Compétivert — Investment Matching Solution
Last Update: January 24, 2025
Montréal, QC
Funding to boost growth of businesses in Quebec
Compétivert — Investment Matching Solution at a glance
Eligible Funding
- From $1,000,000 to $5,000,000
- Up to 50% of project cost
Timeline
- Open Date : July 9, 2024
Financing Type
Loans and Capital investments
Eligible Industries
- Manufacturing
Grant Providers
- Gouvernement du Québec
- Investissement Québec (IQ)
Status
Open
Overview of the Compétivert — Investment Matching Solution program
Your Quebec business with strong growth potential could secure the capital needed to carry out projects that have a significant impact on the environment and a strong market potential.
Financing terms and conditions
This grant offers flexible financing modalities tailored to the needs of recipients while ensuring optimal resource utilization. The modalities are designed to facilitate the integration of clean technologies and eco-responsible practices.
- A capital repayment moratorium that can extend up to 48 months to accommodate project deployment.
- Equity participation through investment matching solutions in collaboration with investment funds where Investissement Québec is a sponsor.
- Focus on supporting start-up and post-start-up companies that have achieved sales following a proof of concept.
- Complementary to market solutions, providing innovative companies with rapid access to capital needed for growth.
Eligible projects & activities
The Compétivert grant program is designed to help businesses in Québec enhance their competitiveness by adopting clean technologies and eco-friendly practices. The program includes several key activities aimed at supporting innovative projects and improving environmental performance.
- Integration of clean technologies or eco-friendly practices in business operations.
- Equity investment in companies developing clean technologies in Québec, particularly for startups and post-startups that have achieved sales following a proof of concept.
- Conducting industrial environmental performance diagnostics to identify and prioritize sustainable productivity projects.
- Offering master classes and informational content to raise awareness and provide guidance to businesses on eco-responsibility.
Examples of admissible projects:
$ 3,600,000
Install solar panels on company manufacturing plant to improve energy efficiency
$ 4,000,000
Implement an industrial recycling program to convert waste materials into reusable products
$ 3,500,000
Create an ecological packaging solution to reduce plastic waste for consumer goods
$ 5,000,000
Develop a new biofuel production process with reduced GHG emissions
$ 4,000,000
Upgrade transportation fleet to electric vehicles to reduce carbon footprint
$ 5,000,000
Develop a waste-to-energy incineration system to convert waste into electricity
Eligibility criteria of the Compétivert — Investment Matching Solution program
The eligibility criteria for the Compétivert initiative grant are focused on the type of projects and the stages of business development.
- The projects should involve the integration of clean technologies or eco-responsible practices.
- Eligible projects are those that aim to innovate in clean technology fields.
- Businesses in the startup or post-startup stage that have achieved sales following a proof of concept with a strategic player or diverse clientele are eligible for equity participation.
Who is eligible?
This grant targets businesses in Quebec looking to adopt clean technologies and eco-responsible practices to enhance competitiveness while reducing their environmental footprint.
- Companies interested in integrating clean technologies or eco-responsible practices.
- Businesses at the startup or post-startup stage with sales following a proof of concept with a strategic player or diversified clientele.
- Enterprises requiring financial solutions for projects involving performance improvements through sustainable productivity.
- Organizations seeking venture capital for growth in the clean technologies sector.
- Industries looking for technological support to enhance productivity while adhering to sustainable development principles.
Eligible expenses
The Competivert initiative provides support for businesses looking to integrate green technologies and sustainable practices. The eligible projects focus on enhancing environmental performance, reducing emissions, and promoting clean technologies and economic sustainability.
- Integration of clean technologies in business operations.
- Adoption of eco-friendly practices to reduce environmental impact.
- Development of clean technologies at startup and post-startup stages.
- Industrial environmental performance diagnostics to identify sustainable actions and projects.
- Participation in educational activities featuring experts and entrepreneurs on environmental practices.
- Projects contributing to significant reduction of greenhouse gas emissions.
Eligible geographic areas
This grant is specifically targeted at companies located throughout the province of Quebec. It focuses on fostering innovation in clean technologies across various regions to support the shift towards a more sustainable economy.
- Businesses operating within any administrative region of Quebec.
Eligibility criteria of the Compétivert — Investment Matching Solution program
The grant provided by the Compétivert initiative does not specify detailed evaluation and selection criteria in the provided context.
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How to apply to the Compétivert — Investment Matching Solution program
1
Contacting Investissement Québec
- Visit the site competivert.com for more information about the program.
- Contact an advisor from Investissement Québec to discuss your project and your eligibility for the various financing and support solutions.
2
Industrial Environmental Performance Diagnosis
- Consult the technical experts of Investissement Québec – CRIQ to conduct a diagnosis of your industrial processes and procedures if needed.
- Define, with the help of the experts, a list of priority actions and projects in terms of sustainable innovation.
3
Preparation of the funding/support request
- Develop a project proposal that includes the integration of clean technologies or eco-responsible practices.
- Gather all necessary documents and supporting evidence, which may include recommendations from the assessment, a detailed financial plan, etc.
4
Submission of the request
Submit your funding or support request through the channels determined by Investissement Québec, which may include an online portal or direct contact with an advisor.
5
Follow-up on the request
- Receive a confirmation of the receipt of your request from Investissement Québec.
- Wait for the evaluation of your request and prepare clarifications or additional documents if required.
Additional information
Here are additional relevant details for this grant:
- The initiative is supported by high-level government officials, including the Prime Minister of Quebec and the Minister of Economy and Innovation, indicating strong governmental backing.
- A target funding amount is set at $375 million over three years (2021-2024), emphasizing the scale and ambition of the initiative.
- Compétivert aligns with the Quebec government's Plan for a Green Economy 2030, demonstrating strategic alignment with broader provincial goals.
- The initiative aims to significantly reduce greenhouse gas emissions in the industrial sector, highlighting its environmental impact focus.
- Participating in the initiative may provide competitive advantages such as reduced production costs, increased customer demand, and attraction of skilled workforce.
- Investissement Québec has committed to adopting a responsible investment and sustainable finance policy by April 1, 2022, ensuring that environmental, social, and governance factors are considered.
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