ADM Fund / 375 idea
At a glance
- Max. $7,500
- Open Date : April 22, 2024
- All industries
- City of Montreal
Overview
Eligibility criteria
The Fonds ADM / 375 idées grant aims to support young entrepreneurs in Montréal with a $7,500 loan at a 2% interest rate. To be eligible, the business must be majority-owned by shareholders aged 18-40, have a head office in Montréal, reach 100% of crowdfunding goals, and present a viable business plan.
- Majority ownership by shareholders aged 18-40
- Head office in Montréal
- Completed 100% of crowdfunding campaign on La Ruche
- Pre-startup, startup, or growth phase for less than 2 years
- Viable business plan with potential for profitability
Who is eligible
There are eligible types of companies for this grant.
- Companies or business projects majority owned by shareholders between the ages of 18 and 40 and majority Canadian citizens, permanent residents, or hold a Quebec selection certificate (CSQ)
- Companies with head offices located in the City of Montreal territory
- Companies that have reached 100% of their crowdfunding campaign for a minimum amount of $3,750 on the Quebec platform La Ruche since January 1, 2017
- Companies in the pre-start phase, start-up, or growth for less than 2 years
- Companies presenting an executive summary of the business plan showing high potential for viability and profitability
Who is not eligible
Some types of companies that are not eligible for the Fonds ADM / 375 idées grant include:
- Companies majority owned by shareholders outside the age range of 18-40
- Companies with shareholders who are not Canadian citizens, permanent residents, or have a Quebec selection certificate
Eligible expenses
There are eligible expenses for this grant, including:
- Business start-up costs
- Purchase of equipment or supplies
- Marketing and advertising expenses
- Operating expenses for the first few months
Eligible projects & activities
The Fonds ADM / 375 idées grant supports young entrepreneurs in Montréal with financial assistance of $7,500, advantageous interest rates, and repayment conditions. To be eligible, projects must meet criteria such as being majority owned by individuals aged 18-40, having completed a crowdfunding campaign on La Ruche platform, and demonstrating high potential for viability.
- Majority ownership by individuals aged 18-40
- Completion of a crowdfunding campaign on La Ruche platform
- Demonstration of high potential for viability in the business plan summary
Eligible geographic areas
There are specific geographic areas mentioned for this grant. The Fonds ADM / 375 idées grant is available for companies with their head office located in the City of Montréal territory.
- City of Montréal territory
Evaluation & selection criteria
The selection criteria for the Fonds ADM / 375 idées grant are as follows:
- Majority ownership by shareholders between 18 and 40 years old who are Canadian citizens, permanent residents, or hold a Québec selection certificate
- Head office located in the City of Montréal territory
- Reached 100% of crowdfunding campaign on La Ruche platform (minimum $3,750) since January 1, 2017
- In pre-start, start-up, or growth phase for less than 2 years
- Presentation of a 2-3 page executive summary demonstrating high potential for viability and profitability
How to apply
- Step 1: Ensure the company meets the eligibility criteria for the Fonds ADM / 375 idées loan
- Step 2: Prepare an executive summary of the business plan demonstrating viability and profitability
- Step 3: Reach 100% of the crowdfunding campaign goal on La Ruche platform
- Step 4: Submit a request for the loan through the application process
Fonds ADM / 375 idées Grant Summary
The Fonds ADM / 375 idées grant offers financial assistance to young entrepreneurs in Montréal, providing a $7,500 loan with favorable terms and conditions. The grant aims to support 375 entrepreneurs by Montréal's 400th anniversary, encouraging innovation and business growth.
Exploring the Fonds ADM / 375 idées Grant
The Fonds ADM / 375 idées grant is a unique opportunity for aspiring entrepreneurs aged 18-40 to kickstart their business ventures in Montréal. With a focus on promoting innovation and viability, the grant offers a $7,500 loan with a low-interest rate of 2% and a repayment holiday for the first 6 months, making it a financially attractive option for young business owners.
To be eligible for the grant, entrepreneurs must meet specific criteria such as majority ownership by individuals within the specified age range, being Canadian citizens or permanent residents, or holding a Québec selection certificate. The business project should have its head office in Montréal, demonstrate successful crowdfunding on La Ruche platform, and have a viable business plan with high potential for profitability.
Supported by partners such as the Junior Chamber of Commerce of Montréal, Aéroports de Montréal, and the Board of Governors of the 375th anniversary of Montréal, the Fonds ADM / 375 idées grant offers a platform for young entrepreneurs to realize their business aspirations and contribute to the city's entrepreneurial ecosystem. By providing financial assistance and support, the grant plays a crucial role in fostering innovation, growth, and sustainability among Montréal's emerging business leaders.
Entrepreneurs can take advantage of this grant to fulfill their entrepreneurial dreams, leverage financial resources, and gain valuable support from key partners to propel their businesses forward. With a focus on promoting young talent and driving economic development, the Fonds ADM / 375 idées grant serves as a catalyst for innovation and success within Montréal's vibrant entrepreneurial landscape.
