How much funding can be received?

Funds up to 50% of admissible expenses, capped at $2000000 per project.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the Impulsion SME?

Impulsion SME is funded by Gouvernement du Québec, Investissement Québec (IQ)

What are Impulsion SME's eligibility criterias?

Eligible companies must be for-profit entities from any economic sector, with their head office, decision-making center, and the majority of permanent jobs located in Quebec. Ineligible companies include non-profit organizations, cooperatives, and for-profit companies operating in traditional retail, accommodation and food services, personal services and laundry, and gambling sectors.

Impulsion SME

QC, Canada

Access to investment capital

grant_single|update January 25, 2025

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grant_single|closingDateNovember 12, 2024
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Loans and Capital investments

grant_single|eligibleIndustries

Manufacturing
Information and cultural industries
Professional, scientific and technical services
Health care and social assistance

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Gouvernement du Québec
Investissement Québec (IQ)

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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.

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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

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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.

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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.

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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.

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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.