Impulsion SME
At a glance
- From 250,000$ to 2,000,000$
- 50% of project cost
- Open Date : May 10, 2023
- All industries
- Investissement Québec
- Gouvernement du Québec
Overview
Eligibility criteria
The Impulsion PME grant is designed to help young, innovative companies with high growth potential access investment capital at the seed stage. To be eligible for this grant, companies must meet specific criteria:
- Be innovative and have high growth potential
- Have at least two full-time paid employees
- Have at least one client or market validation agreement (except for the life sciences sector)
- Be referred by a recognized entity
- Have a personalized support plan completed and approved by their referring entity
- Present a letter of intent outlining the main investment parameters filled out by the recognized investor
- Plan to undertake a major fundraising round and demonstrate investment needs within the next 24 months (48 months for the biopharmaceutical sector)
Who is eligible
Eligible companies for the Impulsion PME grant must be for-profit businesses from all economic sectors with their headquarters, decision center, and majority of permanent jobs in Quebec. Exclusions include non-profit organizations, cooperatives, and businesses in retail, accommodation and food services, personal services, laundry, as well as gambling and lottery.
- For-profit businesses from all economic sectors
- Headquarters, decision center, and majority of jobs in Quebec
- Exclusions: non-profit organizations, cooperatives, retail, accommodation and food services, personal services, laundry, gambling, and lottery
Who is not eligible
Some types of companies are not eligible for this grant. They include:
- Non-profit organizations and cooperatives
- For-profit companies in retail, accommodation and food services, personal services, laundry services, and gambling and lottery sectors
Eligible expenses
The Impulsion PME grant does not specify eligible expenses.
- Nothing specified
Eligible projects & activities
The Impulsion PME program supports innovative young companies with high growth potential by providing investment capital at the seed stage. Eligible projects or activities must be innovative, have strong growth potential, and be preparing for a major fundraising round.
- Projects developing new products or processes with significant advantages in the market
- Companies with innovative business models poised for rapid growth
- Need for significant investment in the next 24-48 months
Evaluation & selection criteria
There are evaluation and selection criteria for this grant. The selection process involves entities referring the best companies, which are then analyzed by Investissement Québec with the help of a committee. It is a competitive program where companies can reapply if their initial application is not successful.
- Companies must be innovative and have high development potential.
- Minimum of two full-time paid employees.
- Must have at least one customer or market validation agreement.
- Must be referred by a recognized entity.
- Have a completed or approved personalized support plan.
- Present a letter of intent with key investment parameters.
- Plan to raise significant funds and demonstrate investment needs within the next 24 months (48 months for biopharmaceutical sectors).
How to apply
- Step 1: Check the eligibility criteria and ensure your business meets the requirements.
- Content: Review the program guidelines and criteria.
- Implications: Ensure your business qualifies before proceeding with the application.
- Step 2: Prepare the necessary documents for submission.
- Content: Gather all required paperwork, including the application form, business plan, financial statements, and letters of intent.
- Implications: Ensure all documentation is complete and in line with the program's requirements.
- Step 3: Submit your application through your referring entity.
- Content: Submit the application package to Investissement Québec through your recognized entity.
- Implications: The application process involves evaluation by a committee, so ensure all information is accurate and thorough.
Additional information
Additional information:
- The Impulsion PME program aims to support innovative startups with high growth potential at the seed stage by providing access to investment capital.
- Applicants should carefully review all eligibility criteria and required documentation before submitting their application to ensure compliance with program guidelines.
Summary of Impulsion PME Grant
Impulsion PME is a government-funded program administered by Investissement Québec to support innovative and high-growth potential startups in Quebec. The program aims to provide capital investment at the early-stage to help businesses navigate the pre-commercialization phase and attract private investors for future funding rounds.
Detailed Explanation of Impulsion PME Grant
Impulsion PME is a strategic initiative designed to assist young innovative companies in Quebec in accessing vital investment capital during the crucial early stages of development. By partnering with recognized entities and investors, the program offers equity or quasi-equity investments to eligible businesses, matching private investor contributions and following similar investment criteria.
The program's investment amount ranges from $250,000 to $2,000,000 for biopharmaceutical companies and up to $1,000,000 for other sectors, with specific conditions for businesses located in the Montreal metropolitan census area.
To qualify for Impulsion PME, companies must demonstrate innovation, high growth potential, a minimum of two full-time paid employees, and either a client or market validation agreement. Additionally, businesses need to be referred by a recognized entity and have a personalized support plan approved by the referring entity.
While certain restrictions apply, including limitations on previous equity fundraising and program investments, Impulsion PME offers eligible startups the opportunity to secure crucial funding for their growth and development. The program's rigorous selection process ensures that only the most promising and innovative companies receive support, setting the stage for future success in the competitive market.
