Who Can Apply for ESSOR Component 2: Eligibility Guide
ESSOR – Component 2 offers significant support for businesses aiming to enhance productivity and expand through technological investments in Québec. This component is a part of the broader ESSOR program, designed to accelerate business growth by facilitating innovative technological transitions.
Overview of ESSOR Component 2
ESSOR – Component 2 focuses on providing financial assistance to investment projects that boost productivity and foster business expansion. It supports a variety of financial interventions, including repayable contributions and loan guarantees, aimed at encouraging the realization of investment projects within Québec. For detailed funding structures and amounts, please refer to the complete program guide.
Eligible Applicants
To be eligible for ESSOR – Component 2, your organization must fall into specific categories:
Business Type
For-profit enterprises: Companies that operate with the aim of making a profit are eligible.
Social economy enterprises: These organizations, which focus on community benefits rather than profit maximization, can also apply.
Foreign enterprises: Businesses based outside Québec must commit to operating within the province and register within twelve months post-project approval.
For a comprehensive breakdown of eligible business types, consult the complete program guide.
Geographic Eligibility
All applicants must be registered and conduct their activities in Québec. This requirement ensures that the benefits of the program remain within the province and contribute to the local economy.
Sector Eligibility
While ESSOR – Component 2 is open to many sectors, some exceptions apply:
Excluded sectors include: Primary industries (agriculture, forestry, fishing), except for greenhouse production and major conditioning projects.
Other excluded areas: Mining, real estate services, construction (with exceptions for productivity enhancements), public services, and several others.
For a detailed list of excluded sectors, see the complete program guide.
Criteria for Project Eligibility
Investment projects must aim at increasing productivity and expanding operations through technological advancements. This can include acquiring new technologies or making innovative transitions that elevate business efficiency.
Financial Criteria
The program supports various financial structures, including repayable contributions and loan guarantees. Management fees apply, calculated as a percentage of the financial aid provided. For detailed financial criteria and calculations, visit the complete program guide.
Conclusion
Determining your eligibility for ESSOR – Component 2 is a crucial step towards securing support for your investment projects. This program not only aids in financial growth but also encourages technological advancement within Québec. For complete eligibility details, consult the complete program guide.
