The Caisse de dépôt et placement du Québec (CDPQ), a leading institutional investor and pension fund manager, has unveiled a new support program aimed at boosting the productivity of Québec businesses and helping them pivot to new markets amid looming concerns over a potential trade war with the United States.
In the coming weeks, CDPQ plans to launch a contest for technological projects, offering flexible financing to winners without increasing debt or immediately diluting capital. This initiative will complement CDPQ’s existing support programs by providing businesses with access to critical resources—including capital, technology, and networking opportunities—to drive their investment projects forward.
In partnership with Québec City-based applied AI startup Vooban, a company within CDPQ’s portfolio, program participants will receive assistance in integrating advanced technologies such as automation, robotics, and artificial intelligence (AI). Additionally, the initiative aims to connect businesses with valuable networking opportunities to explore new markets, diversify their client base, suppliers, and operations.
This announcement comes as Canadian companies brace for the possibility of a trade war with the US. Although a 30-day reprieve has been granted, a 25-percent tariff on Canadian goods imported into the US—and a reciprocal tariff on American-made goods—could take effect as soon as March 4.
Charles Émond, President and CEO of CDPQ, stated, “Whether or not the tariffs materialize, it’s time to leverage all the know-how of our companies to drive Québec forward. CDPQ will be there to finance productivity-boosting projects and help companies diversify their markets.” He also confirmed that CDPQ will maintain its US investments despite the current uncertainties.
The impact of potential trade disruptions is already being felt by Québec-based startups. For example, textile manufacturer SRTX recently implemented temporary layoffs, while several consumer goods startups have warned that retaliatory tariffs could severely impact their operations. In response, the Québec government has indicated plans to provide additional support through short-term loans via Investissement Québec, similar to measures introduced during the COVID-19 pandemic.
Furthermore, Richard Chénier, General Manager of Québec Tech, recently proposed a series of measures to foster innovation in the province. His suggestions include mandating that companies of a certain size adopt Québec technology, introducing incentives for the creation of corporate venture capital funds, and allocating half of incentive budgets toward attracting US companies to the region. “It’s time for a change,” Chénier noted. “If this crisis doesn’t bring about the long-awaited transformations, we will have missed a huge opportunity.”
Overall, CDPQ’s new support program represents a proactive effort to empower Québec businesses with the tools and resources they need to navigate economic uncertainties and seize emerging market opportunities.
