Impulsion SME
grant_single|update May 4, 2025
QC, Canada
Access to investment capital
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDate November 12, 2024
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|open
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
- Development and commercialization of innovative products or services.
- Expansion into high-potential markets with a defined growth strategy.
- Establishment of strategic partnerships or alliances to support business growth.
- Implementation of robust business models aiming for performance and scalability.
- Projects with significant positive economic impact and value creation in Quebec.
grant_single|admissibleProjectsExample
$ 1,500,000
Development of a cutting-edge AI-driven medical device for enhanced diagnostic accuracy
$ 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
$ 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
- The applicant must present a strategically positioned product or service with clearly demonstrated differentiation in the market.
- The business must show an innovative solution with measures to protect its competitive advantage.
- The product or service should be at a commercially viable stage, with market readiness and client interest evident.
- The company’s management team should have relevant experience and demonstrate the ability to lead and surround themselves with key partners.
- The project must have a significant potential for positive economic impact in Quebec, including job creation or partnerships.
grant_eligibility_criteria|who_can_apply
- Life sciences companies
- Medtech companies
- Innovative small and medium-sized enterprises (SMEs) with new products or services
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
- Quebec
grant_single_labels|criteria
- 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).
grant_single_labels|apply
1
Preparation and selection of documents
- Develop an investment request in accordance with the program criteria.
- Complete or validate a support plan and have it approved by the reference entity.
- Obtain one or more letters of intent from a recognized investor or private investors.
- Obtain a letter of recommendation from the reference entity.
- Complete the due diligence form with the support of the recognized investor.
2
Submission of the application
Submit all requests and documents required by the referring entity to Investissement Québec.
3
Selection process
- Applications are analyzed by Investissement Québec with the contribution of a selection committee.
- Receive the selection results from Investissement Québec and the referring entity.
4
Possibility of reinvestment
If the company has already benefited from the Program, it may submit a new application for potential reinvestment.
grant_single_labels|otherInfo
- 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.
grant_single_labels|contact
1 844 474-6367
Apply to this program
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