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)
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grant_card_status|open
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Non-repayable contributions of $40,000 to $250,000 covering up to 10% of project costs for existing businesses and 15% for start-ups.
grant_single_labels|projects
The grant is open to various eligible projects and activities. They prominently include sectors that focus on manufacturing, technology, environmental restoration, and more.
- Manufacturing sector projects
- New economy sectors (biotechnology, pharmaceutical industry, aeronautics, aerospace)
- High value-added information technology
- Tourism industry
- Environmental restoration
- Recycling, recovery, and waste processing industry
- Centralized call services
- Aquaculture, mariculture, and marine biotechnology
- Specialized horticulture
- Cooperatives or non-profit organizations in other sectors under specific conditions
- Business start-up, expansion, modernization, or production improvement investments
- Certification of compliance with a standard
- Technological or design innovation
- Market development: marketing products outside Quebec
grant_single|admissibleProjectsExample
$20,000
Ottawa
Develop an innovative software solution for small businesses
$20,000
Montreal
Launch a centralized call service specializing in tourism information
$20,000
Calgary
Implement an advanced recycling system in the community
$20,000
Toronto
Upgrade production facilities to meet international compliance standards
$20,000
Halifax
Expand our aquaculture operations with advanced marine biotechnology
grant_single_labels|admissibility
To be eligible for this grant, your enterprise must meet specific project cost requirements, have a total consolidated asset value below a certain threshold, and the project should be competitive and profitable.
- The costs of the project must be at least $300,000; $270,000 for start-up companies.
- The total consolidated assets of your enterprise must be below $35 million.
- The maximum duration of the project is two years.
- When the financial intermediary submits your file to IQ Immigrants Investors Inc., the project may have started but must not be completed. If the project has started, only the expenses incurred in the 12 months preceding the filing date by the financial intermediary are eligible.
- Your enterprise must be competitive and the project must be profitable.
grant_eligibility_criteria|who_can_apply
Yes, there are eligible types of companies for this grant. Companies must belong to specific sectors and meet certain economic and operational criteria.
- Manufacturing sector
- New economy (biotechnology, pharmaceutical industry, aeronautics, and aerospace)
- High value-added information technology
- Tourism industry
- Environmental restoration
- Recycling, recovery, and waste processing industry
- Centralized call services
- Aquaculture, mariculture, and marine biotechnology
- Specialized horticulture
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant. The eligibility is limited to companies that fall within specific sectors and conditions.
- Companies not recommended by an accredited financial intermediary
- Companies outside the listed sectors: manufacturing, new economy, high-value-added IT, tourism, environmental restoration, recycling, call centers, aquaculture, mariculture and marine biotech, specialized horticulture
- Companies whose projects do not meet the minimum cost criteria
- Companies with a total consolidated asset exceeding 35 million dollars
- Companies whose project duration exceeds two years
- Companies that are not competitive or have unprofitable projects
grant_eligibility_criteria|eligible_expenses
The eligible expenses for this grant are tied to various types of investments and market development projects.
- Startup expenses
- Business expansion costs
- Modernization or production improvement expenses
- Compliance certification costs
- Technological or design innovation expenses
- Commercialization of products outside Quebec
grant_eligibility_criteria|zone
The grant targets businesses aiming to benefit from investments made by immigrant investors in Quebec, Canada.
- 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
- Step 1: Ensure Eligibility
- Verify that your project costs are at least $300,000 ($270,000 for startup enterprises).
- Ensure your company's total consolidated assets are below $35 million.
- Confirm that your project adheres to the duration limit of two years and has not been completed.
- Check if your company is competitive and if the project is profitable.
- Step 2: Obtain Favorable Recommendation
- Seek a favorable recommendation from an accredited financial intermediary indicating that your business is eligible and the project aligns with the program's defined sectors.
- Step 3: Prepare Documentation
- Compile all necessary documentation including project details, financial statements, and evidence of the project's costs incurred within the past 12 months prior to submission.
- Step 4: Submit Application
- Submit your application through the accredited financial intermediary who will forward your dossier to IQ Immigrants Investisseurs Inc. for evaluation.
- Step 5: Await Decision
- Wait for the evaluation and decision by IQ Immigrants Investisseurs Inc. to know if your application has been approved for the non-repayable contribution.
grant_single_labels|otherInfo
The grant program utilizes funds from immigrant investors to provide non-repayable contributions to eligible businesses in specific sectors, aiming to support projects such as business startups, expansion, modernization, and market development.
- The contribution amount ranges from a minimum of $40,000 to a maximum of $250,000 per business every three years.
- The project costs must be at least $300,000 for existing businesses or $270,000 for startups.
- Only sectors like manufacturing, biotechnology, IT, tourism, environmental restoration, and specialized horticulture are eligible.
- The total consolidated assets of the business must be under $35 million.
- The project must be completed within two years.
- Only costs within the past 12 months prior to submitting the application are eligible if the project has already started.
