25 January 2016

The City of Sherbrooke has continued to pursue its commitment to entrepreneurship by contributing to the creation of Université de Sherbrooke’s entrepreneurship hub, one of the large-scale initiatives in the university’s Promising Futures, Shared Passions fundraising campaign.

The city’s contribution will consist of compensations in lieu of taxes generated by new facilities built on the university’s campus. In addition, the city has committed to allocate a minimum of $350,000 per year in compensations in lieu of taxes for the buildings designated in the previous agreement.

In doing so, the city could contribute up to $6 million over a 10-year period.

It is worth noting again that the Université de Sherbrooke plans to invest $60M in the entrepreneurship hub initiative over a 10-year period. It aims to triple its research partnerships, double the number of inventions in the marketing phase, and double the number of spin-off companies in the Accélérateur de création d’entreprises technologiques (ACET—accelerator for the creation of technological businesses).

Sources: Université de Sherbrooke and La Tribune

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