Impulsion SME

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.

• 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

• 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).

• 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.