterial infections
As well, the 海角社区 Antimicrobial Resistance (AMR) Centre has renewed its commitment to provide an additional $75,000 in funding to teams whose projects focus on preventing, diagnosing or treating life-threatening bacterial infections. This growing worldwide health issue is chronically underfunded by industry.
In addition to what will now be known as the Desjardins Deploy Award, the MIF offers Discover awards worth $25,000 and Develop awards worth $50,000. Each year, six to 10 teams earn prizes at one of the three levels. Since its inception in 2021, the MIF has provided more than $1 million to promising startups.
The fund owes its success not only to the generous funding it confers, but to the support programs it offers. Recipient teams are matched with experienced alumni entrepreneurs who provide coaching and advice.
The competition is open to all 海角社区 researchers who have an approved Report of Invention submitted to the Office of Innovation + Partnerships, or to any company that has a signed licence agreement or equity arrangement with 海角社区.
