Bio-Innovation fund

This document was prepared with the information on the Centre québécois de valorisation des biotechnologies'  Web site.

The CQVB offers financial assistance and support for technological development (via the Bio-Innovation fund) enabling companies to establish proof of concept, scale up processes, ensure the protection and use of intellectual property (IP), specify competitive advantages and market niches, structure the enterprise, and determine the best commercialization strategy and business model.

Eligibility Criteria

Eligible companies are SMEs in the bio-industries sector in the fields of nutrition/health or sustainable development. The SME must fit into one of the following categories:

• An emerging technology company;
• A technology company newly created by a scientific entrepreneur or industrial sponsor;
• An existing company wishing to develop or adapt a new technology.

Eligible Activities

The projects must:

• Be in the early technology development stage and have a high innovation and R&D content.
• Be based on the transfer of knowledge, know-how, or technologies from a research laboratory or centre in the public or private sector, the higher education network, or another industry; the transfer may take a variety of forms, including:
  • The acquisition of property rights (patents, license);
  • A development strategic alliance;
  • An R&D contract;
  • The hiring of scientific or technical personnel (researchers, students);
  • The appropriation or acquisition of a technology (machinery and equipment).
• Ensure economic viability and stand out from the competition.
• Present the quality of sponsors, a development vision, and an appropriate organizational structure.
• Clearly identify the financial needs and require a contribution from other partners at least equivalent to that of the CQVB.

Summary

The presentation of a technology development project usually takes the form of a business plan.  This plan must include full details (compared to the presentation of a positioning project) of the project, as follows:

• The company and its resources
• The scientific interest and technologies involved in the project
• The operating plan
• The commercial plan
• The financial plan

Terms of investment

The financial participation of the CQVB is repayable, with a return proportional to the nature and risk of the project.  The required return is linked to high risk technology projects in an early development stage and serves to partially compensate the CQVB for the time devoted to professional support.

The CQVB’s financial participation in a project may take the form of one or more of the following:

• Unsecured loans (venture or term loan)
• Debentures (convertible or not)
• Acquisition of common or preferred stock

If the risk is too high, the CQVB may take out a movable hypothec on the technology.

For more information, consult the Web site at http://www.cqvb.qc.ca/services.htm (In French only)

Quebec Contact(s):
Centre québécois de valorisation des biotechnologies (CQVB)
Suite 620
Édifice Le Delta II
2875 Laurier Boulevard
Sainte-Foy, Quebec  G1V 2M2
Telephone: 418 657-3853
Fax: 418 657-7934
E-mail: cqvb@cqvb.qc.ca