Next Project Submission Deadline:
April 24, 2020












Supporting an InnovativeQuebec

About the Fund

Our mission: Support seeding and start-ups of innovative businesses for international markets to shape the future of Quebec.

The automated project submission process allows Fonds Innovexport to quickly meet the financing needs of entrepreneurs, allowing them to focus on expanding their business.

Fonds Innovexport comprises twenty-five experienced entrepreneurs, as well as the Government of Quebec represented by Investissement Québec, fonds espace cdpq de la Caisse de dépôt et placement du Québec, Desjardins - Innovatech, the Fonds de solidarité FTQ, and Fondaction CSN. They all work together to support the establishment of innovative businesses with the potential of becoming global leaders. Fonds Innovexport also receives financial support from the Economic Development Strategy of the City of Quebec.

Requested Projects

Requested Projects

We believe in entrepreneurs who distinguish themselves through their personal and professional achievements and who surround themselves well to attain their objectives.

You must be supported by a start-up incubator, a business accelerator or a committee comprised of experienced people.

We support projects that provide innovative products or services that solve real problems here and elsewhere. Your aim should be meeting market needs and doing so more effectively than others.

Our investments are based on structured and realistic business plans with clear development milestones and well-defined human, material and financial resources that ensure execution.

We focus on exportable projects that showcase Quebec's know-how and creativity abroad.

We seek simple corporate structures conducive to investment with realistic medium-term profitability objectives.
Fonds Innovexport invests through convertible debt or equity. Investment amounts vary from $50,000 to $1 million for each round of funding, up to a maximum of $3 million per business. Amounts are determined according to required resources to attain each significant development milestone. Fonds Innovexport generally invests in successive installments based on these development milestones.

Ineligible Business Sectors or Companies:

  • Farming and forestry operations
  • Mining operations and exploration
  • Biotechnology (development of pharmaceutical and therapeutic products)
  • Financing for construction projects and purchase or management of real estate
  • Brick and mortar retail sales such as shops
  • Businesses involving sexual, religious, political and similar activities
  • Companies with legal, environmental, ethical or governance issues
  • Any project of a company that already has the required financial resources

Your project meets the qualification requirements?
The next deadline for submitting your project is April 24, 2020.



Fonds Innovexport has adopted a strict and structured investment process enabling effective and timely cooperation with entrepreneurs.


Project submissions.

Next project submission deadline:
April 24, 2020

Validation of eligibility and issuance of a letter of interest by the Fund team usually within one week following the submission deadline.

Request for additional information for a first interview.

First interview with entrepreneurs on a fixed date, usually one or two weeks pursuant to submission deadline. In collaboration with Le Camp à Québec, a one-day event filled with workshops and conferences is organized on this day.

Issuance of a letter of intent, usually within two or three weeks, and deeper assessment of the project upon receipt of the letter of intent by the entrepreneur.

This initial offer is subject to approval by the Investment Committee and the Board of Directors.

After the Fund team has completed evaluating the project, the entrepreneur is invited to present the project to the Investment Committee, usually comprised of members of the G25.

Based on the recommendations of the Investment Committee and subject to the approval of the Board of Directors, issuance of a formal letter of final offer and closing of the investment, as the case may be, in the following weeks.

Our sponsors
and partners

Sponsors and partners share a common goal, supporting the expansion of innovative Quebec businesses whose goals are attaining international markets to contribute to the prosperity of Quebec’s future.

Gouvernement du Québec Investissement Québec Caisse de dépôt et de placement du Québec Desjardins Fonds de solidarité FTQ Fondaction CSN G25
Ville de Québec Le Camp



C2RO Raises $2.25 M Financing to Commercialize Portfolio of Enterprise Grade Cloud A.I. Services

