Press release | BXVentures and McGill sign a new partnership aimed at creating cleantech spin-offs
May 12, 2023
BXVentures, Canada’s first venture studio dedicated to cleantech is proud to announce a new partnership with McGill University. The aim of this partnership is to increase the speed of execution and development of university spin-offs in the clean technology sector. Faced with the growing climate emergency, this unprecedented approach will accelerate the emergence of promising technologies out of university laboratories and into mature commercial ventures with tangible environmental impact.
The international venture studio BXVentures has for objective to create, finance and develop startups that contribute to a net reduction in greenhouse gas emissions through the use of cutting-edge technologies. Adopting a “co-piloting” approach to early-stage venture building, it benefits from housing seasoned entrepreneurs and leverages a proven de-risking methodology and value-creation mechanisms.
Through this new partnership with McGill, one of the world’s most prestigious universities, BXVentures will maximize the potential impact of cleantech projects developed through the university’s academic research. It will also speed up the launch of new companies that address the urgent and pressing challenges of our climate crisis. Marc Guilbert, CEO of the Canadian entity adds: “By aligning with McGill University, international recognized for its cutting-edge fundamental and applied research, we can accelerate the launch of new research-based cleantech ventures in a wider range of fields than previously possible. Moreover, by professionalizing the technology and startup maturation process, we promote the local innovation ecosystem and enhance the value of the university’s research on a global scale.”
McGill University, known for its excellence in research and innovation, has expressed a desire to accelerate the commercialization of intellectual property (IP) developed in its laboratories and to increase the societal and environmental impact of clean technologies through the creation of new spin-offs (i.e. startups originating from university IP and/or research). “Sustainability is a key priority for McGill University, but equally important is the impact of our research,” said Professor Benoit Boulet, Associate Vice-Principal, Innovation + Partnerships. “We are actively engaging with key actors in the innovation ecosystem such as BXVentures to ensure that our ideas make it beyond the lab and into the real world where they can make a difference in people’s lives.”
Leveraging BXVentures’ proven value proposition, this partnership will facilitate the creation, increase the speed of commercialisation, and improve the probability of success of new cleantech startups. In practice, BXVentures addresses many of the major risks inherent to early-stage cleantech projects by providing initial capital, co-piloting with experienced entrepreneurs, recruiting the initial team, building a product market fit addressing concrete demand, and offering additional operational support services. With an approach that is both local and global, BXVentures’ international footprint enables the scaling of science-based technological innovation into commercial solutions with planetary impact.
The signing of this new agreement reflects the determination of both entities to tackle climate challenges through concrete measures. For BXVentures, this collaboration is part of its strategy to develop the cleantech innovation ecosystem and to promote impact entrepreneurship. Through this partnership with McGill University, BXVentures strengthens its position as leader in the early-stage cleantech sector and emphasizes its ability to innovate via successful spin-offs which will have a positive impact on society. McGill University and BXVentures hope to announce a first joint endeavour in the coming months.
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