In its 2009-2010 budget, the Québec government announced the creation of technology company seed funds to be awarded through a call for proposals. That process was overseen by an independent committee made up of industry experts and chaired by Martin Godbout, former President and CEO of Genome Canada.
Today the Québec Technology Company Seed Fund Selection Committee announced that their recommendations have been approved by the fund’s three sponsors: the Québec government, the Solidarity Fund QFL and FIER Partners, L.P.
The three Québec-based technology company seed funds recommended by the Selection Committee are FounderFuel Ventures in the information and communications technologies industry, AmorChem in the life sciences industry and Cycle-C3E Capital in the green technologies industry.
These new funds will be financed in part by the Québec government, which has agreed to provide a $50 Million contribution through Investissement Québec, by the Solidarity Fund QFL, which is investing $33 Million, and by FIER Partners, which plans to invest $17 Million.