18 July 2016
$5M in Funding for Innovative Startups in Sherbrooke
Espace-INC and Desjardins-Innovatech have joined forces to offer a new funding program to young businesses located in Sherbrooke’s incubator and business accelerator.
With a budget of $5M to be spent over five years, the Desjardins-Innovatech Fund will support between three and five startups per year in their innovative product or service marketing projects.
Chantal Brunet, Desjardins – Innovatech Representative, Charles Martel, Desjardins Business Capital régional et coopératif Investment Director, Raphael Sanregrets, Innomalt, Karina Santana et Étienne Desmarais, Ecotierra, Gilles Blais, President of the Espace-inc Board
Innomalt and Ecotierra benefit from this funding
Two businesses in acceleration mode at Espace-INC—Innomalt and Ecotierra—have already benefitted from this financial support under this new partnership.
Founded in 2014 by Raphael Sanregrets and Pascal Viens, Innomalt specializes in producing premium quality malts for microbreweries in Québec and New England. Using a unique modular process that helps adapt the process to the grains, this business will be the first malting plant in Estrie to produce local malts. After this R&D phase, marketing will begin in the fall of 2016.
Ecotierra has also benefitted from the Desjardins-Innovatech Fund, which ended its global round of funding of more than $700 000 by handing over $350 000 to this business. The Fonds FilAction, along with two members from Anges Québec, have also invested in this business.
Ecotierra has offices in Sherbrooke, Peru, Colombia, and Ivory Coast, and develops sustainable agroforestry projects, which have socio-economic and environmental impacts, by managing Verified Carbon Standard (VCS) carbon credits.
Source : La Tribune, Anges Québec et Sherbrooke Innopole
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