Hypercroissance Québec launches to help late-stage startups scale their growth
by CM Staff
Hypercroissance Québec will select 25 scaleups for the first cohort and develop their executive teams through individualized mentorship and coaching.
MONTRÉAL — Anchored by the growth and success of technology businesses in Québec, Hypercroissance Québec is launched as a program to support the highest potential late-stage startups, or scaleups, to accelerate their global growth towards creating more billion-dollar IPOs and exits.
Created by Startup Montréal in collaboration with Apexe Global, Hypercroissance Québec will select 25 scaleups for the first cohort and develop their executive teams through individualized mentorship and coaching with successful tech executives based in top global markets. At its core, the initiative is focused on accelerating global commercialization. Startup Montréal aims at supporting up to 80 businesses for the first two years of operation.
“We have worked with scaleups over the last months to better understand how they can grow to global leadership rather than sell to American companies or move out of Québec,” says Liette Lamonde, managing director of Startup Montréal. “It is a challenge for startups to find the appropriate executives, coaches, and mentors that can help them achieve hypergrowth. Our collaboration with Apexe Global allows us to rapidly gain access to the international expertise that our scaleups critically need.”
“Québec and Montréal have long produced world-class technology and entrepreneurs, and Lightspeed, Nuvei, and Dialogue are only the most recent examples of big success,” says Silicon Valley-based JF Gauthier, founder and CEO of Apexe Global. “Now is the time to accelerate Québec’s international commercialization capabilities so the province will produce more global leaders and large IPOs.”
Lucie Lecours, Québec Minister for the Economy, Nadine Girault, Québec Minister of International Relations and La Francophonie, and MarieChantal Chassé, Parliamentary Assistant to the Minister of Economy and Innovation (Innovation and Entrepreneurship) today announce the funding of $6.5 million for the project.
Meanwhile, Desjardins Group has confirmed a $1 million commitment over 5 years for Startup Montréal, most of which will be earmarked for Hypercroissance Québec. Desjardins’s contribution will support this new program as it helps Québec’s best startups achieve hypergrowth without having to leave the province and provides targeted mentoring opportunities. Hypercroissance Québec also receives funding from BDC Capital.