The Quebec government grants $8 million to IVADO to consolidate the Quebec artificial intelligence (AI) ecosystem

Montreal, May 13, 2024 – IVADO and Université de Montréal were pleased to welcome Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montréal Region, to Université de Montréal’s Complexe des Sciences, where he announced a financial contribution of $8 million until 2026 to IVADO for the deployment of new collaborative research and innovation programs.

“To ensure Quebec’s leadership in AI, we need to give companies easy access to the fruits of industrial research and encourage more SMEs to adopt these new technologies. We are proud to support the IVADO consortium, which contributes to developing a pool of talent and strengthening Quebec’s AI ecosystem,” stated Pierre Fitzgibbon.

The consortium, led by Université de Montréal and federating 4 university partners (Polytechnique Montréal, HEC Montréal, Université Laval and McGill University), will develop new programs to provide support to Quebec companies and organizations in the adoption and implementation of research-based artificial intelligence solutions, thereby supporting their digital transformation. This financial assistance will also help cover part of the consortium’s operating costs.

By bringing together partners from academia and industry around a mobilizing project, IVADO promotes the commercialization of research-based innovations and the emergence of Quebec companies in the field of artificial intelligence, in addition to enhancing their competitive edge on the international scene. The various projects undertaken by IVADO and its partners also lead to the creation of highly qualified, well-paying jobs.

“Université de Montréal is a leader in artificial intelligence research and knowledge mobilization, both in Quebec and beyond its borders. The mission pursued by IVADO is essential to ensure that Quebec companies and organizations benefit from the innovations developed within universities, and that they can benefit from the work begun many years ago by pioneers such as Yoshua Bengio”, added Daniel Jutras, Rector of the Université de Montréal.

“We are grateful for the support shown by the Quebec government through this eight million in funding, illustrating our shared commitment to stimulating innovation in artificial intelligence in Quebec. Our work is in line with the government’s bold vision and determination to make Quebec a world leader in responsible and innovative AI. This collaboration between IVADO, Université de Montréal and the ministry is one more step towards a future where AI will be a powerful lever of economic, social and cultural development for Quebec, its people and its organizations,” concluded Luc Vinet, CEO of IVADO.

A discussion on supporting companies in adopting robust, reasoning and responsible AI, and on the impact of IVADO initiatives was then held by several partners and flagships of Quebec entrepreneurship and industrial research: Alain Lavoie (LexRock AI), Amanda Arciero (Airudi), Yves Daoust (Ferme d’Hiver), Marjorick Foisy (Centech) and Annie-Kim Gilbert (MEDTEQ+).

Read the press release from the Ministry of Economy, Innovation and Energy (in French): https://www.quebec.ca/nouvelles/actualites/details/consolider-lecosysteme-quebecois-de-lintelligence-artificielle-appui-de-8-m-au-consortium-ivado-pilote-par-luniversite-de-montreal-55784