Montreal, June 17, 2024 – 2 Degrés, Cycle Momentum and IVÉO are proud to announce the launch of a cleantech incubation and acceleration consortium. Their common goal is to stimulate the creation of innovative start-ups, accelerate the commercialization of their solutions and generate significant environmental and economic benefits for the whole of Quebec.
This consortium brings together the expertise of three key players: 2 Degrés, a cleantech incubator; Cycle Momentum, a cleantech accelerator; and IVÉO, a municipal innovation accelerator. Together, they are building a collaborative and structured start-up creation model to offer a continuum of entrepreneurial support in clean technologies, from ideation to commercialization. By pooling their resources, the three organizations will help strengthen and accelerate the deployment of innovative, sustainable solutions across Quebec.
The Quebec government, through the Ministère de l’Économie, de l’Innovation et de l’Énergie, has awarded $3,565,259 in funding to 2 Degrés, Cycle Momentum and IVÉO to support the establishment of the Cleantech Consortium. This financial assistance is part of the Quebec Research and Innovation Investment Strategy (SQRI2 ). The total investment by all partners will amount to $7,929,869, demonstrating the scale of this initiative.
The government support comes on top of the more than $22 million in funding Cycle Momentum received last October from the Ministère de l’Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs, through the Plan pour une économie verte 2030, to support its mission as an accelerator for Quebec startups with high growth potential.
“To support our fight against climate change and Quebec’s decarbonization, we must build an even more dynamic cleantech ecosystem. This new consortium will enable us to combine our strengths to support more innovative companies, from the idea stage to commercialization of their green and sustainable technological solutions.” Benoit Charette, Minister of the Environment, Climate Change, Wildlife and Parks and Minister responsible for the Laurentides region
“In the face of climate change, now more than ever, we need to come together to build tomorrow’s economy. I am very proud to officially announce this Consortium, which will enable us to respond to the urgent need to increase the number of clean technology companies! By pooling the strengths of our ecosystem, we will foster the emergence of successful companies, accelerate market access, and at the same time de-risk the development of innovations. The government’s support for this ambitious, structured and collaborative initiative fills me with hope for the future.” Alexandre Guindon, General Manager and Co-founder, 2 Degrés
“The creation of the Consortium is an extraordinary collaborative effort to address a major issue in Quebec’s cleantech ecosystem: the creation of new cleantech start-ups and their commercialization. We believe this alliance will benefit entrepreneurs by providing specialized climate technology coaching, connections to potential customers, and access to investment.” Patrick Gagné, President and CEO, Cycle Momentum
“The Consortium is a unique opportunity to align the development of innovative technologies with the challenges and needs of the municipal and industrial sectors as early as possible. This better alignment will undeniably accelerate the deployment and adoption of solutions that will enable municipalities and businesses to be more resilient and sustainable, while generating significant economic impacts for Quebec.” Benoit Balmana, General Manager, IVÉO
About 2 Degrés
2 Degrés is Quebec’s first and only incubator specifically dedicated to cleantech companies. Its mission is to accelerate our ecological transition through entrepreneurship, innovation, and collaboration. It is notably through its incubation and open innovation programs dedicated to start-ups that 2 Degrés actively contributes to the creation of sustainable wealth in response to the greatest societal challenges. Since 2021, thanks to a strong network of partners, 2 Degrés has contributed to the growth of more than 35 companies proposing innovations in the energy, water, and residual materials sectors, and aims to propel more than 100 by the end of 2025.
About Cycle Momentum
Cycle Momentum is an international acceleration and innovation platform bringing together entrepreneurs, companies, investors, and innovators. Our mission is to enable the identification and development of cutting-edge technologies to combat the climate crisis. As a member of the Cycle Capital platform, Cycle Momentum offers entrepreneurs acceleration programs to support their growth. We also offer investment and collaboration opportunities through our extensive network of investors and industry partners.
About IVÉO
An NPO founded in 2018 with the support of the Quebec government, IVÉO’s mission is to accelerate the deployment of innovations in the smart and sustainable cities sector. Its network of innovative cities is now made up of nearly 80 cities and MRCs across the province. Its unbiased approach to brokering innovations has enabled the deployment of numerous innovation projects responding to over 115 municipal issues in sectors as varied as sustainable mobility, energy efficiency, sustainable water management and optimization of municipal operations.
