Next Project Submission Deadline:
October 01, 2018












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 October 01, 2018.



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


Project submissions.

Next project submission deadline:
October 01, 2018

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 $1.1 M Seed Financing to Commercialize Cloud-Based Robotics A.I. SaaS Platform

Montréal (Québec), May 02, 2018  - Montreal-based C2RO Cloud Robotics Inc. today announced that it has concluded a US$1.1 Million seed financing led by Chicago-based Harbor Street Ventures, with the participation of Fonds InnovExport, TandemLaunch Ventures 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 cloud robotics SaaS solutions. “We recognized early on that C2RO had all the right ingredients to become a disruptor in the Cloud Robotics and A.I. space,” said Steve Komie, Managing Director at Harbor Street Ventures. “With strong proprietary technology and deep technical expertise, C2RO has the potential to revolutionize how robots transform businesses in key sectors of the new A.I. driven economy.”  C2RO’s cloud-based real-time data processing engine significantly augments robots’ cognitive capabilities with a wide range of state-of-the-art A.I. services, while allowing instant knowledge sharing and collaboration among connected robots and sensors.“We welcome the support of our new and existing shareholders, which will allow us to accelerate our go-to-market plans and help us realize the founding vision of C2RO,” added Riccardo Badalone, President & CEO of C2RO Cloud Robotics. “I’m am incredibly excited about our Engage and Mobility products, which have been identified as the key to unlocking the value of robots in the fastest growing segments of the enterprise market.”   Targeting the fast growing service robotics market estimated to be valued at $ 7 billion by 2022, C2RO’s first product offerings, Mobility and Engage, will allow businesses to use robots and connected peripherals to create new and exciting dimensions of communication and interaction with their customers and employees. This is particularly powerful in the retail, hospitality and customer service industries which are currently undergoing a rapid transformation powered by robots and A.I.“Advancements in telecommunication, cloud-based computing and artificial intelligence have paved the way for cloud robotics,” said Helge Seetzen, General Partner & CEO of TandemLaunch Ventures. “With the service industry quickly recognizing the potential of robots and artificial intelligence to improve their customer experience and drive efficiencies, we are excited about the commercial potential of C2RO’s technology.”C2RO’s SaaS platform allows enterprises to quickly deploy and manage their robot platforms in a seamless and intuitive manner, while allowing for sophisticated real-time data analysis and business intelligence formulation. “We are proud to be supporting such a great Quebec-based artificial intelligence start-up,” said Richard Bordeleau, President at Fonds Innovexport. “As first movers in a fast-growing market, we believe C2RO will have a tremendous impact on the industry and we want to support them through this journey.”About C2RO Cloud Robotics Inc.C2RO Cloud Robotics is a Montreal-based high-tech software firm that has introduced the world’s 1st Cloud Robotics SaaS Platform (B2B) that uses cloud-based AI services to augment cognitive and collaborative capabilities of service robots with a simple internet connection. The Mobility and Engage product offerings allow customer service robot platforms to be used for advanced human interaction and behavioral analysis, which can be leveraged by businesses to increase their efficiency or reshape and enhance their customers' on-site experiences. www.c2ro.comAbout Harbour 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 intelligence. www.harborstreetventures.comAbout TandemLaunch VenturesTandemLaunch Ventures is a seed investor and incubator focused on creating early-stage technology start-ups in collaboration with global universities and world-class entrepreneurs.www.tandemlaunch.comAbout 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    Contact Information:Alex Gaughan, Marketing LeadC2RO Cloud Robotics Inc.



Aerial Technologies Raises 1.94M$ in Financing from VCs and Strategic Partners, and Recruits WiFi Industry Veteran as First Independent Board Member

