Quebec which until now didn’t have a recognised business angel culture will see millions poured into new and growing businesses.
In the recent budget measures were put in place to encourage angel investors to invest as well as invest $900 million over 10 years as part of a new “digital economy strategy”.
Business angel fund, Capital Anges Québec is currently being set up with Investissement Québec adding a further $20 million. Individual business angels will be expected to help mentor young entrepreneurs as part of the range of measures to boost entrepreneurialism in the state.
The fund’s primary purpose is to invest in the information and industrial technology sectors.