Impulsion SME

Who is eligible?

• Life sciences companies
• Medtech companies
• Innovative small and medium-sized enterprises (SMEs) with new products or services

Who is not eligible

This grant excludes certain companies and industries based on their status or primary activities. The restrictions are designed to focus support on sectors that align with the program's objectives for innovation and growth.

• Non-profit organizations and cooperatives.
• For-profit companies in the retail trade sector.
• Businesses involved in accommodation and food services.
• Companies offering personal services and laundry services.
• Enterprises engaged in gambling activities and lottery, in the traditional sense.

Eligible expenses

The grant is designed to help young innovative companies with high growth potential in Québec achieve significant milestones by supporting investment efforts during the pre-commercialization stage. The activities focus on accessing investment capital through strategic partnerships and improving the business model for future investment rounds.

• Collaboration with recognized investor entities to secure seed investment matching private investor contributions.
• Development and validation of innovative products or processes for market entry in a competitive landscape.
• Execution of a personalized business coaching plan approved by a recognized entity to ensure sustainable growth.
• Completion of a significant fundraising round, showcasing investment needs and potential for rapid growth.
• Preparation for major market launch activities and strategic positioning within the industry.

Eligible geographic areas

• Quebec

• Strategic positioning and competitive differentiation (Score: 1-5).
• Degree of innovation and maturity of the product or service (Score: 1-5).
• Market potential and quality of commercial or regulatory strategy (Score: 1-5).
• Strength and experience of the management team and key advisors (Score: 1-5).
• Financial model robustness and projected positive impact in Quebec (Score: 1-5).

• Step 1: Assess Strategic PositioningConduct a comprehensive analysis of your product or service’s competitive positioning and innovation level.
• Demonstrate your product’s degree of maturity and technological readiness (TRL) as referenced by Innovation Canada.
• Step 2: Analyze Market PotentialPrepare a robust market analysis, substantiated with credible sources.
• Define your addressable market size and growth potential.
• Document your commercial or regulatory strategy and client acquisition plans.
• Step 3: Demonstrate Strategic PartnershipsIdentify the presence and role of strategic investors or major partners.
• Include details on signed agreements, licenses, or significant collaborations, especially those impacting market access or revenue growth.
• Step 4: Present Management Team CapabilitiesDescribe the management’s experience in the sector, including entrepreneurial background, commercialization skills, and network strength.
• Mention advisory boards or specialized committees supporting the company.
• Step 5: Prepare Financial DocumentationProvide a detailed business model explanation and validate with clear KPIs.
• Present complete financial forecasts (income statements, balance sheet, cash flow) with documented assumptions.
• Demonstrate expected return, key ratios, and exit strategies, highlighting risk and anticipated dilution.
• Step 6: Document Project Impact in QuebecDetail the anticipated economic and employment benefits for Quebec.
• Explain the strategic importance of Impulsion PME’s participation in your financing structure.
• Step 7: Submit Application to Fund ProviderCompile all prepared materials, analyses, and documentation in alignment with evaluation criteria.
• Submit your application package through the designated channel as specified by the program (such as a portal, email, or official submission form).
• Step 8: Await Confirmation and Further InstructionsMonitor communications from the fund provider for confirmation of receipt and next steps in the evaluation process.

• Technology Readiness Levels (TRL) are used to assess product maturity, with definitions provided by Innovation Canada.
• The evaluation rubric places significant emphasis on strategic positioning, innovation, and the uniqueness of the applicant's market approach.
• Commercialization strategy and the presence of key industry partnerships are weighted heavily during evaluation.
• A strong, experienced management team with robust networks can considerably improve the evaluation score.