Axelys, the commercialisation firm set up by the provincial government of Quebec, will have an additional C$38 million at its disposal over the next several years.
The money includes a C$20 million commitment via a government decree, with the capital to be deployed over the next three years.
The remainder was allocated in the Quebec government’s 2026-27 budget, published in March, which also renewed Axelys’s operating agreement. That money will be deployed over the next two years.
A significant portion of the capital will be redistributed to research institutions in the Canadian province to:
- accelerate the transfer of innovations resulting from public research;
- strengthen the protection and strategic management of IP;
- support the creation and growth of innovative companies;
- promote the adoption of innovations by industry, organisations, and end-users;
- maximise the economic and social benefits of public research;
- provide specialist commercialisation expertise.
“The announced investment reflects the growing importance placed on the commercialisation of public research as a driver of innovation and economic development,” says Jesse Vincent-Herscovici, president and CEO of Axelys. “By strengthening Quebec’s commercialisation capabilities, the government is helping to accelerate tech transfer, better protect the IP generated by our research institutions, and generate greater benefits for Quebec.”
Axelys was launched in April 2021, unifying the functions of three separate tech transfer organisations – Aligo Innovation, Univalor, and Sovar. Representatives from multiple universities across Quebec sit on its board of directors.
Note: Jesse Vincent-Herscovici’s comment was translated from French by The Next Leap.
