Montreal, March 15, 2023 — The financing initiative of Propulsion Québec, the cluster for electric and intelligent transportation (TEI), launched today during IMPULSION, Innovation Edition, the project Portrait & business opportunities of the TEI sector in Quebec. In partnership with Mouvement Desjardins, BDC, and CDPQ, a report on business investment opportunities as well as 2 guides devoted to financing the ecosystem were unveiled.
Two guides, new tools for financing TEI
The two guides were launched as part of IMPULSION, Innovation Edition, during the financing-focused day.
- The first guide, addressed to investors, is a review of business models, valuation methods and market opportunities in the electric and intelligent transportation sector. It helps increase the level of knowledge and interest of the Quebec and international investment community so that it can become more significantly involved with the companies in our industry. It also provides access to detailed data on hardware, software and operator models.
- The second is a guide to raising capital, dedicated to entrepreneurs in Quebec's TEI sector to support them in preparing to present their projects to potential investors. Fundraising has very specific codes and particular timelines that are key to successful investments and therefore to the development of start-ups. This guide details the considerations to take into account during a request, offers a template presentation to investors for a request, and addresses risk management for companies.
Report: The state of TEI and business opportunities in Quebec
This comprehensive report, aimed at companies, investors and institutions, details the state of TEI in Quebec. It provides a portrait of the ecosystem, its opportunities and highlights the unique role Quebec plays on the global stage: mobility trends, Quebec's specialization, government support, etc. It highlights the five promising niches of the sector: batteries, electric vehicles, charging infrastructure, connected and autonomous vehicles, and fleet management.
A fundamental need for financing to remain at the cutting edge of technology
The completion of the project Diagnosis of the financing chain in the electric and intelligent transportation (TEI) sector has made it possible to shed clear light on the financing-related issues. The alignment of this project and of Ambition TEI 2030 identifies two major objectives to be achieved for the ecosystem in terms of financing: increase the funding allocated to the different growth phases of companies in the TEI sector in Quebec and increase the attractiveness of the TEI sector from the investors' perspective by promoting the emergence of a virtuous cycle of growth for Quebec companies and the ecosystem. To help achieve these objectives, Propulsion Québec makes these three tools available to its members and actors in its ecosystem starting today.
“Quebec has incredible potential for electric and intelligent transportation. We have promising niches with strong commercial potential identified, value chains under development, clean electricity and emerging technologies. We now need investors to help members of our ecosystem commercialize their products and services and continue to innovate so that Quebec maintains its lead toward becoming a leader.”
“The fight against climate change is one of the greatest challenges of our time and it requires innovation and collaboration to have a meaningful impact. Quebec is home to many companies at the forefront of the electric and intelligent transportation (TEI) sector and Propulsion Québec supports this ecosystem by bringing more investors to the table and helping companies organize successful fundraising campaigns.”
“The electrification of transportation is not only essential to reduce GHGs, but also offers opportunities for innovation and responsible economic development for Quebec businesses. This partnership with Propulsion Québec allows us to position ourselves well to offer the best possible support to our members and clients in this transition. It is also another step toward the realization of our ambitious action plan that will enable us to achieve, by 2040, net-zero emissions for our extended operations and for the financing and investment activities of our own funds in three carbon-intensive key sectors: energy, transportation and real estate. In this regard, note that more than 375 electric vehicle charging stations have been installed in the parking lots of Desjardins branches and corporate buildings across Quebec and Ontario.”
The realization of the Portrait and business opportunities project of the TEI sector in Quebec is made possible thanks to the financial support of Government of Quebec, BDC, CDPQ, Desjardins, Fondaction, Greater Montreal Climate Fund, Mackinnon, Bennett & Co. (MKB) and Diagram Ventures.
