A new partnership agreement has been signed between Université de Montréal (through its innovation and entrepreneurship hub Millénium Montréal), Polytechnique Montréal and the venture capital firm Celesta Capital.

Under this agreement, emerging entrepreneurs and research teams from both educational institutions will benefit from Celesta Capital’s strategic advice on bringing advanced technologies to market and creating start-ups. The firm will also support them through the often complex steps involved in maturing university-developed technologies.

Founded in 2013, Celesta Capital has built a portfolio of more than 100 early-stage technology investments. The firm is expanding its presence within Canada and in this context, UdeM and Polytechnique Montréal are its second university partners in the country, following McMaster University. Both institutions offer highly fertile ground for innovation, not only because of the number of scientific projects they generate, but also the quality of the research carried out there.

"Celesta continues to expand our presence in Canada, partnerships like this offer a front-row seat to the very best commercial opportunities emerging from Canada’s world-class university research.” - Nic Brathwaite, Celesta Founding Managing Partner

In a recent speech at the Canadian Club, UdeM rector Daniel Jutras summed up the challenge: “The situation is well known: Quebec stands out for the quality of its research, but it still struggles to turn its inventions into innovations. Moving ideas from the lab to the marketplace remains a major hurdle.”

“Université de Montréal is home to many highly qualified innovators who lead top-tier research projects,” adds Vincent Poitout, UdeM's vice-rector of research and innovation. “We need to do more to support them when they want to move their results from fundamental science to applied science. That is exactly what this partnership with Celesta will allow us to do. Our teams will be able to draw on their expert advice, and this will help Millénium Québecor meet its objectives.”

“Polytechnique Montréal draws on a strong culture of innovation and entrepreneurship that allows us to transform ambitious scientific projects into concrete solutions that address societal needs,” notes François Bertrand, the institution's Vice-President research and innovation. “In particular, our Lassonde Deeptech Institute will offer fertile ground for talent and technologies with the potential to reshape the economy. We are convinced that the human and financial contribution of Celesta’s teams will be a powerful lever to accelerate the emergence of major innovations and multiply our success stories.”

“Canada has extraordinary technical talent, and institutions like Université de Montréal and Polytechnique Montréal are among the country’s most powerful engines of innovation,” said Nicholas Brathwaite, founding managing partner of Celesta Capital. “Our goal is to collaborate with entrepeneurs to navigate the path from lab to market and help translate breakthrough ideas into globally competitive companies. As Celesta continues to expand our presence in Canada, partnerships like this offer a front-row seat to the very best commercial opportunities emerging from Canada’s world-class university research.”

The partnership aims to foster the development of a sustainable ecosystem of innovative technology start-ups. It will promote innovation, support early-stage companies and researchers in commercializing their intellectual property, and help expand interactions and opportunities between technology hubs and venture capital networks in Canada and around the world.

Ultimately, this collaboration is expected to make start-ups that emerge from the UdeM and Polytechnique campuses more attractive to investors—a key advantage, and an area of highly sought-after expertise.

‍