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



Aerial Technologies Raises $3M US Additional Funding Led by Intel Capital to Boost Functionality Offering and Patent Portfolio

Montreal, November 8, 2018 (GlobeNewswire) – Aerial Technologies, the pioneer in wireless motion analytics powered by AI, today announced $3 million US additional capital investment led by Intel Capital, with follow-on investments from Fonds Innovexport, Kibo Ventures, and Telefónica Open Innovation. The growing list of both strategic investors and venture capital companies illustrates Aerial’s momentum in the smart home, security, home care/healthcare, energy management, and hospitality industries.This capital will be used to accelerate the addition of new functionalities requested by the market and to further advance Aerial’s IP portfolio. Aerial is actively recruiting new talents for its Engineering, R&D, and Operations teams based in Montreal, one of Canada’s hubs for artificial intelligence research and development. Aerial is also hiring in sales and customer support to expand its global reach.“I am both excited and delighted that Intel Capital has become a strategic investor in Aerial. We are looking forward to work closely with Intel and our existing investors on our quest to enable Aerial smart motion everywhere there is WiFi,” says David Grant, Aerial’s CEO.“Applications for artificial intelligence continue to accelerate innovation across industries, including the field of wireless communications,” said David P. Ryan, General manager of Health & Life Sciences Sector, Internet of Things at Intel. “AI can discover deeper insights from data and the versatile capability of Aerial’s wireless technology is well positioned to drive intelligence at the IoT edge.”About Intel Capital Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.3 billion in 1,544 companies worldwide, and more than 660 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit or follow @Intelcapital.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.  Innovexport also receives financial support from the Economic Development Strategy of the City of Quebec. They all work together to support the growth of innovative companies with the potential of becoming global leaders.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, FondICO and CaixaBank. Kibo Ventures has invested in over 50 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 Telefónica Open InnovationTelefónica Open Innovation is Telefonica’s global area 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, over 800 startups have been invested. Telefónica Open Innovation is present in 16 countries. 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 Wi-Fi 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 contactAerial TechnologiesPatrice Belmonte – Marketing, Communications,



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

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