September 23, 2021

2021 annual general meeting: Impressive results and a tribute to a great builder

INO presented results for the 2020–2021 fiscal year at its annual general meeting this morning. During the period, which corresponded with the first 12 months of the pandemic, INO demonstrated more than ever its importance as an economic development engine that government and local businesses can rely on to help drive a speedy recovery.

INO’s strong showing for the year included:

  • $500 million in spinoffs for Canadian businesses, according to economic studies
  • A positive financial performance and control over the pandemic’s impact on operations
  • The arrival of the first startups at its new Quantino incubator
  • Renewal of five-year funding agreements with the federal and provincial governments.

“Pandemic or not, the team’s accomplishments are impressive and further demonstrate INO’s important role in stimulating the economic recovery and helping our companies grow, bring their products to market, increase domestic manufacturing, and export worldwide,” said Alain Chandonnet, INO’s president and CEO.

Tribute to a great INO builder and modernizer of the Quebec City area economy

The event also marked the retirement of Jean-Guy Paquet after more than 25 years with INO. Mr. Paquet has been instrumental in building INO into Canada’s largest center of expertise in optics and photonics, first as a proponent for its creation, then as president and CEO, chair of the board, and director. Numerous business and political luminaries—including the Right Honourable Brian Mulroney, the Honourable Jean-Yves Duclos, François Legault, Philippe Couillard, Geneviève Guilbault, Régis Labeaume, Sophie D’Amours, and Éric Bergeron—paid him tribute for the pivotal role he played in spearheading INO’s growth and transforming the Quebec City area economy.