BDC-Bpifrance pilot project opens European markets for Canadian SMEs
MONTREAL, November 18, 2024 - BDC, Canada’s bank for entrepreneurs, has launched an innovative pilot project aimed at fostering new business opportunities. This initiative will facilitate targeted introductions between Canadian companies and their counterparts in France and Europe within the technology sector.
BDC signed an agreement with Bpifrance to test EuroQuity, Bpifrance’s digital platform that connects innovative companies with potential investors and strategic partners in France and the European Union. Ten Canadian companies are participating in the pilot.
“This pilot exemplifies the potential of collaboration between development banks for the benefit of their clients,” said Geneviève Bouthillier, Executive Vice President, BDC Capital. “Throughout our 80-year history, we have steadfastly adhered to our mission of making a meaningful impact where it matters most. Breaking into new markets can be daunting for SMEs and, as Canada’s development bank, it is our mission to make it easier for them to grow. This pilot will connect Canadian SMEs to new European opportunities, provide expert business advice, and offer essential financing.”
With the backing of the European Commission, Bpifrance has successfully piloted 20 European projects through EuroQuity, demonstrating its dedication to broadening opportunities for entrepreneurs globally. Initiatives like Africa Next and ENRICH in Africa have been instrumental in bridging European and African markets. These projects highlight EuroQuity's success in fostering connections between companies and investors, thereby strengthening entrepreneurial ecosystems across multiple continents.
“At Bpifrance, one of our key objectives is to connect the French and European entrepreneurial ecosystems with those around the world,” said Pascal Lagarde, Executive Director of International, Strategy, Research, and Development at Bpifrance. “Entrepreneurs are at the core of our mission, and we strive to facilitate their networking, understanding that business expansion flourishes in a supportive environment. This partnership with BDC is crucial and marks the beginning of a more global movement for us. By enhancing EuroQuity's global reach, we are committed to creating new business opportunities, enabling joint ventures, and fostering collaborations across Europe, Africa, and Canada.”
Memorandum of Understanding with Bpifrance
The pilot follows a Memorandum of Understanding between BDC and Bpifrance, signed on April 10, 2024, during the French Prime Minister’s visit to Canada, to strengthen collaboration in support of entrepreneurs in Canada and France.
About BDC: 80 years as Canada’s bank for entrepreneurs
BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC’s development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive. The financial value of BDC’s services is estimated to add $23.6 billion in GDP to Canada’s economy over the next five years. We are one of Canada’s Top 100 Employers and Canada’s Best Diversity Employers and the first financial institution in Canada to receive the B Corp certification in 2013. For more information on our products and services and to consult free tools, templates and articles, visit bdc.ca or join BDC on social media.
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