Culture and Communications Investment Fund

Who is eligible?

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.

Who is not eligible

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.

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.

Eligible geographic areas

The Culture and Communications Investment Fund is accessible to enterprises located in Quebec. This focus ensures that the funding supports regional cultural growth and development.

• Companies having a place of business in Quebec.

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.

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.

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.