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Government
gouv.qc.ca

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Investments

18

Portfolio Exits

2

Funds

2

Partners & Customers

1

About Government of Quebec

Government of Quebec is the political authority that governs Quebec. Quebec's parliamentary system, which is based on cooperation between the legislative body and the executive body, is modeled on the British Westminster parliamentary system. In a parliamentary system, the prime minister is the head of the political party with the most elected members after a general election.

Government of Quebec Headquarter Location

Quebec City, Quebec,

Canada

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Latest Government of Quebec News

Government Of Canada Announces An Agreement With The Government Of Quebec To Introduce A Pilot Project Under The Temporary Foreign Worker Program

Aug 6, 2021

Government Of Canada Announces An Agreement With The Government Of Quebec To Introduce A Pilot Project Under The Temporary Foreign Worker Program GATINEAU, QC, Aug. 6, 2021 /CNW/ - Employment and Social Development Canada As we continue our pandemic recovery, businesses are once again reopening their doors to Canadians. Author: GATINEAU, QC, Aug. 6, 2021 /CNW/ - Employment and Social Development Canada As we continue our pandemic recovery, businesses are once again reopening their doors to Canadians. Already, we are seeing the economy returning to its pre-pandemic levels, and employers on their path to recovery are hiring in increasing numbers. For several years, Quebec has been experiencing workforce recruitment challenges, and even though the pandemic had a significant impact on unemployment in the province, worker shortages remain a problem. That is why, today, the Government of Canada is announcing an agreement with the Government of Quebec that will allow for the introduction of new flexibilities for Quebec employers under the Temporary Foreign Worker Program. This new initiative, which is a collaborative effort between the Government of Canada, the Government of Quebec and Quebec labour market partners, will allow Quebec employers to benefit from the following measures: an increase of 10% to 20% in the maximum number of temporary foreign workers in low-wage positions and employed in certain economic sectors designated by Quebec following a consultation with labour market partners; an exemption from existing advertising and recruitment requirements for a larger number of occupations, designated by Quebec; and These flexibilities will be part of a pilot project that will run until December 31, 2023. At the pilot's conclusion, the Government of Canada will evaluate these measures to help inform its future decisions. The agreement will also see the implementation by Immigration, Refugees and Citizenship Canada of new measures under the International Mobility Program that would allow for an additional 7,000 work permits to be issued annually to holders of a Certificat de sélection du Québec. This will allow the Government of Quebec to give more new immigrants opportunities to contribute and to establish themselves, helping alleviate the workforce shortage. Quotes "The Government of Canada recognizes the importance of balancing the labour needs of Quebec employers while ensuring that the economy works for Canadians. Implementing and exploring flexibilities in the Temporary Foreign Worker Program will help to ensure that we can continue on the road to economic recovery. "- Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough " Quebec is a unique province, with an immigration context that is also unique. The new agreement on the International Mobility Program Plus will contribute to meeting the workforce needs of Quebec, all while permitting newcomers to establish themselves and prosper in La Belle Province. We will continue to collaborate to bring in the workers that Quebec needs to support its economic recovery. "- Minister of Immigration, Refugees and Citizenship, Marco Mendicino Quick Facts In June 2021, Quebec's unemployment rate was 6.3% , the lowest in Canada for this period. In February 2020, the unemployment rate in Quebec was 4.5%, the lowest rate in the province since comparable data became available in 1976. A Labour Market Impact Assessment (LMIA) is a document that an employer in Canada may need to get before hiring a foreign worker. It must first be determined if an LMIA is needed or if the position is LMIA-exempt before applying for a work permit in cases where an employer is seeking to hire a temporary foreign worker. A work permit allows a foreign worker to legally work in Canada. As per the Refusal to Process policy, there are certain conditions that may justify why the Government of Canada cannot process a Labour Market Impact Assessment application. The Government of Canada recently proposed new regulations to improve protection of temporary foreign workers. The proposed regulations were pre-published on July 10, 2021 in the Canada Gazette, Part I. Associated Links

Government of Quebec Investments

18 Investments

Government of Quebec has made 18 investments. Their latest investment was in Zilia as part of their Seed on August 8, 2021.

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Government of Quebec Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/11/2021

Seed

Zilia

$3.2M

Yes

Anges Quebec, and Undisclosed Investors

5

7/14/2021

Seed

QScale

$24M

No

2

7/14/2021

Loan

QScale

$47.9M

Yes

2

6/2/2021

Project Finance

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$99M

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10

1/23/2020

Debt - II

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$99M

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10

Date

8/11/2021

7/14/2021

7/14/2021

6/2/2021

1/23/2020

Round

Seed

Seed

Loan

Project Finance

Debt - II

Company

Zilia

QScale

QScale

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Amount

$3.2M

$24M

$47.9M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Anges Quebec, and Undisclosed Investors

Sources

5

2

2

10

10

Government of Quebec Portfolio Exits

2 Portfolio Exits

Government of Quebec has 2 portfolio exits. Their latest portfolio exit was Element AI on November 30, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/30/2020

Acquired

$991

7

00/00/0000

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10

Date

11/30/2020

00/00/0000

Exit

Acquired

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Companies

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Valuation

$991

Acquirer

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Sources

7

10

Government of Quebec Fund History

2 Fund Histories

Government of Quebec has 2 funds, including Climat municipalites.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Climat municipalites

1

Public Transportation Development Support Program

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$99M

10

Closing Date

Fund

Climat municipalites

Public Transportation Development Support Program

Fund Type

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Status

Amount

$99M

Sources

1

10

Government of Quebec Partners & Customers

1 Partners and customers

Government of Quebec has 1 strategic partners and customers. Government of Quebec recently partnered with Rogers Communications on .

Date

Type

Business Partner

Country

News Snippet

Sources

Vendor

Rogers Communications

Canada

1

Date

Type

Vendor

Business Partner

Rogers Communications

Country

Canada

News Snippet

Sources

1

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