Last week I was invited to take part Startupfestone of the events not to be missed in the Canadian startup scene. The Quebec Innovation Accelerators Movement took a special place there with the Acceleratorfest.
I took this opportunity to immerse myself in Quebec’s innovation ecosystem by meeting representatives of many incubators and accelerators, including foundation fuel that was holding its demo day this week, that entrepreneurial basis of HEC, The pool, District3 from Concordia, the MTLab for innovation in tourism hosted at UQAM or the CEIM and the CENTTECHan important place for technology related to theETS.
Christophe Lavigne, program coordinator.
Not surprisingly, as in my memories as a student (more than 20 years ago!), I was welcomed with open arms, in a spirit of sharing and collaboration. I think I can say that HES-SO Geneva And -Pulse We’ve found a new audience interested in our pre-incubation approach and curious to discover our innovative entrepreneurial nuggets.
After participating in several panels on the side Richard Chenier by Centech and Marwall Helfitess from F stationI mentored start-ups, attended exciting lectures and still ended the week with one question in mind: How can the interests of capitalist investors be reconciled with the need to support start-ups that deal with climate and social issues?
Marwan Elfitess, Head of Startup Programs at Station F.
The statement of a Canadian investor still touches me: “We are capitalists after all, we seek a return on the capital we invest (!)”. Although fundamental in the capitalist system, I was proud to represent Switzerland in this North American ecosystem, aware of the progress that characterizes us in the field of impact.
OUR climate law which encourages innovation and strengthens business efforts in this area, the introduction of LEVO by E4San impact assessment tool that is changing the way startups measure success or support“Innosuisse who are committed to sustainability tempt me to say: “We are only human.”
By incorporating corporate social responsibility (CSR) considerations into their decisions, investors could highlight climate-friendly goals while supporting sustainable growth. In the short term, the return on investment might be lower, but in the long term, everyone would benefit.
It’s daring to imagine the harmonization of these two worlds, but that’s what drives entrepreneurship, so let’s be bold!
Louis-Felix Binette from MAIN and Katy Yam from Fonder Fuel
My meeting with Quebec innovation stakeholders reinforced this sense that incubators and accelerators play a crucial role in this movement by launching collaborative programs that specifically focus on climate and social issues. In addition to valuable advice and support for start-ups, they also offer infrastructure and a strong network.
But funding for the most promising projects must also be considered, and this is where the public and private sectors need to join forces to foster healthy and sustainable growth.
Governments can encourage investors to fund these types of startups by offering tax breaks and grants, and encouraging partnerships at important awards such as those presented at the end of Startupfest. By aligning public resources with private capital, it is possible to accelerate the growth of impact startups and ease the transition to a sustainable future.
This festival provided the opportunity to award numerous prizes and to highlight companies that embody this vision and counterbalance the ultra-capitalist discourse of certain panels.
To my favourites:
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Ora Medical received the $100,000 Women in Technology Award from The Fire Dome plus an additional $210,000 in support from BDC Capital (Canada) and other crowd partners!
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Kudos to too Lara Emond the founder of the Quebec startup Iris + Arlo for the Impact grant from FTQ Fund.
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Other startups from the entrepreneurial base of HEC such as e.g Vega BioImagingawarded with Front Row Venturesdeveloping immunolabeling technology that improves detection of therapeutic targets in cancer,
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as well as ACARAand CapmAI for their awards NextAI – Best startup.
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There was also the announcement of Excel labendowed with $100 million from the BDCthat will invest in women-led businesses that want to make a positive social impact.
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Or ACARAawarded with NextAI whose carbon farming software will help farmers practice sustainable farming while generating new income.
Lara Emond, winner of the FTQ Fund’s Impact grant.
It is important to create opportunities for knowledge sharing and cross-fertilization between startups focused on capital growth and those tackling climate and social challenges. Events that bring together startups, accelerators, government and investors play a crucial role in this dynamic by promoting networking, ideation and collaboration.
Fostering dialogue and partnerships between all stakeholders enables the exchange of ideas, technologies and best practices, thereby accelerating the transition to more sustainable investments.
As in Canada, the question of regions is just as crucial as in Switzerland. As capital concentrates in Toronto, forces combine to foster virtuous innovation in Quebec.
In Switzerland, capitalist investors tend to be concentrated in Zurich, while Geneva stands out for its sustainability initiatives combined with the strong presence of international organizations, and Lausanne is a significant magnet for start-ups thanks to the strong presence of international organizationsEPFL.
The only solution, despite the language barrier, is to join forces, not only in the service of capital, but for our common good and, incidentally, for the survival of humanity.
When does a startup festival take place in Switzerland?
Rebecca Croll, Content Director of Startupfest
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– How to close the gap between capital and social innovation for a sustainable future?
After my visit to Startupfest Canada, the question arises as to how capitalist investment and support for startups facing environmental and social challenges can be brought together. So how do we go from “We are capitalists after all” to “We are all human beings after all”?