On June 26. 2012 in Montreal, the Minister of Finance, Minister of Revenue and Minister responsible for the Montreal region, Raymond Bachand, announced the creation of a 15 million dollar Endowment Fund to support the Fondation Montréal inc. The fund, which is being endorsed by the Government of Québec and the Fonds de solidarité FTQ with an investment of 5 million dollars each, will allow to sustain the Foundation and its activities: investing in the start-up of businesses and providing specialized services to young Montreal entrepreneurs.
As stated by Andrew Molson, Chairman of the Board of the Foundation, “Through the creation of this fund, the Government of Québec recognizes the Foundation as a key player in the 2011-2014 Québec Entrepreneurship Strategy”.
Liette Lamonde, Executive Director of the Foundation, commented that since the Foundation is 80% financed by the private sector, the creation of a matching fund becomes a new and very attractive vehicle when comes the time to approach businesses and ask that they contribute to our fundraising campaigns.
Photo : City of Montreal
Dignitaries, Foundation administrators, entrepreneurs and personnel at the announcement of the creation of the Endowment Fund on June 26, 2012.