Montreal, February 26, 2018 – Aerial Technologies, a Montreal-based provider of wireless motion analytics solutions, is proud to announce today that it has secured an additional 1.94M$ CAD in capital for its Seed Preferred round. This latest round is led by an undisclosed chipset manufacturer, in addition to current investors, Fonds Innovexport, Kibo Ventures, Quebecor, and Telefónica Open Future_ who are increasing their positions.The capital will be used to further accelerate the company’s growth, both on the organizational and business fronts. “Having demonstrated that our technology works and meeting and exceeding prior funding milestones, I am very pleased our investors share our vision and are helping support our growth with additional capital and advice,” says David Grant, CEO of Aerial Technologies. Industry experts estimate the IoT industry will witness increases between 2018 and 2022 of more than 40% CAGR, with even greater growth in the IoT sensor segment. A recent study predicts IoT spending in 2018 will top $772B USD lead by manufacturing, transportation and utilities. Aerial will enable many of these devices to react to natural human motion, thereby unlocking enhanced services without the need for wearables or cognitive human interaction.“Aerial’s strongest assets are their incredible team and a patented technology that is bringing an entirely new perspective to the residential market, leading a new breed of device-free services for the home. The market response so far has been phenomenal as we are seeing explosive growth of both enquiries and sales pipeline for its solutions,” mentions Aquilino Peña, Founding Partner, Kibo Ventures.“At Telefónica Open Future_ innovation funds, we are continuously searching new capabilities and projects that enhance our value proposition of our connectivity business. Our participation in this new investment round endorses such approach as well as enhances our smart WiFi platform with potential new services to be delivered to our clients,” adds Gonzalo Martin Villa, Innovation Director at Telefónica.“Aerial has the potential to enhance and augment the growing number of IoT solutions with the power of motion. Many solutions today require users to wear devices or cognitively interact with applications. With Aerial, devices use natural motion without thought. Imagine how smart your home could be if it knew when you were home and when you were away. Your home could lock the doors and set the alarm naturally, it could turn on lights and other appliances when you need them, and insure they are off or in power-saving mode when you don’t. We are currently testing these and other services such as elderly care monitoring in collaboration with our partners who will be offering such services,” says Grant.Additionally, we are proud to announce the nomination of John Major as our first independent board member. Major founded MTSG, a strategic consulting and investment company of which he has been serving as president since 2003. He joined the board of Broadcom in 2003. Major served as chairman and lead independent director from 2008 to 2012. He left the board in April 2016 following the Avago acquisition. He also held various executive and leadership positions at Motorola Inc. for nearly two decades, the most recent of which was Senior Vice President and CTO. Major received a B.S. in Mechanical and Aerospace Engineering from the University of Rochester, an M.S. in Mechanical Engineering from the University of Illinois, an M.B.A. from Northwestern University, and a J.D. from Loyola University.Aerial will be exhibiting at Mobile World Congress in Barcelona, Hall 7 stand M11 from February 26 to March 1, 2018. Our CEO, David Grant, will be presenting “Humans Making Waves: Leveraging Disturbances in the Wireless Mesh” on February 26 at 12h20 and 13h30 on the Showcase Stage in Hall 4. Visit Aerial’s website to learn more about the technology behind our solutions.About Aerial TechnologiesAerial provides ISPs and MSOs, healthcare players, security systems integrators, and smart object manufacturers with a unique cloud-based, low-cost solution that leverages existing wireless infrastructure and machine learning to give context, meaning and value to motion. Aerial’s passive and contextual solutions do not require users to interact with them, they recognize users and background. With our WiFi motion analytics SaaS, customers have access to new revenue streams with a minimum investment. Our customers also gain from accessing end-user actionable data to help them make better business decisions. We aim at becoming the wireless standard for smart motion detection through continuous innovation, passion, simplicity and inventiveness for the smart home, home care, security, healthcare and targeted media applications. Aerial’s headquarters is based in Canada; we also operate from two regional offices in the USA and in Europe. For more information about how Aerial is making IoT more human, visit Fonds InnovexportBased in Quebec City, Innovexport invests in start-up companies in the Province of Quebec having innovative products or services with strong export potential. Innovexport was created by entrepreneurs for entrepreneurs with the objective to help them grow their companies. www.fondsinnovexport.comAbout Kibo VenturesKibo Ventures, based in Madrid, Spain, is a VC Fund focused on early-stage investments in digital companies. Kibo Ventures invests in teams with global ambition, unique technologies and scalable business models. Kibo Ventures manages $130 million from a mix of institutional and private investors, including IEF, Telefonica, the Spanish Government (through CDTI), Mutua Madrileña (Spain’s largest insurance company), FondICO and CaixaBank. Kibo Ventures has invested in over 40 companies in Europe, the Americas and Spain, including Flywire, Carto, Job and Talent, and WorldSensing, and has co-invested with many of the largest US and European VC Funds. www.kiboventures.comAbout QuebecorQuebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor’s subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services. Quebecor (TSX: QBR.A, QBR..B) is headquartered in Québec. It holds an 81.53% interest in Quebecor Media, which employs more than 10,000 people in Canada. A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations working in the vital fields of culture, health, education, the environment and entrepreneurship. www.quebecor.comAbout Telefónica Open Future_Telefónica Open Future_ is Telefonica´s global platform designed to connect entrepreneurs, startups, investors and public and private partners around the world to capture innovation and business opportunities. The programme incorporates all of Telefónica Group’s open innovation, entrepreneurship and investment initiatives through over 50 spaces and different investment vehicles. To date, 800 startups have been invested. Telefónica Open Future_ is present in 16 countries contactAerial TechnologiesPatrice Belmonte – Marketing, Communications, PRpatrice.belmonte@aerial.aiReference: 

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