Montréal International and Québec International join forces to boost foreign direct investments in Life Sciences and Health Technologies

Montréal International and Québec International have joined forces to promote Québec’s advantages and its Life Sciences and Health Technologies (LSHT) industry to foreign investors around the world. With Dominique Anglade, Deputy Premier of Québec and Minister of Economy, Science and Innovation, and Gaétan Barrette, Minister of Health and Social Services, in attendance, a new video highlighting the appeal of the sector was launched before 150 partners and key players from the LSHT ecosystem.

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“The Life Sciences and Health Technologies industry is a bedrock of Québec’s future economy. In the past five years, foreign companies have already invested over $1 billion. We need to bank on this very promising sector that revolves around innovation, collaboration and a multidisciplinary approach. We also need to show the world how unique, ambitious and visionary is our LSHT sector,” said Hubert Bolduc, President and CEO of Montréal International.

The video, featuring several ambassadors and champions from the LSHT ecosystem, provides a picture of this innovative and interconnected industry, which has had to reinvent itself with new business models. “This new promotional tool is a platform for explaining what motivated these health companies to choose Québec for expansion in North America, and to promote the critical mass of leading-edge companies that make up the wealth of our ecosystem,” stated Christelle Fasano, Director, Business Development – Life Sciences and Health Technologies, at Montréal International.

“First, I am very grateful to the industry players who have opened their doors and generously agreed to contribute to the success of this initiative. Yes, success is certain for our industry. Our ecosystem is robust since it is founded on leading research, an outstanding business environment and the talent and ambition of all players. All these factors push our industry to be among the top in the world,” added Carl Viel, President and CEO of Québec International.

Andy Sheldon, Head of New Ventures at Medicago, and Chairman of the Board of Québec International, stated the importance of supporting this sector and to believe in its potential: “Access to the best talent, research funding, support with marketing and innovation, and our capacity to attract capital and international players are key to Québec gaining an even more prominent standing and for our industry to continue developing.”

On May 5, Minister Anglade had unveiled the new Québec Life Sciences Strategy with $205 million in funding over the next five years, in order to attract $4 billion in private investments by 2022.

“Québec is a fertile ecosystem for business collaboration and solid research in the Life Sciences. Mobilizing all the key players in this industry is key to ensuring Québec will always be a prime location for investments. Accordingly, we have set up the Québec Life Sciences Strategy, which will raise Québec up among the top five LSHT hubs in North America by 2027. This promotional video will help achieve this goal by highlighting Québec’s assets to the whole world,” said Dominique Anglade, Deputy Premier of Québec, Minister of Economy, Science and Innovation, and Minister responsible for the Digital Strategy.

“Innovation is a driver of change through which we can optimize and improve everyone’s quality of life, especially when it applies to the health and social services network. I welcome this initiative by Montréal International and Québec International, whereby these two agencies join forces to enhance Québec’s profile. This will certainly result in significant benefits, especially for patients,” said Gaétan Barrette, Minister of Health and Social Services.

To watch the video: www.youtube.com/watch?v=FiKeYKBks1Q

Produced by TCB Médias (Martyrs, Funkytown, Des jeunes gens modernes), the video was made by Montréal International and Québec International, in partnership with Fonds de solidarité FTQ, the Biotech City, Merck Canada, Medtronic Canada, Montréal InVivo, Tourisme Montréal, BIOQuébec and the Ministry of Economy, Science and Innovation.

Highlights:

  • The Life Sciences and Health Technologies sector comprises over 650 companies and 56,000 jobs in Québec, including nearly 31,000 industrial jobs.
  • Each year, 10,000 students graduate from health related programs.
  • More than $10 billion have recently been invested in leading-edge infrastructures, including research centres and new hospitals, such as McGill’s MUHC, CHU de Québec, Université de Montréal’s CHUM, and the CHU Sainte-Justine pediatric hospital.

About Montréal International
Established in 1996, Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal and the City of Montréal. Its mission is to attract foreign investment, international organizations and skilled talent to Greater Montréal by providing assistance services tailored to their needs.

About Québec International
Québec International‘s mission is to contribute to the economic development of the Québec City metropolitan region and enhance its international status. As a regional economic development agency, Québec International fosters growth and development, supports key business sectors and attracts talent and investment to the region.

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