Insurance and financial services innovation hub
Québec International (QI) announced a major partnership today with Industrial Alliance Financial Group (iA) following the signing of a three-year agreement that will also involve LE CAMP and LA ZONE. Under the agreement, an innovation hub will be established in Quebec City with a view to positioning the local technological ecosystem alongside the insurance and financial services industry.
Under the agreement, iA Financial Group’s financial contribution will be $150,000. To date, iA Financial Group is LE CAMP’s principal partner.
Reflecting the core values of collaboration and sharing, the partnership stems from the commitment of Quebec International and iA Financial Group to support local companies’ growth by encouraging mutual assistance, facilitating group creativity and achieving outstanding results. In particular, this initiative will involve establishing a centre of excellence for the insurance and financial services industry while ensuring mutual access to LE CAMP’s and LA ZONE’s training activities, work methods, processes and facilities. The partnership is also designed to develop local talent while making the Quebec City region more attractive to talent from elsewhere.
“Our region is definitely a technology hub, with insurance and financial services serving as major economic drivers. It was natural step for these stakeholders to enter into a partnership,” said Yvon Charest, President and CEO of iA Financial Group. “I am personally very pleased and feel very enthusiastic about the agreement announced today. It is sure to play a key role in supporting the growth of local companies.”
Carl Viel, President and CEO of Québec International, offered these remarks: “We are delighted with this major partnership, which will have tangible multiplier effects thanks to our local talent and their unique vision. Bolstering the efforts of LE CAMP and LA ZONE, the agreement provides Québec International with an opportunity to work closely with iA Financial Group, a recognized leader in the insurance and financial services industry, while focusing on the region’s strategic positioning and economic development.”
With 10 head offices, nearly 400 active companies and 57,444 related jobs, the insurance and financial services industry accounts for a large part of Quebec City’s economy and is the second-largest such hub in Canada.
"I proudly salute iA Financial Group's initiative to team up with LE CAMP, which has become a true entrepreneurial hotbed, with a view to fostering local innovation and business creation," said Régis Labeaume, Mayor of Quebec City. "As one of the leading local companies, iA Financial Group has set itself apart through its contributions to our economic growth. The insurance and financial services industry is a key sector and has embraced innovation, thus fuelling the region's successful economic development."
"The Government of Quebec believes that regional economic strength and prosperity stem not only from the efforts of dynamic partners and entrepreneurs, but also from their commitment to the success of joint projects. I welcome this agreement, which attests to the signatories' dedication to regional development," said François Blais, Quebec's Minister of Employment and Social Solidarity and Minister responsible for the Quebec City region.
Québec International contributes to regional economic development and promotes Quebec City's international standing. As the pre-eminent regional economic development agency, QI fosters business growth, supports key economic clusters and attracts talent and investment. For further information, please visit www.quebecinternational.ca.
In addition to being a hub for Quebec City's entrepreneurial community, LE CAMP is a vibrant and lively space where ideas take shape and business success is born. LE CAMP is an incubator/accelerator dedicated to the growth of technology companies. Located in the Saint-Roch district in the heart of Quebec City, LE CAMP offers access to acceleration/incubation programs and training/networking activities, in addition to rental offices and co-working spaces. Quebec International is administering and running LE CAMP thanks to a $2.1 million five-year investment by the City of Quebec. For further information, please visit lecampquebec.com.
Founded in 1892, iA Financial Group offers a comprehensive range of life and health insurance products, savings and retirement plans (RRSPs, TFSAs, etc.), mutual and segregated funds, securities, auto and home insurance, mortgages and car loans, as well as a host of other financial products and services geared towards individuals, companies and groups. In addition to being Canada’s fourth-largest insurance company, iA Financial Group is one of the country’s largest publicly traded entities and is listed on the Toronto Stock Exchange under the symbol IAG.
Created in January 2016 by iA Financial Group, LA ZONE is a digital innovation hub. It develops various projects, products and initiatives drawing on the “fast-track start-up” principle. LA ZONE is operated by a small in-house team that advocates and applies the development concepts associated with the Canvas business model, also used by LE CAMP. LA ZONE rigorously applies a constantly improving experimentation process while taking direct action with the client at each step.