How to Apply to ESSOR Component 2: Complete Application Guide
The ESSOR – Component 2 program is designed to boost the productivity and expansion of businesses in Quebec through strategic investments in technology and infrastructure. Whether you're a local enterprise or an international company looking to establish a presence in Quebec, this program provides a range of financial supports, including non-repayable contributions and loan guarantees.
Overview of ESSOR – Component 2
ESSOR – Component 2 focuses on enhancing the productivity of Quebec businesses by supporting technological innovation and the acquisition of new technologies. The program aims not only to accelerate growth within the province but also to attract investment and encourage the expansion of businesses from outside Quebec. Key financial supports include:
Repayable contributions
Loan guarantees with up to 70% coverage on net losses
Equity participation
Non-repayable contributions
For complete eligibility requirements, see the complete program guide.
Eligibility Requirements
To qualify for ESSOR – Component 2, businesses must meet specific criteria:
Type of Business: Must be a for-profit enterprise or a social economy enterprise.
Location: Businesses must be registered and operating in Quebec.
Foreign Companies: Must register in Quebec and commit to operating within 12 months of project approval.
For complete eligibility requirements, see the complete program guide.
Required Documents
Applicants will need a comprehensive set of documents to support their application:
Business registration details
Financial statements
Project plans and budgets
Proof of technological needs or innovation potential
Ensure accuracy and completeness to avoid delays. The full application process is outlined in the complete program guide.
Step-by-Step Application Process
Step 1: Prepare Your Application
Gather all necessary documents and financial information.
Develop a detailed project plan that aligns with the program’s objectives.
Step 2: Submit Your Application
Submit the application through the designated online portal.
Include all required documentation to support your project’s viability.
Step 3: Await Review and Approval
The application will be reviewed for completeness and alignment with program goals.
Be prepared for follow-up questions or requests for additional information.
Visit the complete program guide for detailed application steps and deadlines.
Application Timeline
Applications are processed on a rolling basis. It is crucial to submit well ahead of any project start dates to accommodate processing times. Deadlines and processing times can vary, so check the complete program guide for the latest information.
Tips for a Successful Application
Clearly demonstrate how your project will enhance productivity and contribute to economic growth in Quebec.
Ensure all financial documents are up-to-date and accurate.
Highlight any innovative aspects of your technological investments.
Common Mistakes to Avoid
Submitting incomplete applications
Failing to provide clear, detailed project plans
Missing key deadlines
What Happens After You Apply
Once submitted, your application will undergo a thorough review process. If approved, you will receive a funding agreement outlining the terms and conditions. If not approved, feedback will be provided to guide future applications.
Conclusion
The ESSOR – Component 2 program is a valuable opportunity for businesses aiming to enhance productivity through strategic investments. Ensure all application criteria are met and documents are ready for a smooth process. For comprehensive details, the complete program guide is your best resource.
