Culture and Communications Investment Fund
QC, Canada
Support for cultural enterprises in Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
- grant_single|closingDateJune 24, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Information and cultural industries
- Arts, entertainment and recreation
grant_single|grantors
- Fonds d'investissement de la culture et des communications (FICC)
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Quasi-equity loans for performing arts, publishing, audiovisual, recording, radio, television, multimedia and digital companies.
grant_single_labels|projects
This grant requires companies to have a place of business in Quebec. Therefore, eligibility is specific to this geographic location to support regional cultural enterprises.
- Companies with a place of business in Quebec.
grant_single|admissibleProjectsExample
$100,000
Develop an interactive radio show that integrates audience participation through social media
$90,000
Publish a series of educational e-books for high school students across Canada
$150,000
Launch a new music recording studio focused on supporting emerging local artists
$150,000
Develop a new digital platform for distributing independent films to a global audience
$180,000
Expand a multimedia company’s operations by integrating AR/VR technology into existing content
$90,000
Implement a new content management system for a digital publication focusing on local stories
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and intended business activities.
- The applicant must be a cultural enterprise with share capital or a social economy enterprise such as a non-profit organization (NPO) or cooperative (co-op).
- The applicant must have a place of business in Quebec.
- The company must be dedicated to the creation, production, or dissemination of cultural content, or offer technical or technological support services to content businesses.
- The company must operate in the fields of performing arts, publishing, audiovisual, recording, radio, television, multimedia, or digital sectors.
- The applicant must comply with agreements with Union des Artistes (UDA), Quebec Musician’s Guild, Union des écrivaines et des écrivains québécois, and Société de développement des entreprises culturelles (SODEC).
grant_eligibility_criteria|who_can_apply
FICC services are available to cultural enterprises with share capital and social economy enterprises, including NPOs and co-ops, situated in Quebec, that focus on creating, producing, or distributing cultural content and providing technical or technological support services to such businesses.
- Cultural enterprises with share capital.
- Non-profit organizations (NPOs) located in Quebec.
- Cooperatives (co-ops) located in Quebec.
- Enterprises working in performing arts, publishing, audiovisual, recording, radio, television, multimedia, and digital sectors.
- Companies providing technical or technological support to content businesses.
grant_eligibility_criteria|who_cannot_apply
This grant is tailored to cultural enterprises with specific eligibility requirements, thereby excluding certain other types of companies. Restrictions emphasize aligning resources with entities that contribute to cultural and communicative advancements.
- Non-cultural enterprises whose primary activities do not include the creation, production, and dissemination of cultural content.
- Companies that do not have share capital or are not part of the social economy, such as NPOs and co-ops.
- Enterprises without a physical presence or business operations in Quebec.
- Industries not focused on performing arts, publishing, audiovisual, recording, radio, television, multimedia, or digital sectors.
grant_eligibility_criteria|eligible_expenses
This grant supports projects and activities that enhance the cultural sector in Quebec through various innovative and growth-oriented initiatives. The eligible projects aim at strengthening companies dedicated to producing and distributing cultural content, as well as fostering technological advancement and business transformation within the sector.
- Company growth initiatives focused on expanding cultural enterprises.
- Marketing and market expansion projects for cultural products and services.
- Development of new business models to improve the cultural industry.
- Technological innovations that facilitate the creation and dissemination of cultural content.
- Mergers and acquisitions aimed at consolidating industry sectors within Quebec or internationally.
- Succession projects ensuring the continuation of cultural company contributions to the industry.
- Projects showcasing outstanding quality or originality in cultural products or services.
grant_eligibility_criteria|zone
Eligible geographic zones for this grant are solely located within Quebec, Canada.
- Quebec
grant_single_labels|criteria
The evaluation and selection of projects for this grant are based on the ability of the cultural enterprises to meet specific criteria aimed at fostering growth, innovation, and continued contribution to the cultural industry.
- Company growth potential and expansion capabilities.
- Quality and innovation of products and services, demonstrating how they stand out from competitors.
- Strength and creativity of the management team, including industry knowledge and leadership expertise.
- Current and future profitability with a clear business strategy for achieving the business plan over three to five years.
- Effectiveness of the business plan, including target market analysis and promotional strategy.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Preliminary Meeting
- Contact a FICC member to arrange a preliminary meeting.
- Discuss your interest in obtaining funding and present an overview of your business.
- Provide necessary documents as requested, such as a business plan and financial statements.
- Step 2: Submission of Business Plan
- If invited by FICC, submit a detailed business plan.
