logo
Pôle entrepreneuriat – HEC Montréal and Collège Boréal launch new collaboration to support Francophone entrepreneurs

Pôle entrepreneuriat – HEC Montréal and Collège Boréal launch new collaboration to support Francophone entrepreneurs

TORONTO, May 01, 2025 (GLOBE NEWSWIRE) —
(
Version Web
)
Collège Boréal, in partnership with Pôle entrepreneuriat – HEC Montréal, is pleased to announce the official launch of the 'Innovation and Entrepreneurial Financing' project. This initiative is designed to support Francophone entrepreneurs in Ontario and foster collaboration with their counterparts in Quebec. With dignitaries from Ontario's Ministry of Francophone Affairs and the Secrétariat du Québec aux relations canadiennes in attendance, the event marks the beginning of a three-year initiative funded jointly by the governments of Quebec and Ontario in the amount of $60,000 under Canadian Francophonie support programs.
The partnership between Collège Boréal and Pôle entrepreneuriat – HEC Montréal is structured around four key priorities:
Held at Collège Boréal's Toronto campus, the launch also brought together entrepreneurs, business experts, and representatives from community organizations.
Quotes
'Collège Boréal is delighted by this new collaboration with Pôle entrepreneuriat – HEC Montréal, which provides Toronto's Francophone business community with new opportunities for growth while encouraging the sharing of expertise and partnerships with Quebec entrepreneurs. We're also grateful to the governments of Quebec and Ontario who, by supporting our Desjardins Space for Innovation, Research and Incubation, are contributing to the vitality of Franco-Ontarian and Quebec businesses and inspiring the next generation of French-speaking entrepreneurs in our province.'
Daniel Giroux
– President of Collège Boréal
'Pôle entrepreneuriat – HEC Montréal is proud to partner with Collège Boréal to strengthen ties between the Francophone business ecosystems in Quebec and Ontario. This initiative will not only spark innovation and new growth opportunities on both sides but also foster a space for knowledge exchange, networking, and co-creation. We thank the Secrétariat du Québec aux relations canadiennes for its vital support of this promising initiative for the Francophone economic community.'
Luis Felipe Martinez Cisneros
– Full Professor, HEC Montréal
Founder and Co-Director, Pôle entrepreneuriat – HEC Montréal
Quick facts
Related Links
About Pôle entrepreneuriat – HEC Montréal
Also known as La base entrepreneuriale HEC Montréal, Pôle entrepreneuriat – HEC Montréal is an innovation hub with a mission to inspire and propel the next generation of technology and impact-driven entrepreneurs in Quebec and beyond. It offers five entrepreneurial support programs, from pre-incubation to acceleration: Éclosion, Parcours Rémi-Marcoux, EntrePrism, Accélérateur Banque Nationale – HEC Montréal, and Envergure. Since the creation of these programs in 2013, La base has supported more than 750 entrepreneurs – about half of them women – created over 600 jobs, and hosted more than 675 events and activities for the entrepreneurial community.
Information
Benoît Clément
Manager, Communications and Media Relations
705-560-6673, ext. 2722
benoit.clement@collegeboreal.ca
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4b7f8212-8909-4e7b-83c1-82f1d95a382c
https://www.globenewswire.com/NewsRoom/AttachmentNg/a5bc57a6-35fe-4dd6-a0de-164ad6cf7a84

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Spirit makers face a sobering cocktail of challenges — from tariffs to teetotalers
Spirit makers face a sobering cocktail of challenges — from tariffs to teetotalers

CNBC

time4 hours ago

  • CNBC

Spirit makers face a sobering cocktail of challenges — from tariffs to teetotalers

