How much funding can be received?

Funds up to 10% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Business Assistance — Immigrant Investor Program?

Business Assistance — Immigrant Investor Program is funded by Gouvernement du Québec, Investissement Québec (IQ)

What are Business Assistance — Immigrant Investor Program's eligibility criterias?

The project costs must be at least $300,000; $270,000 for startup enterprises. The enterprise's total consolidated assets must be less than $35 million. The project must be competitive and profitable.

Business Assistance — Immigrant Investor Program

Last Update: January 24, 2025

QC, Canada

Grants for growth and innovation in Quebec

Business Assistance — Immigrant Investor Program at a glance

Eligible Funding

Up to 10% of project cost

Timeline

Open Date : November 14, 2019

Financing Type

Grant and Funding

Eligible Industries

All industries

Grant Providers

Gouvernement du Québec
Investissement Québec (IQ)

Status

Open

Overview of the Business Assistance — Immigrant Investor Program program

Non-repayable contributions of $40,000 to $250,000 covering up to 10% of project costs for existing businesses and 15% for start-ups.

Financing 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.

Eligible projects & activities

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.

Examples of admissible projects:

$ 20,000

Develop an innovative software solution for small businesses

$ 20,000

Implement an advanced recycling system in the community

$ 20,000

Launch a centralized call service specializing in tourism information

$ 20,000

Upgrade production facilities to meet international compliance standards

$ 20,000

Expand our aquaculture operations with advanced marine biotechnology

Eligibility criteria of the Business Assistance — Immigrant Investor Program program

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.

Who is eligible?

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.

Who is not eligible

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.

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.

Eligible geographic areas

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.

Eligibility criteria of the Business Assistance — Immigrant Investor Program program

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.

How to apply to the Business Assistance — Immigrant Investor Program program

Preliminary preparation

Check your company's eligibility for the program, particularly in terms of industry sector and company size.
Estimate the costs of your project to ensure they exceed the required minimum threshold.
Gather financial and administrative information about the company to prepare the submission file.

Consultation with an accredited financial intermediary

Contact an accredited financial intermediary through the Investor Immigrants program.
Discuss the project details to secure a favorable recommendation.

Preparation of the application file

Prepare a project plan including detailed descriptions and a solid financial plan.
Include the necessary information to prove the project's profitability and competitiveness.

Submission of the file

The financial intermediary submits the file to IQ Immigrants Investisseurs Inc. on behalf of your company.
Ensure that all required information is complete and accurate before submission.

Follow-up on the request

Receive a submission confirmation from the financial intermediary.
Wait for a response regarding the approval of the application.

Additional information

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.