Annual General Meeting | INO Creates a 36th Technology Company

The establishment of a company dedicated to air quality, particularly in densely industrialized areas, was made possible through the INO-Studio program, an initiative that lays the solid foundations of a high-tech company and encompasses all phases of startup, from product development to financing, to the implementation of a business plan.

$4.6 Billion in Direct Impacts Over 10 Years

An independent study conducted this year revealed that INO’s cumulative direct economic impact for the 10-year period from 2014-2015 through 2023-2024 is estimated to be at least $4.6 billion. In addition to this significant contribution to the Canadian GDP, the same study concluded that every government dollar invested by INO generated $21 in economic impacts. This performance, significantly higher than the average ratio of more academically oriented research centers, eloquently demonstrates that industrial innovation centers like INO are valuable tools for government bodies seeking to increase commercialization and wealth creation from their substantial investments in public research.

Business Incubation is Thriving

The Quantino incubator, launched by INO in 2020, continued its growth by welcoming nine new tech startups from increasingly diverse backgrounds. Thus, the facilities are operating at full capacity. Furthermore, thanks to a collaboration with the CHU de Québec–Université Laval, the support offer has been expanded to companies developing technologies to prevent, diagnose, and treat cancer and immune diseases, as well as to promote regenerative medicine and women’s health.

New Directors Join the Board

Three experienced directors, Denis Faubert, Hugues St-Pierre, and François Giroux, completed their terms on the INO board of directors. To replace them, the members elected Marjolaine Giasson, Senior Vice President and Chief Financial Officer at La Maison Simons, Michel Leblanc, R&D Director at EXFO, and Yan Plante, President and CEO of RDÉE Canada. 

According to Alain Chandonnet, President and CEO of INO, “despite the more challenging context where R&D investments have recently declined by 4.1% in Canada, INO has multiplied its efforts to better align its technological choices with market needs. The team has also forged important partnerships with the Montreal Computer Research Center to stimulate the adoption of artificial intelligence in business and with the MiQro Innovation Collaboration Center to develop the semiconductor industry. The quality of INO’s products and services is recognized, and the economic impacts generated by the organization in industrial sectors are very real”.