Global spirit makers are staring down a sobering cocktail of challenges as tariffs and brand boycotts threaten to exacerbate wider shifts in drinking habits. French cognac maker Rémy Cointreau on Wednesday became the latest spirits maker, following Diageo and Pernod Ricard, to withdraw its sales targets on increased economic and trade uncertainty. "Given the continued lack of macroeconomic visibility, the geopolitical uncertainties surrounding U.S.-China tariff policies, and the absence to date of a recovery in the U.S. market ... the conditions required to maintain [Remy Cointreau's] 2029-2030 targets are no longer in place," it said in a statement. The move came as full-year sales at the group's cognac business, which includes its namesake Remy Martin brand, fell 22% on an organic basis on slowing U.S. consumption and "complex market conditions" in China. The popular brandy variety, which hails from the French region of Cognac, has been particularly caught in the crosshairs of ongoing U.S.-Sino tensions. LVMH similarly saw a 17% drop in its Hennessy cognac in the first quarter. But the specialty drink is far from alone as trade barriers weaken already drying demand for spirits. LVMH's wine and spirits remains the French luxury group's worst performing division, while Diageo spirits including Tanqueray, Gordon's and Smirnoff saw the steepest declines in the first quarter as sales of Irish stout Guinness rallied ahead. "Distilled spirits in the U.S. are going through a correction, and U.S. tariffs add another layer of uncertainty," Jefferies said in a note last month. The prestige — and often legal requirements — associated with spirits and wines mean that they are heavily dependent on local production and thus heavily exposed to U.S. import levies. Champagne must be produced and bottled within the Champagne region, for instance. "With spirits and wines you have terroir caches, and that means you're producing locally and exporting. Hence it's much more vulnerable to geopolitical tensions," Sanjeet Aujla, analyst at UBS, told CNBC via video call. Remy Cointreau estimated that tariffs as they currently stand could serve a 65-million-euro blow ($55 million) to its business after mitigating measures. Diageo, meanwhile, said about 25% of its business is set to be impacted by duties. The same does not apply for beer, which relies on local production and has been flagged as an unlikely winner from brewing trade divisions. Notably, the world's largest brewer AB InBev, as well as Dutch and Danish beermakers Heineken and Carlsberg all maintained their full-year guidance in the first quarter. As a result, wines and spirits are potentially more exposed to brand boycotts too, with consumers more likely to swap out a particular product on political grounds in favor of a locally-made alternative. The tariff hit comes as the industry has slowed over recent years following a strong decade of growth, particularly during the Covid-19 pandemic. Locked-down consumers forked out more on alcohol in 2020 and 2021, fueling a simultaneous surge in premium brands. "During the pandemic, not only did people drink more, they premiumized more," Aujla said. Spirits are often seen as an affordable luxury, especially in good economic times. But they nevertheless tend to be an occasional purchase, with many Covid-era stockpiles remaining in liquor cabinets across the world. As economic conditions turn, however, consumers may be less inclined to cough up $100 for a good bottle, instead downtrading or opting for lower-cost ready-to-drink (RTD) alternatives. "Spirits-based RTDs are weighing on distilled spirits growth alongside the impact of cumulative inflation," the Jefferies note said, adding that downtrading was most visible in vodka and rum products, while demand for premium whisky, tequila and gin remained more robust. "That [premiumization] is on pause today, given the cyclical headwinds we have in the industry," Aujla added. The drying demand comes as health and wellness trends spark a shift in consumer habits, with more people becoming "sober curious" and experimenting with lower alcohol consumption. Indeed, many drinks makers have sought to embrace that shift with new ranges of low and no alcohol products. Meanwhile, the proliferation of weight loss drugs — and early evidence of their role in suppressing alcohol cravings — pose another potential challenge for the industry. Nevertheless, analysts remain divided over the severity and permanence of the downturn. "There is considerable debate over the extent to which currently anemic demand is cyclical or structural," James Edwardes Jones, analyst at RBC Capital Markets, said in emailed comments. Cyclical pressures refer to economic headwinds and hangover supplies from the Covid-era, while structural shifts refer to changing consumer patterns. "It's a bit of both, and more cyclical than structural," Aujla said. "But when the cyclical headwinds dissipate, we think US Spirits industry growth will be 1-2% lower than the 4-5% historical growth."

US, Chinese officials to meet in London next week for new round of trade talks

time4 hours ago

US, Chinese officials to meet in London next week for new round of trade talks

WASHINGTON -- Senior U.S. administration officials will meet with a Chinese delegation on Monday in London for the next round of trade negotiations between Washington and Beijing, President Donald Trump said Friday. The meeting comes after a phone call between Trump and Chinese leader Xi Jinping on Thursday, which the U.S. president described as a 'very positive' conversation as the two countries attempt to break an impasse over tariffs and global supplies of rare earth minerals. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer will represent the U.S. side in the trade talks. 'The meeting should go very well,' Trump wrote on his social media platform Friday afternoon. Speaking to reporters on Air Force One Friday, Trump said Xi had agreed to restart exports of rare earth minerals and magnets to the U.S. which China had slowed, threatening a range of U.S. manufacturers that relied on the critical materials. The was no immediate confirmation from China. The Thursday conversation between Trump and Xi, who lead the world's two biggest economies, lasted about an hour and a half, according to the U.S. president. The Chinese foreign ministry has said Trump initiated the call. The ministry said Xi asked Trump to 'remove the negative measures' that the U.S. has taken against China. It also said that Trump said 'the U.S. loves to have Chinese students coming to study in America,' although his administration has vowed to revoke some of their visas.

