PME MTL — Innovation, productivity, and sustainable development fund

PME MTL — Innovation, productivity, and sustainable development fund

PME MTL offers financial support for business innovation, productivity, and sustainable development in Montreal. Services include financing up to $50,000 for eligible projects and businesses based on detailed eligibility criteria.
At a glance
Overview
Eligibility
Selection criteria
How to apply

At a glance

Eligible Funding
  • Max. $50,000
  • 80% of project cost
Timeline
  • Open Date : May 02, 2024
Financing Type
Grant and Funding
Eligible Industries
  • All industries
Grant Providers
  • Unspecified
Status
Open

Overview

PME MTL provides comprehensive support for businesses aiming to enhance innovation, productivity, and sustainable development in the Montréal region. The organization offers a funding program that grants up to $50,000, covering no more than 80% of total project costs. Eligible projects may include implementing new technologies, market validation, marketing launches, and adopting sustainable practices. To qualify, businesses must meet specific requirements such as having a Montreal address and providing detailed financial documentation. Funding availability is subject to limits. Services are accessible by selecting a local area on PME MTL’s website, ensuring targeted support for enterprises across Montreal's diverse districts.

Eligibility criteria

The eligibility criteria for this grant include:

  • Canadian citizenship, permanent residency, or holding a Quebec selection certificate (CSQ)
  • Legally incorporated and registered in the Registraire des entreprises du Québec (REQ)
  • Montréal-based address and head office in the province of Quebec
  • Presentation of a business plan or executive summary
  • Submission of financial forecasts covering at least two full financial years
  • Compilation of financial statements for the last two completed financial years (or first year for new companies)
  • Minimum down payment of 20% of total cost for pre-startup businesses and 15% for start-up or growing businesses applying for a loan, and 20% for a subsidy

Who is eligible

Eligible companies for this grant must:

  • Have Canadian citizenship, be a permanent resident, or hold a Quebec selection certificate (CSQ)
  • Be legally incorporated and registered in the Registraire des entreprises du Québec (REQ)
  • Have a Montréal-based address and have a head office in the province of Quebec

Eligible expenses

Eligible expenses for this grant include costs related to the business project such as testing and trying out an innovation, validating target markets, marketing launch, generating initial sales, improving productivity through technological equipment, adopting clean technologies, and implementing sustainable development practices.

  • Testing and trying out an innovation in a real-world context
  • Validating the markets targeted during the development of the innovation
  • Marketing launch
  • Generating the first sales of the innovation
  • Improving productivity, in particular by installing technological equipment and improving robotization or automation
  • Adopting clean technologies
  • Putting in place sustainable development practices, in particular those aimed at implementing circular economy business models

Eligible projects & activities

The subsidy from the fund to foster innovation, productivity, and sustainable development can be used for various projects such as testing innovations, validating target markets, launching marketing campaigns, improving productivity with technology, adopting clean technologies, and implementing sustainable development practices.

  • Testing and trying out an innovation in a real-world context.
  • Validating the markets targeted during the development of the innovation.
  • Marketing launch.
  • Generating the first sales of the innovation.
  • Improving productivity, especially through technological equipment and automation.
  • Adopting clean technologies.
  • Implementing sustainable development practices, particularly focused on circular economy business models.

Eligible geographic areas

There are specific geographic areas eligible for this grant.

  • Businesses located in the Montréal region

Evaluation & selection criteria

Yes, there are evaluation and selection criteria for this grant. The Comité d’investissement commun (CIC) reviews each application to determine if the entrepreneur and project meet the Fund's policy objectives and requirements.

  • Canadian citizenship, permanent resident status, or hold a Quebec selection certificate (CSQ)
  • Legally incorporated and registered in the Registraire des entreprises du Québec (REQ)
  • Have a Montréal-based address and head office in Quebec
  • Submit a business plan or executive summary
  • Provide financial forecasts for at least two full financial years
  • Present compilation of financial statements for the last two completed financial years
  • Minimum down payment of 20% for pre-startup businesses and 15% for startups or growing businesses

How to apply

  • Step 1: Ensure eligibility
  • Review the eligibility conditions outlined in the grant description
  • Step 2: Gather required documents
  • Prepare Canadian citizenship or residency documents
  • Have business plan or executive summary ready
  • Compile financial forecasts and statements
  • Step 3: Submit application
  • Complete the application form with all necessary information
  • Submit the application along with required documents
  • Step 4: Wait for review
  • Applications will be reviewed by the Comité d’investissement commun
  • Outcome will be based on meeting Fund's policy objectives
Apply to this program