Business Assistance — Immigrant Investor Program
QC, Canada
Grants for growth and innovation in Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Gouvernement du Québec
- Investissement Québec (IQ)
grant_single|status
grant_card_status|open
grant_single_labels|preview
<p>Non-repayable contributions of $40,000 to $250,000 covering up to 10% of project costs for existing businesses and 15% for start-ups.</p>
grant_single_labels|terms_and_conditions
This grant provides non-repayable financial contributions designed to support businesses that successfully meet specific project criteria. The financial support is geared towards fostering growth and innovation in eligible sectors.
- Minimum financial contribution amount is $40,000.
- Maximum contribution cannot exceed 10% of project costs, or 15% for start-up businesses.
- Projects with costs between $300,000 and $400,000 receive a set aid amount of $40,000.
- The maximum contribution per enterprise is capped at $250,000 over a three-year period.
- The financial contribution is distributed over four years.
grant_single_labels|projects
This grant supports projects that involve investment in various sectors by offering a non-repayable financial contribution. Eligible projects range from start-ups to technological advancements and market expansion.
- Business start-up, expansion, modernization, or production improvement in the manufacturing sector.
- Technological innovation or design in high value-added information technologies.
- Environmental restoration and recycling industry projects.
- Tourism industry enhancements.
- Commercialization of products outside Quebec.
- Specialized horticulture and biomass marine projects.
grant_single|admissibleProjectsExample
$ 20,000
Develop an innovative software solution for small businesses
$ 20,000
Launch a centralized call service specializing in tourism information
$ 20,000
Implement an advanced recycling system in the community
$ 20,000
Upgrade production facilities to meet international compliance standards
$ 20,000
Expand our aquaculture operations with advanced marine biotechnology
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's company status and project details.
- The project costs must be at least $300,000; $270,000 for startup companies.
- The total consolidated assets of the company must be less than $35 million.
- The maximum duration of the project is two years.
- The project can have started but must not be completed by the time the financial intermediary submits the application, and only expenses incurred within the 12 months preceding the submission are eligible.
- The company must be competitive and the project must be profitable.
- No fees are required for processing the application through IQ Immigrants Investisseurs Inc., the financial intermediary, or financial consultants.
grant_eligibility_criteria|who_can_apply
Eligible applicants for this grant are businesses that:1. Obtain a favorable recommendation from an accredited financial intermediary.2. Operate within specific sectors such as manufacturing, new economy industries (biotechnology, pharmaceutical, aeronautical, and aerospace), high value-added information technology, tourism, environmental restoration, recycling, and waste management, centralized call services, marine aquaculture and biotechnology, and specialized horticulture.3. In some cases, cooperatives or non-profit organizations engaged in businesses outside these sectors may also qualify.4. The criteria also specify that investments are targeted at projects concerning business startup, expansion, modernization or improvement of production, compliance certification, technological, or design innovation.5. Additionally, projects aimed at market development, specifically the commercialization of products outside Quebec, are eligible.6. Specific project criteria include project costs of at least $300,000 ($270,000 for startups), a total consolidated asset of less than $35 million for the company, a project duration not exceeding two years, and only expenses within the 12 months preceding submission being admissible if the project has already started.Overall, the program is designed to support competitive and profitable projects that contribute to economic growth in specified strategic sectors.
grant_eligibility_criteria|who_cannot_apply
This grant application does not specify any explicit exclusions regarding ineligible companies or industries. Therefore, only the information on eligible sectors is provided in the context.
grant_eligibility_criteria|eligible_expenses
This grant provides financial support for projects across a range of industries, focusing on business growth and technological advancement. Eligible projects can encompass a variety of activities aimed at enhancing production capabilities and expanding market reach.
- Startup, expansion, modernization, or production improvement activities.
- Certification of conformity to recognized standards.
- Technological or design innovation projects.
- Market development efforts aimed at the commercialization of products outside of Quebec.
grant_eligibility_criteria|zone
This grant is managed by IQ Immigrants Investisseurs Inc., which operates in partnership with Investissement Québec. The focus is on supporting businesses within the province of Quebec to foster local economic development.
- Businesses located in the province of Quebec.
grant_single_labels|criteria
The grant has specific evaluation and selection criteria that businesses must meet to be eligible for the financial contribution. These criteria ensure that only competitive and profitable projects are supported under the program.
- The project costs must be at least $300,000; $270,000 for startup enterprises.
- The total consolidated assets of the enterprise must be less than $35 million.
- The maximum duration of the project is two years.
- The project can be underway but not completed at the time of submission, and only expenses incurred in the 12 months preceding the submission are eligible.
- The enterprise must be competitive and the project must be profitable.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Contact an Accredited Financial Intermediary
- Identify and contact an accredited financial intermediary associated with the program.
- Discuss your business project to ensure it meets the program's eligibility criteria.
- Step 2: Obtain Recommendation
- Work with the financial intermediary to prepare your project proposal.
- Receive a favorable recommendation from the intermediary to proceed with the application.
- Step 3: Application Submission
- The financial intermediary submits your application to IQ Immigrants Investisseurs Inc. on your behalf.
- Ensure that any ongoing projects have only costs incurred within 12 months prior to the application submission.
- Step 4: Application Follow-up
- Await confirmation or feedback from IQ Immigrants Investisseurs Inc. regarding the status of your application.
- Respond promptly to any requests for additional information or clarification.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The financial contribution provided is non-repayable, meaning it does not need to be paid back.
- The contribution is disbursed over a period of four years, allowing for extended support across the project timeline.
- The maximum contribution an enterprise can receive is capped at $250,000 over a three-year period per company.
- There are no fees to be paid to IQ Immigrants Investisseurs inc., the financial intermediary, or financial consultants for processing the application.
- Projects must conform to a timeline such that any commenced project must have incurred its eligible expenses within the 12 months preceding the submission date by the financial intermediary.