MONTRÉAL, May 17, 2021 /CNW Telbec/ - Cycle Momentum (formerly Accélérateur Ecofuel), founded by Cycle Capital, and Hydro-Québec are proud to announce the launch of the Open Innovation Challenge: Greenhouses as part of Écotech Québec's Semaine de l'économie verte [Green Economy Week]. The Challenge was created to promote the development and integration of technologies designed for optimal environmental and energy management within the context of greenhouse farming. This initiative aims to support Québec's transition toward food self-sufficiency.
Today, Cycle Momentum and Hydro-Québec are launching a call for expressions of interest (EOI) to the agri-food business ecosystem. The two companies are looking for start-ups and SMEs that offer innovative technologies designed for the greenhouse farming industry—systems designed to manage energy, lighting, heating, ventilation, air-conditioning, heat recovery, irrigation, humidity control, etc. The deadline for submitting an EOI is July 2, 2021. For more information, refer to the greenhousesinnovation.ca website.
The businesses selected will receive assistance from Cycle Momentum and Hydro-Québec in developing and implementing their solution. They will also have the possibility of creating a pilot project directly involving greenhouse growers.
In addition, Québec's Ministère de l'économie et de l'innovation will support the businesses selected through the Appui aux jeunes entreprises innovantes à fort potentiel de croissance – Primo-adoptants program. The program is associated with a financial contribution from the Québec government of up to $50,000 per business or 50% of eligible expenses paid to a start-up for the creation of pilot projects. The businesses are required to meet the program's eligibility criteria.
For more information about the criteria, objectives and advantages of the Open Innovation Challenge: Greenhouses, join the Green Economy Week webinar on May 19.
The Open Innovation Challenge: Greenhouses is presented by Hydro-Québec and Cycle Momentum, with the collaboration of Écotech Québec, the Zone Agtech and Bonjour Startup Montréal.
"As part of the economic recovery, the Quebec government recently unveiled the 2020-2025 Greenhouse Growth Strategy, which aims for greater food independence in Quebec. The initiative of Cycle Momentum and Hydro-Québec makes a concrete contribution to this vision through the deployment of innovative and clean technologies that create wealth and allow our greenhouse companies to improve their energy efficiency and reduce greenhouse gases." -Jonatan Julien, Minister of Energy and Natural Resources, Government of Québec.
"In recent years, food self-sufficiency has become a key issue for Quebecers. The Challenge will help us to stimulate innovation in the greenhouse farming industry in Québec and therefore help to meet that goal as part of the energy transition." -Simon Racicot-Daignault, President of InnovHQ, a Hydro-Québec subsidiary that was created to stimulate innovation and develop business opportunities designed to accelerate the energy transition.
"With the Challenge, we have the opportunity to create a catalyst for the innovation and development of groundbreaking technologies in a rapidly growing sector—greenhouse farming. To do so, we are collaborating with Écotech Québec, Zone Agtech and Bonjour Startup Montréal, who will help promote this business opportunity among talented entrepreneurial teams that develop technologies in the greenhouse sector." -Patrick Gagné, President and CEO of Cycle Momentum
Hydro-Québec generates, transmits and distributes electricity. It is Canada's largest electricity producer and ranks among the world's largest hydropower producers. Its sole shareholder is the Québec government. It uses mainly renewable generating options, in particular large hydro. Its research facilities, collectively called Institut de recherche d'Hydro-Québec (IREQ), conduct R&D in energy-related fields, including energy efficiency and storage. InnovHQ, a Hydro-Québec subsidiary, was created to stimulate innovation and develop business opportunities designed to accelerate the energy transition.
To learn more: hydroquebec.com
About Cycle Momentum
Cycle Momentum (formerly Accélérateur Ecofuel) offers acceleration and open innovation programs dedicated to the cleantech ecosystem. Founded by Cycle Capital, Cycle Momentum offers entrepreneur training workshops, networking sessions and mentorship, and collaborates with established companies to stimulate technology acquisition and integration. The company facilitates networking between investors and entrepreneurs to promote the development of the most promising cleantech companies.
Cycle Momentum can count on the financial support of Energy Transition Québec, the Green Fund, Cycle Capital, Fasken, the City of Montreal and ScaleAI. Cycle Momentum also benefits from the collaboration with Écotech Quebec, Zone Agtech and Bonjour Startup Montreal. Cycle Momentum is part of the innovative Cycle Capital family.
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