Videotron Pledges Support to OSMO Foundation

By: Zain Nabi  |   January 19th, 2013   |   Business, News

Quebecor Media’s Videotron has pledged a 10-year commitment and financial support for OSMO Foundation. The two entities announced their partnership at Montreal’s Notman House during a news conference recently.

 

OSMO Foundation, a non-profit entity, aims at supporting youngsters and entrepreneurs in realising their dreams by providing them funding and networking opportunities. It also intends to provide a common platform to people associated with the technology industry in Montreal to meet and coordinate with each other and form a joint venture if possible.

 

Videotron will provide $2.5 million to support OSMO Foundation’s goals. Videotron is not the only supporter of OSMO Foundation; the Business Development Bank of Canada is also supporting the foundation. As per its agreement wit the bank, the foundation will receive $325,000 initially, while it will get another $100,000 over the course of next four years.

 

Alan MacIntosh, president of the OSMO Foundation, said after the recent partnership with Videotron:

 

“This is a big day for Notman House. Videotron’s significant support will give entrepreneurship in Montréal a major boost, helping an entire community achieve its full potential and giving some of its amazingly talented members a chance to shine.”

 

Meanwhile, Quebecor has supported this project considering that it is its responsibility to give back to the community that supported the company at the time of need. Quebecor CEO Pierre Karl Péladeau said:

 

“More than a generation ago, leaders mobilized and created Québec Inc. Today, it is our turn to join forces and support young startups that have the potential to become the flagships of Québec Inc. in the future.”

 

Source: techvibes

Photo: noviacapital