Cycle Momentum and Innovacorp are announcing a new partnership to accelerate development of innovative clean technology companies in the start-up stages. With this partnership, the two organizations will leverage synergies between their respective networks of mentors, investors and start-ups.
Cycle Momentum and Innovacorp have worked together for many years. With this new partnership, they aim to strengthen ties by providing Innovacorp’s pipeline in Nova Scotia access to Cycle Momentum’s acceleration platform and by bringing Innovacorp’s venture capital fund into the Partner’s Fund Circle.
“This new partnership will help us take the Canadian cleantech ecosystem even further. We are pleased to join forces with our long-time partner Innovacorp and give them access to the Partner Fund’s Circle, a space in which financial actors mobilize to support the growth of the country’s most talented cleantech entrepreneurs."
— Patrick Gagné, President & CEO, Cycle Momentum
“Several Innovacorp portfolio companies have benefited in the past from acceleration support provided by Cycle Momentum. We are pleased to formalize the partnership to give start-ups access to expanded acceleration resources of the two partners and to have our venture capital team join the Partner’s Fund Circle to contribute to supporting the best and brightest cleantech entrepreneurs in Canada.”
— Malcolm Fraser, President & CEO, Innovacorp
Thanks to this new alliance, Cycle Momentum and Innovacorp can significantly enhance their mentoring, expertise, and networking offerings. The benefits of this new partnership include:
- Innovacorp alumni will have access to Cycle Momentum’s Partner Fund’s Circle.
- Members of the Partner Fund’s Circle will have access to Innovacorp investment pipeline.
- Innovacorp’s investment group will participate in the next Partner Fund’s Circle, in the fall of 2021.
- Innovacorp and Cycle Momentum will set up joint promotional programs for entrepreneurs.
About Cycle Momentum
Cycle Momentum offers accelerator and open innovation programs specialized in the clean technology sector. Founded by Cycle Capital, Cycle Momentum provides entrepreneurs with training workshops, networking sessions, and mentoring. Its team also works with larger businesses to stimulate technology acquisition and integration. Finally, Cycle Momentum promotes networking between investors and entrepreneurs to encourage the growth of the most promising companies in the clean technology ecosystem.
Innovacorp manages $90 million in investment funds for deep technology start-ups in Nova Scotia. In addition to venture capital investments, Innovacorp provides entrepreneurs with access to world-class incubation facilities, expert advice, and other assistance to help accelerate their businesses.
For more information, please contact:
Vice President of Sustainability, Investor Relations, and Public Affairs
514.495.1022 x 203
Montreal, November 23, 2021