MONTRÉAL — Quebecor president and CEO Pierre Karl Péladeau (above, left) and the Université de Montréal’s (UdeM) rector Daniel Jutras (right) announced today a $40 million donation that will be used to create a new training program and innovation hub at the university to support entrepreneurship in Quebec.
The donation, which is coming in equal parts from Quebecor and the Fondation Chopin-Péladeau, “reflects Mr. Péladeau’s desire to actively contribute to the development of the next generation of Quebec entrepreneurs,” reads a press release.
The Fondation Chopin-Péladeau is a private family foundation named after Péladeau’s parents, Raymonde Chopin and Pierre Péladeau, Quebecor’s founder. Pierre Karl Péladeau is the foundation’s president.
The $40 million will be used to fund Millénium Quebecor, “a comprehensive entrepreneurship awareness, training and support program,” and to construct the Pavillon Pierre-Péladeau building on UdeM’s MIL Campus, which will be “an innovation hub with state-of-the-art technology and a comprehensive, socially responsible approach,” the press release says.
“My father dreamed of becoming an entrepreneur in order to contribute to Quebec’s economic development,” said Péladeau, in the press release. Péladeau is a UdeM alumnus (Law 1987) like his father before him (Philosophy 1947).
“Our partnership with the Université de Montréal is our way of continuing his legacy and helping to build the Quebec of tomorrow. By backing the creation of a place for people to connect and the establishment of a new entrepreneurship program, we are doing all we can to support and advance members of the next generation. All of Quebec society will benefit — socially, economically and environmentally,” Péladeau said.
“More than ever, Quebec needs entrepreneurial spirit and scientific innovation to face the challenges of the present and future, to create wealth, and especially to ensure its financial, material and social autonomy,” said Jutras, in the release.
“I sincerely thank Pierre Karl Péladeau and Quebecor for demonstrating their confidence in the next generation with this historic donation. This gift will enable us to concretely support our young people’s entrepreneurial success.”
The Millénium Quebecor program “will capitalize on the excellence and diversity of education and research at the Université de Montréal to give students early exposure to entrepreneurship and help foster the emergence of a new generation of entrepreneurs,” the press release says.
Students and researchers will be able to draw on the support of a team of experts “to help turn their business ideas into reality.”
A start-up assistance fund will also be established, with financial support from Quebecor, “to stimulate business development in Quebec and promote the growth of our innovation ecosystem.”
UdeM’s goal “is to accompany young entrepreneurs on their journey and make entrepreneurship and innovation a core component of education at the University,” the release says.
Construction of the Pavillon Pierre-Péladeau will begin when all government approvals have been received, the release says. When completed, the building will house the Millénium Quebecor program and the future Centre d’innovation de l’Université de Montréal, “an innovation centre dedicated to accelerating the development of new ideas, the growth of entrepreneurial activity, and the realization of the economic and social benefits of innovation.”
“It will be a place where the know-how of business builders, the expertise of researchers and innovation specialists, and the enthusiasm of UdeM student-entrepreneurs will come together within a concerted, responsible approach.”
Until the building is finished, aspiring entrepreneurs, mentors and support services will be accommodated in rented space near the MIL campus set to open in spring 2022, according to the press release.
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Photo borrowed from the Université de Montréal’s website.
