Montreal, November 12, 2024 – Cycle Momentum, a member of the Cycle Capital platform and an international accelerator dedicated to innovation in climate technologies is among the 13 non-profit organizations in Quebec selected to receive financial support from Canada Economic Development for Quebec Regions (CED). This funding, totaling $16 million in non-repayable contributions over four years, will enable Cycle Momentum to continue its mission of accelerating start-ups and supporting the growth of impact-driven, innovative businesses.
With this federal support, Cycle Momentum will continue to provide entrepreneurs with the resources they need to develop solutions addressing major environmental challenges. By collaborating with industrial leaders and regional partners, Cycle Momentum strengthens Quebec’s innovation ecosystem, maximizing both economic and environmental impacts across the regions.
“Our government has always been committed to boosting regional economic development through innovation. That is why I am delighted with this new support from CED for Cycle Momentum and 12 other Quebec organizations offering incubation and acceleration services. Initiatives such as this one generate major economic spin-offs in the different regions and have a direct impact on communities, while also focusing on a greener economy. Emerging businesses are key assets in building an economy that is stronger, more resilient, more sustainable and more inclusive. By mobilizing together, we will enable them to reach their full potential.” The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED.
“This support from DEC is a valuable lever that will allow us to continue developing our support services for climate tech start-ups, with the goal of accelerating the commercialization of their innovations over the next four years. We are pleased to contribute to the Quebec ecosystem by developing partnerships with regional organizations and industrial players addressing climate challenges in strategic sectors such as mining, smart mobility, agriculture, and renewable energy.” Patrick Gagné, CEO of Cycle Momentum.
About CED
CED is a key federal partner in Quebec’s regional economic development. With its 12 business offices, CED accompanies businesses, supporting organizations, and all regions across Quebec into the economy of tomorrow, one that is greener, more inclusive, and move innovative. As a facilitator helping to bring the right partners together around a given project, CED goes beyond just funding promising projects. CED represents an expertise, a network, and investments that support innovation, competition, and growth among businesses and Quebec’s regions to ensure our economy prospers in the long term. For more information: CED funding initiatives and programs
About Cycle Momentum
Cycle Momentum is an international acceleration and innovation platform whose mission since 2015 has been to identify and support the development of cutting-edge technologies to address the major ecological challenges facing humanity. A member of the Cycle Capital platform, Cycle Momentum offers acceleration and open innovation programs to support entrepreneurial growth, financing and commercialization of climate technologies. We establish the necessary collaborations between industrial leaders and start-ups to accelerate the commercialization of their solutions. Cycle Momentum invests through Origo, an investment matching program supported by the Government of Quebec.
