Just 12 per cent of startups surveyed had received venture capital, according to a report out Friday from Bonjour Startup Montréal, an online platform created to give scale-up support and connect local firms to global markets. The study also found that Enerkem, Lightspeed and Hopper were the city’s most-funded businesses in 2018. (The Logic)

Talking point: The report argues that Montreal’s startup scene, while growing—over 1,300 startups are based in the city—requires more capital, and a more even distribution of it. Fifteen transactions received 89 per cent of the total investment in 2018. And, though the majority of the startups were in the pre-seed and seed stages, there were just 31 of such investments in 2018, receiving about three per cent of the total invested. The report didn’t give recommendations, but Liette Lamonde, executive director of Fondation Montréal Inc., said in an interview with BetaKit that federal funding was lacking in the city. One cause was that Quebec’s regional development agency didn’t receive additional funding in the most recent federal budget, said Lamonde, whose firm provides entrepreneurs grants, networks and coaching; it’s also co-leading the Bonjour project.