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 deadline to apply is 2024-11-12T00:00:00Z.

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?

Must be a for-profit business seeking strategic positioning and innovation Must demonstrate market potential and business model viability Preference for projects creating value and jobs in Quebec

Impulsion SME

Last Update: July 22, 2025

QC, Canada

Access to investment capital

Impulsion SME at a glance

Eligible Funding

From $250,000 to $2,000,000
Up to 50% of project cost

Timeline

Closing date : November 12, 2024

Financing Type

Loans and Capital investments

Eligible Industries

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

Grant Providers

Gouvernement du Québec
Investissement Québec (IQ)

Program status

Open

Overview of the Impulsion SME program

Investment for start-up of young innovative businesses with growth potential located in Quebec region.

Financing 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.

Eligible projects & activities

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.

Examples of admissible projects:

$ 1,500,000

Development of a cutting-edge AI-driven medical device for enhanced diagnostic accuracy

$ 900,000

Market validation for innovative eco-friendly packaging solutions targeting retail businesses

$ 1,100,000

Significant improvement of existing recycling processes to increase efficiency and output

$ 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

Eligibility criteria of the Impulsion SME program

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.

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

Eligibility criteria of the Impulsion SME program

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).

How to apply to the Impulsion SME program

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.

Submission of the application

Submit all requests and documents required by the referring entity to Investissement Québec.

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.

Possibility of reinvestment

If the company has already benefited from the Program, it may submit a new application for potential reinvestment.

Additional information

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.