Centech opens 10 new innovation spaces, receives $625,000 to assist startups

Montreal-based incubator Centech has announced the opening of 10 new innovation spaces, looking to offer access to the Centech team for R&D programs, intern recruitment, and researchers for technology innovation.

Centech also received $625,000 in funding from the Quebec Ministry of the Economy and Innovation, to go towards helping develop startups in the region.

The innovation spaces are located at Centech in Montreal, with each space being 600 sq. ft. The spaces are geared towards large corporations with a focus of accelerating startup success, according to Centech.

RELATED: Centech announces ten companies for Propulsion winter cohort

“The purpose of this program is to use major company drivers to generate high-impact tech innovations using the creativity and genius of students, experts, and innovative young companies,” Richard Chénier, CEO of Centech said. “The goal is to create marketable products and design concrete solutions for the company.”

“The program will use major company drivers to generate tech innovations using the creativity and genius of innovative young companies.”

Centech said that it is important to create an environment in Montreal for open innovation catering to major organizations. Companies in the new spaces have access to activities, conferences, and workshops provided by Centech. Organizations such as CAE, Port de Montréal, and Siemens have confirmed their presence in the new innovation spaces.

“The program created by Centech will promote exchanges among the preeminent players in the public and private sectors, technology entrepreneurs and the research community,” said Minister of Economy and Innovation, Pierre Fitzgibbon.

Centech assists tech startups with high growth potential to scale their company through mentoring, access to laboratories and workspaces, and equipment.

Of its $625,000 in funding from the ministry, $225,000 will be used to add companies to Centech’s Industry 4.0 cohort, specializing in construction technology and agrotechnology. The goal of the program is to create more than 15 high-tech SMEs by 2021. The other $400,000 will go towards the Collision Centech—Excubation project, which focuses on having major companies work closely with startups.

Last year, Centech announced six companies for its fall cohort with Propulsion, its two-year accelerator program. In December, they named 10 companies for its winter cohort. Just last June, Centech and Starburst launched a Montreal-based accelerator dedicated towards aerospace technologies.

Featured image via Pixabay.

Sera Wong

Sera Wong

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