Business collaboration is at the heart of a regional initiative aimed at helping Eastern Townships companies adapt their business models and remain competitive. Photo: A. Darmel/Pexels.
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Economic development organizations across Sherbrooke and the Eastern Townships are working together on a project aimed at helping businesses adapt their business models, strengthen collaboration and remain competitive.
According to a release from Sherbrooke Innovante and its regional partners, the initiative focuses on the “economy of functionality and cooperation,” an approach intended to encourage businesses and economic development organizations to place greater emphasis on innovation and collaboration.
The project was made possible through the 2024-2029 Sectoral Development Agreement for the Economy in Estrie, the release stated.
Organizations identified as partners include Sherbrooke Innovante, Granby Industriel et Entrepreneuriat Haute-Yamaska and the MRCs of Brome-Missisquoi, Coaticook, Memphrémagog, des Sources and Val-Saint-François.
The broader sectoral agreement involves Quebec government departments, the Estrie region’s MRCs, the City of Sherbrooke and the Table des MRC de l’Estrie.
Saint-François MNA Geneviève Hébert said the project is intended to help businesses become more competitive while preparing for future economic challenges.
“In Estrie, we have everything to gain by focusing on innovation and collaboration to build a strong and sustainable economy,” Hébert said.
“By supporting our businesses as their business models evolve, this project gives them the tools to increase their competitiveness, create more value and meet the challenges of tomorrow.”
Hébert said the initiative also demonstrates the region’s ability to work collectively on economic development.
“I am proud that our government is supporting this promising initiative, which once again demonstrates our region’s ability to mobilize to ensure its prosperity,” she said.
The Table des MRC de l’Estrie is serving as the mandated representative for the sectoral agreement.
Table president Monique Phérivong-Lenoir said the initiative is based on cooperation among regional economic development partners rather than organizations working independently.
“By supporting the economy of functionality and cooperation, Sherbrooke and Estrie are focusing on support and collaboration rather than working in silos,” Phérivong-Lenoir said.
“As representative of the sectoral agreement, the Table des MRC de l’Estrie is proud to carry this structuring project, which illustrates the full strength of our regional collaboration: a region that works together is a region that moves forward.”
Sherbrooke Mayor Marie-Claude Bibeau said businesses have demonstrated an ability to adapt but continue to need support.
“The businesses of Sherbrooke have shown a great capacity to adapt, but they also need to be well supported,” Bibeau said.
She said the project, with Quebec government support, is intended to help economic development teams build expertise in the economy of functionality and cooperation and use that expertise in their work with businesses.
“Through this project and the support of the Quebec government, our economic development teams will be able to help them develop new expertise in the economy of functionality and cooperation, an approach that promotes innovation and collaboration,” Bibeau said.
“In an uncertain economic context, it is in all our interests to give our businesses the means to remain strong and competitive.”
The release did not specify a total project cost, an amount of funding allocated to individual organizations or a timeline for participating businesses.
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