Press release
Oct 30, 2025
5 min to read
Innovation, the engine of Québec’s growth: a 1% increase in R&D investment could generate an additional $250 million for Québec’s GDP.
Montréal, October 29, 2025 – A mere 1% increase in research and development (R&D) investment would generate an additional $250 million for Québec’s GDP—proof that every innovation point counts. This is one of the key findings from an economic study commissioned by BCF Business Law and conducted by Aviseo Conseil on the impact of innovation. The study was unveiled today at the opening of BCF’s Forum Tech 360, held in Montréal.
The event brought together nearly 200 participants around two central themes: technological risk-taking and innovation commercialization. Discussions with experts from the technology and entrepreneurial ecosystems highlighted the importance of fostering collaboration, encouraging risk-taking, and transforming innovation into lasting commercial success.
Because understanding is already taking action.
“In a context where Québec’s competitiveness relies more than ever on its ability to innovate and increase productivity, BCF aims to actively contribute to advancing Québec’s economy. The Forum Tech 360 and the study carried out with Aviseo Conseil reflect our desire to combine reflection and action—to better understand the levers of risk and commercialization so that innovation truly becomes a driver of sustainable growth.”
Québec: A Distinctive Case in Innovation
Québec stands out positively and possesses undeniable strengths. The province ranks first in Canada for the intensity of its R&D spending, representing 2.3% of its GDP—ahead of Ontario and the Canadian average.
On the ground, Québec entrepreneurs show a remarkable spirit of initiative: nearly 74% of them have recently taken steps to improve their company’s productivity. Technological adoption is also accelerating: 30% of Québec businesses adopted new technologies over the past year (according to the Business Development Bank of Canada, October 2025).
These figures demonstrate that Québec has a dynamic innovation culture and a strong desire to progress. Nevertheless, the Aviseo Conseil study shows that even Québec faces certain structural challenges in turning innovation into real growth.
Six Recommendations to Boost Innovation Performance
Six concrete recommendations underscore that investing in innovation means investing in collective prosperity:
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Provide fiscal and financial support for the emergence of “large-scale” SMEs capable of investing in R&D and taking risks.
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Deploy incentives to encourage large corporations to invest more in local venture capital and to support start-ups.
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Reinforce the sense of urgency around the need to innovate, rebuild pride in being an innovative society, and celebrate entrepreneurial and innovation successes.
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Inspire the next generation of entrepreneurs, support them in taking responsible risks, and stimulate the search for innovative solutions.
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Share in the risk-taking of companies that apply forward-thinking innovations, technologies, or methods.
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Encourage and celebrate multi-stakeholder collaboration in R&D, innovation, and commercialization (universities, small and medium-sized businesses, large companies, and institutions).
A Roundtable to Unite Québec’s Innovation Forces
Québec lacks neither ideas, talent, nor vision. But to create greater value, it must still build bridges—between research and business, innovation and commercialization, genius and market.
That’s why BCF is proposing the creation of a roundtable focused on the valorization of intellectual property innovation in Québec. This initiative seeks to bring together Québec’s key players—from established organizations to emerging voices in the innovation ecosystem—around a shared goal: ensuring that our innovations grow here, create wealth here, and make Québec shine everywhere.
About BCF
BCF Business Law drives Québec’s economy forward by supporting the leaders and organizations shaping it through an innovative, committed practice that bridges law and business.
With more than 560 employees—including 330 lawyers—the firm is distinguished by its ability to guide clients through their defining moments.
Since 2007, BCF has been recognized annually as one of Canada’s Best Managed Companies, a unique distinction in the legal industry that reflects its organizational excellence and business vision.
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Media Contact
Manon Goudreault
Vice President, Marketing and Client Strategy
514-791-5061 / manon.goudreault@bcf.ca