Closed
Biomed Propulsion Program
Life sciences financing for Quebec growth companies
Last Update: April 9, 2026
Funding available
$ 500,000 - $ 10,000,000
Timeline
- Closing date : November 12, 2024
Location
Quebec, Canada
Overview
Participating loans of up to $10 million support Quebec life sciences companies with strong growth potential. The program helps finance research commercialization, product development, R&D, and medical technology commercialization.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Develop a new product or service
- Conduct research and development activities
- Launch or market a product/service
Eligible Funding
- Maximum amount : 10,000,000 $
- Minimum amount : 500,000 $
- Up to 50% of project cost
Timeline
- Closing date : November 12, 2024
Eligible candidates
Eligible Industries
- Manufacturing
- Professional, scientific and technical services
Location
- Quebec
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Startups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Commercialization of research results in the life sciences sector.
- Research and development in biotechnology.
- Development of life sciences products, platforms, or processes.
- Design, development, manufacturing, and commercialization of medical devices and medical software.
Documents Needed
- Accepted shareholders' agreement or subscription agreement for the financing round
Eligibility
Who is eligible?
- For-profit life sciences companies
- Biotechnology companies in human or animal health
- Medical technology companies
Who is not eligible
- Medical, dental, optical, orthotic, prosthetic, and clinical laboratories
- Medical equipment distributors and companies focused only on commercialization
- Consumer-only digital health and health ICT companies
- Cannabis-related businesses outside Health Canada-approved pharmaceutical-grade products or ingredients
Eligible geographic areas
- Quebec
Processing and Agreement
- Admissibility review starts when the accepted shareholders' or subscription agreement is received.
- New applications are currently suspended until further notice.
Additional information
- The program was interrupted on November 12, 2024.
- Investissement Québec has suspended new applications until further notice.
Contacts
Frequently Asked Questions about the Biomed Propulsion Program Program
Here are answers to the most common questions about the Biomed Propulsion Program. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Biomed Propulsion Program?
Participating loans of up to $10 million support Quebec life sciences companies with strong growth potential. The program helps finance research commercialization, product development, R&D, and medical technology commercialization.
How much funding can be received?
Biomed Propulsion Program Funds up to 50% of admissible expenses, capped at $10,000,000 per project.
Who is eligible for the Biomed Propulsion Program program?
To be eligible for the Biomed Propulsion Program program, you must:
For-profit life sciences company
Head office and most jobs in Quebec
Private financing required
What expenses are eligible under Biomed Propulsion Program?
Commercialization of research results in the life sciences sector.
Research and development in biotechnology.
Development of life sciences products, platforms, or processes.
Design, development, manufacturing, and commercialization of medical devices and medical software.
Who can I contact for more information about the Biomed Propulsion Program?
You can contact Investissement Québec (IQ) by email at none or by phone at none.
Where is the Biomed Propulsion Program available?
The Biomed Propulsion Program program is available the province of Quebec.
Is the Biomed Propulsion Program a grant, loan, or tax credit?
Biomed Propulsion Program is a Loans and Capital investments