Montreal (Quebec) June 27, 2019 – Montreal-based C2RO today announced that it has secured CAD$2.25 Million in new financing in a round led by Fonds Innovexport, with participation from GCI Capital Inc., Harbor Street Ventures, Tandemlaunch, Ministere de Economie et L’Innovation, and several angel investors in Canada, the U.S. and Europe. The funds will be used to accelerate the commercialization of C2RO’s powerful enterprise grade cloud A.I. services.  “We led the investment in C2RO because it has an excellent execution team, a significantly expanding Tier1 customer base, and a formidable technology position in the field of real-time machine vision A.I.,” said Richard Bordeleau, President at Fonds Innovexport. “C2RO will have a tremendous impact on the industry and we want to support them through this journey.” In June of 2018, the company introduced C2RO EngageTM, the world’s first real-time cloud based facial recognition platform. In March of 2019, C2RO augmented it’s A.I. services portfolio with PerceiveTM, a state of the art fully anonymous customer journey analysis platform and demographic classification system. EngageTM and PerceiveTM are the two key ingredients to enabling the transformation cycle that is taking place in the retail and commercial real estate industries toward highly personalized and data driven interactive smart environments. C2RO’s product offerings are fully compliant with the most stringent privacy regulations, including the EU’s General Data Protection Regulations (GDPR).  “We welcome the support of our new and existing shareholders, which will allow us to expand our current customer deployments and pursue new and exciting opportunities for our portfolio of A.I. products both here in North America and abroad,” added Riccardo Badalone, President & CEO of C2RO. “I’m am incredibly excited about our EngageTM and PerceiveTM products, which are proving themselves in the field and are allowing us to assist an increasing number of early adopters with their digital transformation objectives.” According to Market and Markets, the global market for A.I. analytics solutions in retail and commercial real estate will exceed $5B USD by 2022 and is growing at a stunning 40% CAGR. The growth is being fueled by global retail and commercial real estate brands that are blending digital and physical assets to provide consumers with increasingly frictionless and highly personalized experiences.         About C2RO Inc.C2RO is a Montreal based high-tech software start-up that was incubated at Tandemlaunch Inc. in 2016 and has developed a proprietary universal machine vision A.I. platform for the enterprise market. The company has introduced a portfolio of products (EngageTM and PerceiveTM) which leverage the power of the cloud while providing state-of-the-art real-time performance and precision. C2RO products are enabling the digital transformation of physical retail and commercial real estate towards a more personalized and frictionless experience for their customers. C2RO’s product offerings are fully compliant with the most stringent privacy regulations, including the EU’s General Data Protection Regulations (GDPR)   About Fonds InnovExportFonds Innovexport is an early-stage venture capital firm that supports the development of Quebec-based innovators seeking growth in international markets. Based in Quebec City, Innovexport is partnering with twenty-five experienced entrepreneurs, as well as the Government of Quebec represented by Investissement Québec, the Fonds Espace CDPQ de la Caisse de dépôt et placement du Québec, Desjardins - Innovatech, the Fonds de solidarité FTQ, and Fondaction CSN. They all work together to support the establishment of innovative companies with the potential of becoming global      About GCi CapitalGCI Ventures Ltd. is a Toronto, Ontario based Investment Company investing in a wide range of industries including private green and clean technology, consumer products, IT, life sciences, among others. GCI's participation includes direct investment into companies via equity and convertible notes, as well as in global expansion through licensing and distribution joint  About Harbor Street VenturesHarbor Street Ventures is a Chicago-based venture investment firm. Harbor Street Ventures was founded by Steve Komie and David Shulman, both with deep technology backgrounds in algorithmic trading and artificial  About TandemLaunchTandemLaunch is a seed investor and incubator focused on creating early-stage technology start-ups in collaboration with global universities and world-class entrepreneurs. 



TDK cooperates with Boréas on smart haptic solutions

TDK Corporation (TSE:6762) announces that its subsidiary TDK Electronics has signed a cooperation agreement with Boréas Technologies Inc., developer of ultra-low-power haptic technologies, in order to accelerate the adoption of piezo haptic solutions in a broad range of applications. Under the agreement, the partners will jointly design and market advanced touch response solutions using TDK’s PowerHap™ and PiezoHapt™ families of piezo actuators for haptic feedback combined with Boréas’ piezo haptic driver technology.In particular, TDK and Boréas will develop demonstrators for haptic effects and drivers for high-definition piezo haptic systems and market these solutions on a global scale. This will enable customers to implement advanced haptic solutions with the world’s highest performance actuators in a broad spectrum of applications that includes smartphones and tablets, automotive displays and controls, wearables, gaming consoles, industrial equipment, medical devices, and many more.One of the most important areas will be mobile applications. Thus far, piezo haptic solutions are not widespread in these applications because of the high power consumption and large size of piezo drivers. Now, solutions based on TDK and Boréas technologies are removing the barriers for the adoption of advanced piezo haptic technology and the creation of the next generation of user interfaces.“Our partnership with Boréas Technologies is a further step to expand our market reach to customers, who are looking for technological superior haptic solutions,” explains Dr. Georg Kuegerl, CTO of the TDK Piezo & Protection Devices Business Group. “In particular, they will benefit from Boréas’ expert design of drivers for our wide range of piezo actuators.”“Cooperating with TDK enables us to access their extensive sales and marketing network to accelerate the adoption of piezo haptics globally,” says Simon Chaput, Boréas Technologies’ CEO. “Furthermore, this cooperation will enable faster time to market for our customers by reducing the amount of engineering required to implement a piezo haptic solution using Boréas’ driver ICs with TDK’s piezo actuators.”Boréas Technologies has developed the BOS1901 using its patented CapDriveTM technology. The miniature power-efficient piezo driver IC also features advanced sensing functionality and thus is a perfect fit for PowerHap actuators with an operating voltage of up to 60 V. This driver is now also available in a TDK evaluation kit that can be used by designers to develop high-performance touch response solutions. As a next step, Boréas will develop the first low-power piezo driver IC for the larger members of the PowerHap family with maximum drive voltages of 120 V. With the two driver ICs customers will be able to create solutions drawing from the entire PowerHap portfolio.TDK’s PowerHap piezo actuators deliver unrivalled performance in terms of acceleration, force and response time and thus offer an unprecedented quality of haptic feedback. The PowerHap product spectrum includes new miniaturized types with dimensions of as small as 9 x 3.75 x 1.4 mm (0904H014V060) and a maximum operating voltage of 60 V. At the other end of the PowerHap product spectrum, a new actuator (6005H090V120) is now in development with dimensions of 60 x 5.0 x 9.0 mm and a maximum operating voltage of 120 V. PiezoHapt™ actuators feature a very short response time and a low drive voltage of 12 V or 24 V, depending on the type. They have a unimorph design consisting of a multilayer piezo element bonded to one side of a vibration plate. With a thickness of just 0.35 mm the new haptic actuator is one of the world’s thinnest haptic devices.

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