The Second Component of ESSOR: Support for Productivity-Enhancing Investment Projects
What is Investissement Quebec's ESSOR?
What projects are eligible for ESSOR’s second component?
Which companies can benefit from this component?
What help is available?
How to participate
Key elements of the second phase of ESSOR
- Main objective: ESSOR aims to support companies and investment projects in Quebec, with a focus on increasing productivity and competitiveness, as well as digital transformation.
- Project eligibility: The second component of ESSOR offers financing for various economic projects in Quebec, provided they involve at least $100,000 in eligible expenses. This includes expansion, creation, modernization, technological transition and acquisition of digital solutions.
- Types of eligible businesses: This program is open to for-profit businesses, cooperatives and social economy enterprises in various sectors, with the exception of certain excluded fields such as real estate, finance and healthcare.
- Types of assistance offered: ESSOR offers various types of assistance, including repayable contributions, loan guarantees, equity investments (under 50%) and non-repayable contributions (in the form of grants).
- How to participate: To take part in the program, it's essential to check your company's eligibility, choose a project covered by the program, and contact the telephone number 1 844 474-6367 for further information and clarification on the participation process.
About the author
Émile Audet
Frequently asked questions about ESSOR
What is the ESSOR program?
The ESSOR program is an Investissement Québec initiative designed to help and support Quebec companies in their growth. By focusing on digital transformation, the program aims to improve the competitiveness and development of businesses. The program contains four distinct components covering important aspects of the economic future of companies and of Quebec.
Who is eligible for ESSOR?
For-profit companies, cooperatives and collective enterprises operating in Quebec are eligible for the program. All sectors are eligible for the diagnosis and implementation of a digital plan, and can then access the projects covered by the first component. However, companies in certain sectors are not eligible to participate in the different components of the program. See our articles on Components 1, 2, 3 and 4 to learn more.
What kind of project are covered by ESSOR?
The projects covered by ESSOR aim to accelerate the growth and development of companies in Quebec. The first component covers the realization of investment projects, notably through the analysis, evaluation and implementation of digital plans. The second covers projects that improve productivity through expansion, new business creation, capacity enhancement and modernization. The third component supports projects that reduce the environmental footprint and, finally, the fourth component targets internationalization and expansion outside the Quebec market.
What type of help is offered by ESSOR
The ESSOR program offers several types of assistance. Investissement Québec supports Québec companies by offering repayable loans, loan guarantees and equity investments of less than 50%. In addition, subsidies may be offered to companies. Assistance amounts vary according to project size, type and corresponding component.
Why take part of the ESSOR program?
Participating in the ESSOR program enables companies to pursue their growth and development, while also benefiting from help with their digital transformation, an essential factor in today's environment.