Impulsion SME
QC, Canada
Access to investment capital
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateNovember 12, 2024
- grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- Gouvernement du Québec
- Investissement Québec (IQ)
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Investment for start-up of young innovative businesses with growth potential located in Quebec region.
grant_single_labels|terms_and_conditions
The Impulsion SME grant provides financing modalities that align with the collaborative investment goals between recognized investors and young innovative businesses. These modalities ensure a balanced approach to investment with shared financial responsibilities.
- Investment in equity or quasi-equity forms, such as convertible debentures and Simple Agreements for Future Equity.
- Matching investment amounts with those provided by private investors.
- The grant's investment cannot exceed 50% of the total financial package.
- Minimum investment amount is $250,000.
- Maximum investment amount is $2,000,000 for the biopharmaceutical sector, and $1,000,000 for other sectors, with an exception for companies in the Montreal metropolitan area, where the cap is $750,000.
grant_single_labels|projects
This program emphasizes innovation by granting funding opportunities to projects and activities that assist young enterprises through the crucial precommercial phase. The goal is to support growth potential and appeal to private investors with promising financial leveraging.
- Initiatives that focus on securing investment capital at the seed stage.
- Projects demonstrating high growth potential in innovative sectors.
- Business activities aimed at precommercialization and preparing for subsequent major fundraising.
grant_single|admissibleProjectsExample
$ 1,100,000
Significant improvement of existing recycling processes to increase efficiency and output
$ 900,000
Market validation for innovative eco-friendly packaging solutions targeting retail businesses
$ 1,500,000
Development of a cutting-edge AI-driven medical device for enhanced diagnostic accuracy
$ 850,000
Creation of a mobile application for local farm-to-table delivery services
$ 1,200,000
Expansion of a green energy solutions company focusing on solar panel installation and maintenance
$ 750,000
Launch of a personalized mentorship program for entrepreneurs in the tech industry
grant_single_labels|admissibility
Eligibility for the Impulsion SME grant is determined by specific requirements related to the company's characteristics and sector.
- The company must be a for-profit entity.
- The company's headquarters, decision-making center, and the majority of its permanent jobs must be located in Quebec.
- The grant is not available to non-profit organizations and cooperatives.
- Companies in retail, hospitality, and food services, personal services, laundry services, and traditional gambling and lottery sectors are not eligible.
- Additional exclusions may apply, as detailed in the program's FAQ.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Impulsion SME program are for-profit companies across all economic sectors, with their head office, decision-making center, and the majority of permanent jobs located in Quebec. However, certain exclusions apply, including non-profit organizations, cooperatives, and for-profit enterprises operating in retail, accommodation and food services, personal and laundry services, as well as gambling and lottery sectors. Additional specific exclusions may be applicable, which can be found in the program's FAQ.
grant_eligibility_criteria|who_cannot_apply
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.
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
This grant is designated for companies whose operations are centrally located within Quebec. The focus is on fostering growth and innovation among local enterprises.
- Companies with their head office in Quebec.
- Businesses with their decision-making center based in Quebec.
- Entities where the majority of permanent employees are employed in Quebec.
grant_single_labels|criteria
The evaluation and selection of projects for the Impulsion PME program are based on detailed criteria, each with specific point scores, to ensure alignment with the program's objectives and priorities.
- Products:Positionnement stratégique:1-2: Limited competition analysis
- 3: Identified key competitors and differentiation
- 4-5: Exhaustive competition analysis and niche market presence
- Degré d'innovation du produit:1-2: Lack of market entry barriers
- 3: Potential patents, trade secrets, or data barriers
- 4-5: Established patents and significant market entry barriers
- Degré de maturité du produit:1-2: TRL 5 or less (early prototype, limited testing)
- 3: TRL 5-7 (more advanced, testing integration)
- 4-5: TRL above 7 (commercialization stage)
- Marché:Marché adressable à fort potentiel:1-2: Limited market research and potential
- 3: North American market potential over $500M
- 4-5: Global market potential exceeding $2-5B
- Stratégie commerciale et Acquisition client (Sciences de la vie, medtech, etc.):1-2: Undefined regulatory strategy
- 3-4: Clearly identified regulatory strategy meeting milestones
- 4-5: Advanced regulatory approval process, clear market niche strategy
- Partenariat stratégique:Présence d’un investisseur stratégique:1: No strategic investor
- 3: Recognized incubator involvement
- 5: Significant strategic investor impacting revenue positively
- Partenariat important signé:1-2: No significant partnerships or licenses
- 3: Licensing agreements opening new markets
- 4-5: Strategic partnerships with national or global players
- Équipe de gestion:Entrepreneur à succès - ou nouveau profil prometteur:1-2: Limited experience and networks
- 3: Modest experience with market references
- 4-5: Strong sector and business management experience
- Expérience en commercialisation:1-2: Limited sales and commercial experience
- 3: Some sales experience and commercial understanding
- 4-5: Extensive sales success and strategic partnerships
- Équipe entourée de personnes clés:1-2: Limited or low-value network
- 3: Developing network supporting company growth
- 4-5: Extensive high-value network for growth
- Financier:Modèle d'affaires:1-2: Unproven business model with performance gaps
- 3: Defined value proposition and positive KPI trends
- 4-5: Proven business model with accelerating growth potential
- Ratios des prévisions financières:1-2: Incomplete and undocumented financial forecasts
- 3: Complete forecasts with credible assumptions
- 4-5: Efficient fund usage and strong financial support
- Rendement espéré et risque de perte:1-2: Below-market standards, high dilution risk
- 3: Market-standard investment terms, moderate risk
- 4-5: Attractive investment terms, low risk
- Impact Québec:Retombées positives potentielles au Québec:1-2: Short-term development vision with limited impact
- 3: Medium-term development vision with interesting potential
- 4-5: Long-term vision with significant job and value creation
- Importance relative du Programme Impulsion PME dans le montage financier:1-2: Non-essential program participation
- 3: Important participation for financial structure
- 4-5: Essential participation with strategic benefits
grant_single_labels|register
- Step 1: Ensure Eligibility
- Verify that your company meets the criteria for innovation, high growth potential, and other specifications outlined in the grant guidelines.
- Ensure your company is at the pre-commercialization stage and has not completed a significant equity funding round above $250,000, unless in the life sciences sector.
- Step 2: Engage with Recognized Entities
- Identify and contact an entity reconnue (recognized entity) to refer your company to the program.
- Collaborate with this entity to prepare your application materials.
- Step 3: Prepare Application Documents
- Complete a request for investment.
- Compile a personalized support plan that is completed, validated, and approved by the entity reconnue.
- Obtain a letter(s) of intent from a recognized investor or private investors outlining key investment parameters.
- Gather a signed recommendation letter from the referring entity.
- Complete a due diligence form by the recognized investor.
- Step 4: Submission Process
- The referring entity submits the application package on your behalf to Investissement Québec.
- Step 5: Application Review
- Investissement Québec, along with a selection committee, reviews the applications on a competitive basis.
- Results are communicated to you and the referring entity. If rejected, you may reapply.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The program's investment is limited to a maximum of 50% of the total financial structure.
- Different maximum funding levels apply depending on your sector, with biopharmaceuticals eligible for higher maximums.
- Entrepreneurs must collaborate with recognized entities for investment recommendations and support.
- Investment comes in forms like equity or quasi-equity, which includes convertible debentures and agreements for future equity.
- Funding is suspended as of November 12, 2024, until further notice by Investissement Québec.
grant_single_labels|contact
1 844 474-6367
