The Business Development Bank of Canada has launched a pilot project in partnership with Bpifrance that aims to open up business opportunities for Canadian technology companies in France and Europe.
The banks signed an agreement to trial the Bpifrance digital platform EuroQuity, which links companies with potential investors and strategic partners across France and the European Union. Ten Canadian companies will join the project, facilitating targeted introductions to the companies’ counterparts in France and Europe.
“This pilot exemplifies the potential of collaboration between development banks for the benefit of their clients,” BDC Capital executive vice president Geneviève Bouthillier said. “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.”
Bpifrance has already used EuroQuity to test 20 European projects with the European Commission’s support, including Africa Next and ENRICH in Africa. According to Pascal Lagarde, executive director of international, strategy, research, and development at Bpifrance, the collaboration with BDC would help generate business opportunities, enable joint ventures, and cultivate partnerships in Europe, Africa, and Canada.
“At Bpifrance, one of our key objectives is to connect the French and European entrepreneurial ecosystems with those around the world. Entrepreneurs are at the core of our mission, and we strive to facilitate their networking, understanding that business expansion flourishes in a supportive environment,” Lagarde said. “This partnership with BDC is crucial and marks the beginning of a more global movement for us.”
The pilot launch follows a memorandum of understanding inked by BDC and Bpifrance on April 10, 2024, during the French Prime Minister’s visit to Canada.