- Ensure that the business plan covers the company's business nature, market analysis, competition, and team presentation.
- Clarify the purpose of the financing application.
- Step 3: Await Interest Confirmation
- FICC reviews the business plan to determine interest.
- If interested, receive a letter of intent outlining investment parameters.
- Step 4: Detailed Analysis
- FICC performs a comprehensive analysis of company achievements and financial data.
- Collaborate with FICC during this phase to provide additional information as needed.
- Step 5: Investment Proposal Approval
- FICC submits an investment proposal to its Board of Directors for approval.
- Await the outcome of the board's decision.
- Step 6: Receive Investment Offer
- Upon approval, FICC issues an offer letter confirming the investment commitment.
- Review the terms and conditions outlined in the offer letter.
- Step 7: Due Diligence and Partnership
- Complete all due diligence checks, including legal, financial, and business evaluations.
- FICC proceeds with the investment disbursement.
- Inaugurate the partnership phase, utilizing FICC's support for business development.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- FICC favors projects that contribute to the growth and consolidation of the cultural sector in Quebec or internationally.
- The investment process includes a thorough analysis of the company's achievements and market data.
- Partnerships involve leveraging FICC's team expertise and business network to support company development.
- FICC may invite other financial partners to co-invest to overcome traditional financial barriers.
- Companies must comply with agreements from key cultural unions and organizations.
Apply to this program
Funding Cultural Enterprises for Sustainable Growth
The Fonds d'investissement de la culture et des communications (FICC) grant offers financial support to cultural enterprises in Quebec, including non-profit organizations and cooperatives, fostering the creation and distribution of cultural content. This grant employs a mix of quasi-equity financial products designed to meet the unique needs of businesses operating in the cultural sector, helping them innovate and expand.
Detailed Insights into FICC's Support for Cultural Enterprises
The FICC grant provides crucial financial resources to cultural enterprises in Quebec, supporting both for-profit and social-economy companies engaged in creating, producing, and disseminating cultural content. Through quasi-equity financial products—ranging from unsecured corporate loans to equity investments—FICC assists companies in attracting resources for their growth, marketing, new business model development, and technological innovations.
One notable feature of the FICC's offering is its adaptability to the financial structure of the supported company. Whether through unsecured loans with a customizable principal repayment based on cash flow or equity investments that might include stock options and subscription warrants, FICC ensures the terms align with the company’s financial situation and future growth potential. Such flexibility is pivotal for cultural enterprises often facing hurdles in securing funding from traditional financial institutions due to sector-specific challenges and long project gestation periods.
Cultural enterprises can also benefit from FICC’s short-term financing, bridging financing gaps by securing advances against future tax credits or receivables. This method is particularly beneficial for projects waiting on funding from organizations like the Canada Media Fund or dealing with the delays inherent in the Scientific Research and Experimental Development programs. FICC’s strategy ensures continuous project workflows by providing a financial buffer when conventional channels cannot meet immediate funding needs.
Partnerships remain a core strength of the FICC funding model. By potentially co-investing with other financial partners, FICC not only stretches its resources further but also integrates companies into a broader network, enhancing the legitimacy and financial stability of cultural enterprises in investors’ eyes. This approach tackles the cultural industry’s endemic issue of prejudicial views by fostering collaborative investing and demonstrating the sector’s viability as a diverse investment opportunity.
Furthermore, FICC actively involves itself in the strategic planning and execution phases post-investment. By leveraging its team’s expertise and extensive business networks, FICC provides not just capital but also mentorship and strategic guidance, critical for optimizing business operations and enhancing value creations for the funded entities. Such involvement is crucial for cultural enterprises where growth is intertwined with both creative and commercial success.
FICC’s active funding model also ensures compliance with major institutional agreements and regulatory frameworks, including adherence to Union des Artistes (UDA), Quebec Musicians’ Guild, and Société de développement des entreprises culturelles (SODEC) stipulations. This compliance is essential not only for ethical operations but also for maintaining industry standards and safeguarding the interests of cultural workers.
This grant also prioritizes strategic investment in projects aligned with Quebec's cultural prosperity. By supporting mergers and acquisitions that consolidate industry sectors, FICC empowers companies to respond dynamically to market opportunities and catalyze sectorial growth both domestically and internationally.
FICC’s financial products and structured support plan underscore its commitment to advancing Quebec’s cultural industries, contributing substantially to their resilience, evolution, and long-term sustainability. This grant not only fuels economic performance but also enriches the cultural fabric by enabling enterprises to realize projects that may otherwise remain unattainable due to financial constraints.
