Canada

Québec City

Activation Phase
MEMBERS:
Québec International

The arrival of new international entrepreneurs and startups has promoted dynamism and innovation in Québec City’s economy. The Groupe des incubateurs-accélérateurs de Québec, created in 2019, is helping to maximize the strengths of all stakeholders in order to accelerate the growth of local businesses.

ALAIN CHANDONNET
PH.D., President and CEO, INO

Sub-sector Strengths

AI, Big Data & Analytics

COVEO, an AI-powered search unicorn, announced a $227 million Series F round in 2019. The national government’s $950 million Innovation Superclusters initiative supports the SCALE.AI project, an important source of economic growth and collective wealth for Canada, and for the province of Québec and the Québec City region. The SCALE.AI project is supported by OPTEL GROUP, COVEO and Université Laval, as well as Bentley and other key players from the business and innovation world of Québec City.

Life Sciences

Québec City has expertise in biopharmaceuticals (vaccines), medical technologies and cosmeceuticals. As a recognized skills hub, it is home to 84 R&D centers, chairs and research labs as well as various internationally acclaimed researchers. The city has successfully transformed research and innovation into powerful growth drivers (CRI, CERVO). In 2018, Medicago began construction on a new $245 million vaccine production facility. Companies in Quebec City are working on the development of a vaccine, developing diagnostic tests, and working on solutions in response to the COVID crisis.

Why you should invest in Québec City

TOTAL EARLY STAGE FUNDING
<$50 m
GLOBAL AVG.
$431 m
ECOSYSTEM VALUE
$358 m
GLOBAL AVG.
$10.5 bn
Top 5 North American Ecosystem
Affordable Talent
Top 10 North American Ecosystem
Bang for Buck
1
Exit Growth
INDEX
1
Investor Activity
INDEX
8
Funding Growth
INDEX

Reasons to move your startup to Québec City

MEDIAN SEED ROUND
$725 k
GLOBAL AVG.
$494 k
MEDIAN SERIES A ROUND
$1.7 m
GLOBAL AVG.
$2.7 m
SOFTWARE ENGINEER SALARY
$52 k
GLOBAL AVG.
$42.1 k

Expertise + Innovation + Funding Support

Quebec City is home to 68,000 workers with a graduate degree in ICT and electronics, and is one of the 5 cities to house the first pre-commercial 5G wireless network for open innovation in Canada. In 2018, the ecosystem saw a 133% growth in VC deals from 2017.

COVID-19 Policy

The Quebec government announced the “concerted temporary action program for businesses” (PACTE) to offer financial support to affected businesses in the form of loan guarantees for a minimum amount of $50,000. Further support has been also made available through the Canada Emergency Wage Subsidy and Business Credit Availability Program, amongst others initiatives.

Startup Community

Startup Genome
Members

Startup Genome
Partners

BDC
PwC Québec
ROBIC
Ville de Québec
Quebec City Group if incubators
Quantino
Entrepreneuriat Laval
Apply to be an ambassador
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Get connected

Are you interested in diving deeper into this ecosystem? Drop us a message. Our Ambassadors and Partners can plug you in.