- No fees are required for the processing of the application.
Apply to this program
Immigrant Investor Program: A Lucrative Business Financing Opportunity
The Immigrant Investor Program, administered by IQ Immigrants Investisseurs Inc. in partnership with financial intermediaries, offers non-repayable financial contributions. The program leverages investments from immigrant investors to support local businesses across various sectors, with contributions ranging from $40,000 to $250,000 over a three-year period.
Understanding the Immigrant Investor Program: A Pathway to Business Growth
The Immigrant Investor Program, spearheaded by IQ Immigrants Investisseurs Inc., offers a unique and lucrative opportunity for businesses in Quebec to access additional funding. This program, established in collaboration with accredited financial intermediaries, harnesses investments from immigrant investors to provide non-repayable contributions to local enterprises. Below, we will delve into the specifics of this program, outlining its benefits, eligibility criteria, and the application process.
Program Overview
The Immigrant Investor Program is designed to support businesses with significant funding contributions, facilitating growth and innovation. The program achieves this by employing funds sourced from immigrant investors, ensuring that these investments positively impact local enterprises. Here's a breakdown of the key aspects of the program:
- The contribution amount ranges from a minimum of $40,000 to a maximum of $250,000 per business over a three-year period.
- For projects with costs between $300,000 and $400,000, the financial aid is set at $40,000.
- The contributions are distributed over four years.
- For start-ups, the contribution can cover up to 15% of the project costs, while for established enterprises, the cap is set at 10%.
Eligibility Criteria
To qualify for the Immigrant Investor Program, businesses must meet certain eligibility criteria, ensuring that the funds are allocated to viable and competitive enterprises. Below are the main requirements:
- The project costs must be at least $300,000 for established enterprises or $270,000 for start-ups.
- The total consolidated assets of the business should not exceed $35 million.
- The maximum duration of the project is two years.
- Projects can already be underway at the time of the application, but they must not be completed. Only expenses incurred within 12 months prior to the submission date are eligible for consideration.
- Businesses must demonstrate competitiveness and the potential for project profitability.
In addition to the general criteria, businesses must operate within specific sectors to qualify for the program. These sectors include:
- Manufacturing
- New economy (biotechnology, pharmaceuticals, aerospace, and aeronautics)
- High value-added information technology
- Tourism
- Environmental restoration
- Recycling, waste reclamation, and processing
- Call centers
- Aquaculture, mariculture, and marine biotechnology
- Specialized horticulture
Under certain conditions, cooperatives and non-profit organizations engaged in business activities outside these sectors may also be eligible.
Application Process
The application process for the Immigrant Investor Program involves several key steps:
- Contact an accredited financial intermediary within the program to present your application. These intermediaries play a crucial role in evaluating the eligibility of projects and recommending them to IQ Immigrants Investisseurs Inc.
- The financial intermediary will assess the competitiveness and profitability of the project before submitting the application on behalf of the business.
- If deemed eligible, the intermediary will forward the application to IQ Immigrants Investisseurs Inc. for final consideration.
- Upon approval, the funds will be distributed over a period of four years.
Benefits of the Immigrant Investor Program
The primary benefit of the Immigrant Investor Program is the financial contribution provided to eligible businesses. This funding can be instrumental in various aspects of business growth and development, including:
- Start-up Ventures: New businesses often face challenges in securing initial funding. This program provides critical support to help them establish and expand their operations.
- Business Expansion: Established businesses looking to scale their production capacity or enter new markets can significantly benefit from the financial support offered by this program.
- Technological and Design Innovation: Innovation is key to staying competitive. The program encourages technological advancements and design improvements, enabling businesses to maintain their competitive edge.
- Market Development: The program also supports the commercialization of products outside Quebec, helping businesses to access new markets and customer bases.
Overall, the Immigrant Investor Program serves as a critical tool for businesses in Quebec, providing them with the necessary financial backing to achieve their growth objectives. By leveraging investments from immigrant investors, IQ Immigrants Investisseurs Inc. ensures that local businesses receive the support they need to thrive in a competitive market.
Additional Information
Businesses interested in applying for the Immigrant Investor Program should reach out to an accredited financial intermediary. These intermediaries are essential partners in navigating the application process and ensuring that all requisite criteria are met. For further assistance and detailed guidelines, businesses can also contact an advisor at Investissement Québec.
It's important to note that businesses do not need to pay fees to IQ Immigrants Investisseurs Inc., the financial intermediary, or financial consultants for the processing of their application. This makes the program highly accessible, allowing businesses to focus on their projects without the burden of additional costs.
Conclusion
The Immigrant Investor Program is a valuable resource for Quebec businesses, offering non-repayable financial contributions to support a wide range of projects. From start-ups to established enterprises, the program is designed to foster innovation, growth, and market development. By understanding the eligibility criteria and following the application process, businesses can unlock significant funding opportunities to fuel their success.
