Next Project Submission Deadline:
January 25, 2019












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 January 25, 2019.



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


Project submissions.

Next project submission deadline:
January 25, 2019

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



Vygon Group acquires 20 per cent of Canadian OxyNov

Québec City, Canada, September 17, 2018 - Vygon, a group specializing in single-use medical devices, today announces that it has acquired a 20% stake in OxyNov, a young Canadian company specializing in innovative oxygen therapy and respiratory assistance medical devices. The financial terms of the transaction, in which Desjardins-Innovatech and other private investors in Quebec also participated, were not disclosed. The French group decided to invest in this promising company because of the booming oxygen therapy sector. Oxygen therapy products have hardly evolved since their appearance 100 years ago. The lack of automatization does not allow to fully respect recommended daily O2 input and carries risks related to complications such as hyperoxia (excess oxygen supply) and hypoxemia (decrease in the amount of O2 in the blood). Founded in 2009, Oxynov launched FreeO2, a medical device CE marked in May 2017. It allows automated oxygen titration and weaning. FreeO2 automatically and continuously adjusts the flow of oxygen delivered to the patient based on a clinician-defined target for oxygen saturation (SpO2) and patient needs. Together with this participation, Vygon and OxyNov also signed a distribution agreement for FreeO2. The Canadian company’s flagship product will complement Vygon’s respiratory range, in particular the CPAP device. FreeO2 will be distributed under the OxyNov’s brand name in a number of European countries (Scandinavia, Benelux, Italy, ...), some Asian countries and Africa. "We are delighted with this participation in OxyNov, which is part of our international development strategy," said Stéphane Regnault, chairman of the executive board of Vygon. "The FreeO2 solution complements Vygon's offering in the respiratory range and will enable us to remain at the forefront of technological developments in this field." "We are very proud to have entered into this strategic partnership with Vygon," said Jean-Luc Balzer, chief executive officer of OxyNov. "It gives OxyNov the means to open new markets for FreeO2, including the US in 2019, and to continue the development of a range of other very innovative products which complement it." About Oxynov OxyNov is a young Canadian company focused on clinical innovation and specialized in the design and commercialization of innovative medical devices in the field of oxygen therapy and respiratory support. OxyNov was founded in 2009 by two medical researchers, Pr. Erwan L'Her (head of the medical critical care department and INSERM researcher at the University Hospital in Brest) and François Lellouche (critical care physician and researcher at IUCPQ), based on a clinical research project aimed at the development of a device to automate the administration of oxygen therapy (FreeO2) and to improve the implementation of this treatment on a daily basis. OxyNov was initially established at the University Institute of Cardiology and Pneumology of Quebec with the support of all the pulmonologists. About Vygon Group Vygon designs, manufactures and markets high-tech single-use medical devices for healthcare professionals in hospital and for private and independent practitioners. Vygon is a world leader within this industry, offering a wide range of products in a number of clinical specialties. Organized in five business units (Intensive Care – Neonatology, Enteral & Obstetrics – Intravascular Therapies – Cardiovascular & Surgery – Anesthesia & Emergency), Vygon combines local and international in-depth expertise and know-how in each individual field. With expertise right along the value chain, from product design to the delivery of training for medical personnel, Vygon provides health care professionals with effective and innovative products tailored to their needs and those of their patients, for optimum use and safety. The company distributes over 205 million products a year in more than 120 countries through its network of 27 subsidiaries and 331 distributors. Vygon products display the CE and/or FDA mark and are manufactured in the group’s eight factories in Europe, the USA and Colombia. A family company founded in 1962, Vygon is based in Ecouen, in France’s Greater Paris region. It is a mid-sized business employing 2,350 staff worldwide. The turnover in 2017 was €310 million ($362M), with 81% of this derived from Vygon’s international business. Media contacts and analysts Andrew Lloyd & Associates Agnes Stephens / Kübra Somuncu / Tel: +44 1273 675 100 @ALA_Group



AlayaCare Raises $13.8 Million in Series B Funding Led by inovia capital

Toronto, August 7, 2018 – AlayaCare, the leading cloud-based software for home and community care providers, announced today a Series B investment of $13.8 million led by inovia capital. Chrysalis is joining the round, and existing investors, including Fonds Innovexport, are participating in the financing. The financing will be used to fund AlayaCare’s continued expansion with a focus on the US market, and further investment in its proprietary technology platform. inovia capital Principal Magaly Charbonneau will join AlayaCare’s board of directors. “We’re passionate about helping our clients deliver better patient outcomes and this funding means we can accelerate through our roadmap and evolve our product more rapidly,” said Adrian Schauer, CEO, AlayaCare. “Continuing to invest in AI, machine learning capabilities and optimization science is a priority as our increasingly robust platform means clients can lower their operating costs while improving their ability to provide care, detect adverse effects and help reduce hospital readmissions.” “We share Adrian and AlayaCare’s vision to fundamentally improve the way home and community care services are provided by better leveraging technology,” said Charbonneau. “AlayaCare gives its clients the ability to make more informed, data-driven decisions, and its understanding of the marketplace, paired with deep client relationships, will drive continued growth and success.” “We partner with leading entrepreneurs to build great businesses and believe Adrian and his team have the talent and sector knowledge to be a major player in homecare in the US as well as expand its client base internationally,” said Wright Steenrod, Partner, Chrysalis. “We recognized early on that AlayaCare had all the right ingredients to become a leader in the home and community care sector,” said Serge Lavergne, Vice-President at Fonds Innovexport. “The team has exceeded all of our expectations and thus we are delighted to be further extending our support to this outstanding company.”AlayaCare helps its clients capitalize on the shift to home-based care for the growing population of older adults in several markets globally. Home health organizations look to AlayaCare to help create capacity within their organization, and its platform provides key business insights that clients can use to increase efficiencies and better deploy resources. The software suite includes scheduling, time reporting, clinical documentation, remote patient monitoring and mobile, billing, and web apps specifically for patients, family members, and care workers.Since its launch, AlayaCare has experienced double-digit monthly growth, expanded its operations in the US, Canada, and Australia and now employs over a 100+ staff. About AlayaCareAlayaCare’s unique platform includes Back Office, Client and Family Portals, Remote Patient Monitoring, Telehealth, and Mobile Care Worker functionality in one integrated and highly robust and secure cloud-based system. AlayaCare is providing the platform for Home Health Care organizations to propel their agencies towards innovation and home care of the future. AlayaCare was founded in 2014. www.alayacare.comAbout inovia capitalinovia is a full-stack venture capital firm that partners with audacious founders to build enduring technology companies. We seek to transform venture capital by perfecting the craft of investing in people first. We roll up our sleeves to serve founders with dedicated mentorship, a global talent network and structured strategies for hyper-growth. Together, we rewrite the rules of old industries, push technology frontiers and pursue bold visions for a better future. inovia manages $500M across three funds, and holds offices in Montreal, Toronto, San Francisco, and London. For more information, visit Media Contact Information:For AlayaCare - Amy Cole,, 647-287-0025For inovia capital - Melissa Mecca,, 650-644-8168 For Client Enquiries: AlayaCare Brady Murphy, VP- Sales & Marketing, 647-477-4174 ext. 201Topics: Australia, AlayaCare News, Canada, United States Reference:   

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