Start-up: Will Montreal rejoin the world peloton?

[Photo: Annie Spratt sur Unsplash]

The ecosystem of start-ups in Montreal is struggling to re-emerge in the prestigious top 20 of Global Startup Ecosystem Reportpublished by Startup Genom.

Every two years, this American company located in Oakland, in Silicon Valley, publishes a global top 20 of the most dynamic ecosystems on the planet, measuring various indicators such as knowledge, internationalization or interaction.

Montreal only came out of this top 20 once, in 2015, when the city was ranked 20th – it’s impossible to know where it is at the moment.

“The goal is to re -enter the top 20 in 2021”, explains Les Affaires Liette Lamonde, general manager of Montreal Foundation Inc.., on the sidelines of Global Entrepreneurship Week, Nov. 12-16.

Montreal Inc. helps young entrepreneurs by awarding more than $ 700,000 in scholarships each year.

This foundation and the OSMO Foundationsupporting the development of the city’s start-up ecosystem, has been selected by the Quebec government to create an innovation hub in Montreal.

OSMO at Montreal Inc. will focus on three areas to improve Montreal’s ecosystem.

In fact, the start-up community began to think about this approach during the State of Montreal’s start-up ecosystem in July, based on weaknesses identified in The city’s Startup Genom report.

AXIS #1 – Make start -ups in Montreal even more international

“It’s a general weakness,” Liette Lamonde drops. Too many start-ups remain confined to the Quebec and Canadian markets, where it would be in their interest to target the international market as well.

In an attempt to correct the shot, the Quebec Deposit and Placement Fund has, for example, offered to share its global network with Montreal start-ups.

For its part, Montreal International recently created a new position to attract foreign start-ups to the metropolis. An approach that makes it possible to create links with other ecosystems in the world.

Axis #2 – Increase “collisions” with the environment

Montreal Inc. and OSMO wants to emphasize “collisions” or encounters between traders, especially at events. And we will never leave things to chance.

“We want to fix these collisions,” Liette Lamonde said. For example, based on their profile and potential synergies, Montreal inc. and OSMO may propose that entrepreneurs meet at events.

To promote these collisions, the ecosystem of innovation cells can also be set up in partnership with large companies.

Axis #3 – Stimulate community spirit

The goal is to promote mutual aid and the sharing of great ideas in the Montreal ecosystem. “How can we encourage this spirit, to give or pass on to others?” asked Liette Lamonde.

For example, in Toronto’s start-up ecosystem, an entrepreneur’s first instinct when meeting with others is often to say, “How can I help you?” French-speaking Quebecers are not really in this state of mind, according to Liette Lamonde.

Developing this reflex is quite a challenge, as the spirit of this community is more prevalent among Anglophones for socio-cultural reasons.

Even the Montreal ecosystem is not in the top 20 of Global Startup Ecosystem Reporthe still has strength, Liette Lamonde insisted.

For example, with respect to the “state of mind of business founders” indicator, which measures the ambition of entrepreneurs, Montreal has a score of 27%, while the world average is 20%.

In terms of knowledge, Metropolis is almost on average, with a score of 4.6% compared to 4.8% for all start-up ecosystems on the planet.

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