Compétivert — Investment Matching Solution
Montréal, QC, Canada
Funding to boost growth of businesses in Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJuly 27, 2022
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
grant_single|grantors
- Gouvernement du Québec
- Investissement Québec (IQ)
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grant_card_status|open
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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.
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This grant is available to companies located across all regions of Québec as facilitated by Investissement Québec. It ensures businesses throughout the province can access support for becoming more competitive with green economy initiatives.
- All regions within the province of Québec, Canada.
grant_single|admissibleProjectsExample
$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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
Eligible expenses for this grant include specific costs related to the environmental performance diagnostic service.
- Costs related to the environmental performance diagnostic service provided by Investissement Québec – CRIQ, which may be eligible under certain conditions for a subsidy covering up to 50% of expenses.
grant_single_labels|criteria
The grant provided by the Compétivert initiative does not specify detailed evaluation and selection criteria in the provided context.
nothing
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Here are the steps to submit an application for the Compétivert initiative:
- Step 1: Assessment of Eligibility
- Review the initiative's eligibility criteria outlined on competivert.com to ensure your project aligns with the goals of Compétivert.
- Ensure your business stage, project type, and objectives meet the requirements.
- Step 2: Information Gathering
- Compile detailed information about your project, including the intended use of clean technologies or eco-responsible practices.
- Gather financial documents and proof of concept or previous project success.
- Step 3: Consultation with Investissement Québec
- Contact Investissement Québec representatives to discuss your project and funding needs.
- Consider the Diagnostic de Performance Environnementale Industrielle service, if applicable, for technology assessment benefits.
- Step 4: Draft Application
- Prepare a comprehensive proposal that includes project details, expected outcomes, and alignment with Compétivert’s objectives.
- Ensure all required information and documents, such as budgets and timelines, are included.
- Step 5: Application Submission
- Access the Compétivert application portal through competivert.com.
- Complete the online application form and upload all supporting documents.
- Review the application for accuracy and completeness.
- Submit the application before the designated deadline.
- Step 6: Application Confirmation
- Receive confirmation of your submission, including an application reference number.
- Keep the confirmation for future correspondence and tracking purposes.
- Step 7: Await Response
- The grant committee will review the application and communicate the decision within a specified timeframe.
- Be prepared to provide additional information if requested by Investissement Québec.
grant_single_labels|otherInfo
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.
Apply to this program
Enhancing Competitiveness through Green Economy Innovations
The Compétivert initiative encourages Quebec businesses to integrate clean technologies and eco-friendly practices to boost competitiveness while minimizing environmental impact. This grant by Investissement Québec aligns with Quebec's Green Economy Plan, offering significant financial and strategic support to participating enterprises.
Detailed Insights into Compétivert and Its Strategic Importance
Compétivert, initiated by Investissement Québec, aims to shepherd businesses across the province towards more sustainable and competitive operations by encouraging the adoption of clean technologies and eco-responsible practices. The initiative operates in concert with Quebec's broader Green Economy Plan, focusing on reducing greenhouse gas emissions and promoting environmental sustainability in the industrial sector, which is a major contributor to the province's emissions.
This program sets a target to provide $375 million in financing over three years (2021-2024) for projects demonstrating innovation in clean technology. By leveraging both its proprietary finances and Quebec government funds, the initiative also works synergistically with financial institutions, investment funds, and private partners to maximize impact.
Compétivert offers flexible solutions designed to meet the diverse needs of Quebec businesses. The financial solutions include a dedicated funding mechanism for projects that integrate clean technology or eco-friendly practices, with repayment terms allowing for up to 48 months of capital repayment moratorium to support project rollout.
Moreover, the initiative includes an investment-matching solution, facilitating equity participation in Quebec-based companies developing clean technologies. This venture capital approach is revolutionary for Investissement Québec and is intended to assist startup and post-startup enterprises with proven concepts further their development with necessary capital support.
An additional feature of Compétivert is the industrial environmental performance diagnostic service offered by Investissement Québec – CRIQ. This service provides technical expertise, analyzing industrial processes to identify prioritized and profitable actions for sustainable productivity. The diagnostic aims at aligning enterprises with best practices and can qualify for up to 50% subsidization from the Écoleader Fund, under specific conditions.
Investissement Québec underpins Compétivert's strategic role with awareness activities like master classes featuring expert insights and entrepreneur testimonials, meant to guide businesses through their transformation towards sustainability.
From a broader perspective, Compétivert plays an instrumental role in advancing government goals, such as the Plan for a Green Economy 2030, with a deep commitment to curbing greenhouse gas emissions which are heavily driven by the industrial sector. The initiative reflects a crucial crossroads, encouraging businesses to reap benefits like reduced production costs, increased market demand, appealing to the workforce, and opening up new financial pathways by minimizing their environmental footprint.
The commitment by Investissement Québec extends beyond financial backing, aspiring to align its responsible investment practices with global best standards, including adopting ESG criteria by April 2022 and embedding sustainable finance principles guided by UN Sustainable Development Goals and the TCFD recommendations. This strategic direction is situated to not only influence immediate economic structures but also set an example for systemic transformation towards sustainable development.
Ultimately, Compétivert represents a transformative opportunity for Quebec enterprises to align operational objectives with sustainability goals, opening gateways to extensive economic and ecological advantages in an anticipated $23 trillion global clean technology market by 2030.
