This past year the CTS continued to make great strides to position itself at the heart of the Quebec ecosystem for supporting start-ups in the medical technologies sector. Over the past two years with the support of the Board and under the leadership of the CTS President, Yvan Beaudoin, we have been able to establish a unique value proposition that filled an important gap in the growth of start-ups in this field. With our focus on an à la carte program that is tailored to the specific needs of individual companies and their founding teams, CTS has been able to provide tailored financial support and a structured mentoring program that is aimed at ensuring our companies refine their go-to-market strategies to focus on what matters most for achieving sales in the medical technologies field and ultimately achieve the traction necessary to become self-funded or raise their value and become very attractive to investors in future rounds of financing.
The proof of CTS’ value is reflected in the number of companies financed in the past 18 months and the strong pipeline of other companies being evaluated and mentored. Moreover, the real test of the success of our programs lies in the fact that other institutions have taken notice. This has resulted in our start-ups leveraging CTS to access additional funds, often at a 3:1 ratio – finding $3 for every $1 invested by CTS.
An organization like CTS cannot exist nor succeed without the help of great partners. These include our financial partner Desjardins Capital who has been with CTS from its humble beginnings and has continued to believe in the strong potential of the medical technologies industry in Quebec. Their continued support demonstrates Desjardins’ vision and is a testament to their belief in the need for a strong entrepreneurial ecosystem and the impact that a vibrant medical technologies industry can have on the Quebec economy. Our other partners are also key because they bring their expertize, best practices and extensive networks to be leveraged by our companies. My thanks to Fasken Martineau, CNRC, PWC, Leeroy and Triode for their continued support.
An active Board makes for good governance and a well-supported President. I would like to recognize the hard work and dedication of CTS’ Board members who give their time and energy in support of CTS and its mission. I would also like to welcome our new Board member, Miriam Pozza whose professional experience will be of great benefit.
The Future is Now
Looking forward, the future for Quebec’s start-up in the medical technologies field looks very bright. The recently announced Quebec Life Sciences Strategy 2017-2027 “Innovation Comes to Life” by the Quebec government fills a long-standing gap for our entrepeneurs. This new program makes best use of the government’s resources by partnering with the private sector and freeing up resources and funds to address 4 key areas: (1) increased investment in research and innovation, (2) supporting the creation of companies and helping them sustain their growth, (3) attracting private investment, and (4) giving access to our start-ups to Quebec’s health and social services network. On behalf of our entrepreneurs, thank you!
The CTS stands ready to continue to work with all levels of government and the private sector ecosystem in Quebec to ensure that, together, we grow and sustain a vibrant and dynamic medical technologies and life sciences sector.