L'Oreal sees Middle East and Southeast Asia as next growth engines as China slows: ‘Eventually demographics have to win'
L'Oreal sees Middle East and Southeast Asia as next growth engines as China slows: ‘Eventually demographics have to win'

Yahoo

time5 hours ago

  • Yahoo

L'Oreal sees Middle East and Southeast Asia as next growth engines as China slows: ‘Eventually demographics have to win'

For more than a decade, China's aspirational shoppers, spurred by a fast-growing economy and rising wages, snapped up products from cosmetics giants like L'Oreal, Estee Lauder, and Shiseido. Before the COVID pandemic hit, China appeared set to overtake the U.S. as the world's largest makeup market. Those boom times are over, as more Chinese consumers now turn to up-and-coming local brands, like Mao Geping and Florasis. L'Oreal's sales in Mainland China dropped last year, shrinking its overall North Asia sales by around 3%. The Chinese market, the bulk of the firm's North Asia revenue, now accounts for 17% of group sales, down from 23% in 2022. The French firm continues to call China an important market, but has reportedly started cutting its retail workforce due to slower Chinese demand. As China stagnates, L'Oreal is now looking to regions, like the Middle East and Southeast Asia, as a source of growth. SAPMENA—L'Oreal's term for 'South Asia Pacific, Middle East, and North Africa'—will soon 'play a much bigger role' when it comes to beauty, says Vismay Sharma, who oversees the region for the French cosmetics firm. L'Oreal, No. 91 on Fortune's Europe 500, reported sales of 1.1 billion euros ($1.19 billion) for the first quarter of 2025, up 12.2% year-on-year, across SAPMENA and Sub-Saharan Africa (SSA). That's still small compared to other regions, sitting far behind Europe, North America and North Asia. But while SAPMENA-SSA only contributed 9.2% of L'Oreal's quarterly revenue, it was the only region to log double-digit growth. SAPMENA covers a huge swathe of the globe, stretching from Morocco all the way down to New Zealand just under 19,000 kilometers away. The region's 35 markets cover 3 billion people, or about 40% of the world's population, yet only accounts for 10% of global beauty sales. 'It has to come together, and eventually demographics have to win,' Sharma says. SAPMENA's quick growth doesn't surprise Sharma. 'The consumers in this part of the world are about 5 years younger than the rest of the world, live in aspirational societies and in economies that are growing fast,' he says. China has proved to be a tricky market for global cosmetics firms post-pandemic. Sluggish China sales have dragged down the financial results of U.S. firm Estee Lauder and Japan's Shiseido. A sluggish economy and stagnant consumption are partly to blame. But there's also new competition. 'C-Beauty' brands are starting to pick up steam among Chinese shoppers, with new brands going viral on Douyin, the Chinese version of TikTok, and other social media platforms. (L'Oreal is paying attention, investing in local Chinese brands like To Summer) Still, Sharma thinks China offers lessons for SAPMENA. Southeast Asia, like China, has highly connected consumers who are used to e-commerce and livestreaming. For example, Sharma notes that over 50% of L'Oreal's business in Vietnam comes from e-commerce. This is less true of the Middle East and North Africa. 'When you look at the ecosystem of beauty over there, you still don't have TikTok Shop. They're still a few years behind platforms like Shopee, like Lazada,' he says. Yet consumers in the Middle East share similar preferences to those in Southeast Asia. 'Expectations for beauty are very similar. We can see aspirations in terms of kind of hair, skin, lips, and eyes,' Sharma says, pointing to a preference for longer black hair as an example. That gives L'Oreal a chance to grow in the region. 'Our ability to create content at scale in the GCC becomes a huge advantage,' Sharma says. This story was originally featured on

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store