WIB-Greater Montreal: Company Creation and Spin-offs in Montreal – Challenges and Opportunities

On March 17, 2026, Women In Bio Greater Montreal hosted an outstanding panel of speakers who offered candid and nuanced perspectives on the current biotech ecosystem in Greater Montreal compared with the broader Canadian and U.S. landscapes. The discussion highlighted Montreal’s strong academic foundation, which continues to drive a growing number of spin-offs, as well as the city’s uniquely collaborative and supportive environment for startups. The panel included Edna Chosack (District 3 Innovation), Patricia Escoffier (Seido Capital), and Fiona Milano (Phoenix Impact), with moderation by Véronique Missout (Fonds de solidarité FTQ). Together, they provided these key takeaways:

• Develop the right mindset for entrepreneurship: Transitioning from academia to entrepreneurship requires not only scientific expertise but also adaptability, openness to risk, and a commitment to continuous learning.
• Define the right problem and market: A critical step for any startup is identifying a meaningful problem and understanding the market and competitive landscape. Investors evaluate not only the science but also the potential for real-world impact.
• Secure early-stage funding strategically: Access to early funding remains a key challenge. Initial investments may be modest, but strong positioning and a clear value proposition are essential for attracting and growing financial support.
• Embrace learning and seek guidance: Entrepreneurial journeys are inherently uncertain. Successful founders actively seek advice, build strong networks, and remain open to feedback. A lack of coachability can be a significant concern for investors.
• Empower women in entrepreneurship: Aspiring women entrepreneurs are encouraged to take the first step, leverage available support systems, build meaningful connections, and grow through experience.

A heartfelt thank you to our speakers and moderator for their generosity, insights, and leadership, and to Smart & Biggar for hosting us in such a welcoming space. We also extend our sincere thanks to all participants for their engagement and thoughtful contributions, which made the conversation truly impactful. Stay tuned for upcoming programming, including the next cohort of the Excellence in Canadian Board Governance (ECBG) program. We look forward to seeing you at our next event. 

Submitted by Ting Jin