North America’s largest co-operative financial group to provide $500,000 for top prizes in entrepreneurial competition It’s partnering with McGill University to give a boost to research-based innovation. Desjardins Group is committing $500,000 over five years to the McGill Innovation Fund (MIF) the biggest entrepreneurial competition at McGill. 

$100,000 in prizes to winning teams each year in the Deploy stage will be funded; said another way, that’s teams where their commercialization plan is underway and they can show the beginning stages of substantial potential for things to go much farther. 

Within three years of operating, the MIF has emerged as a significant accelerator of entrepreneurial activity, catalyzing the formation of 10 startup companies based upon McGill-generated intellectual property, all of which are headquartered in Quebec. 

Desjardins’s gift was announced during a networking event Sept.18 that included a fireside chat between Deep Saini, President of McGill University and Guy Cormier, President and CEO of Desjardins Group. The two leaders affirmed their commitment to innovation and the economic growth it will drive in Quebec region. The discussion was moderated by the VP Research & Innovation Mr Dominique Bérubé. 

Entrepreneurship forms the bedrock of our collective wealth. That’s why I believe it’s important that all players in the innovation ecosystem work to contribute to creating a climate that sparks and brings to life new ideas,” said Guy Cormier, President and CEO of Desjardins Group. “We are happy to contribute CAD 500,000 over five years to accelerate innovative business ventures that will boost Quebec’s economic position.” 

A giant leap forward to strengthen and maintain an innovation ecosystem from which all of Quebec will benefit,” stated McGill University President Deep Saini regarding the sponsorship from Desjardins.