grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|fromMinToMax
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateMay 10, 2023
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Manufacturing
  • 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|projects

Eligible companies must be located in the province of Quebec to apply for the Impulsion PME grant. This requirement ensures that funding is allocated to businesses contributing to the economic development of this specific region.
  • Companies with their headquarters in Quebec.
  • Businesses with their decision-making center in Quebec.
  • Organizations maintaining the majority of their permanent employment in Quebec.
grant_single|admissibleProjectsExample

$1,200,000

Toronto
Expansion of a green energy solutions company focusing on solar panel installation and maintenance

$750,000

Vancouver
Launch of a personalized mentorship program for entrepreneurs in the tech industry

$1,500,000

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

$900,000

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

$1,100,000

Halifax
Significant improvement of existing recycling processes to increase efficiency and output

$850,000

Quebec City
Creation of a mobile application for local farm-to-table delivery services

grant_single_labels|admissibility

The eligibility criteria for this grant focus on the characteristics and aspirations of the applicant company.
  • The company must be a for-profit enterprise operating in any economic sector with headquarters, decision-making center, and permanent majority of jobs located in Quebec.
  • The company must not operate in the sectors of retail trade, accommodation and food services, personal services, laundry services, or traditional gambling and lottery.
  • The company should aim to accelerate growth and be preparing for a major first fundraising round.
  • The company must be innovative, aiming to develop a new product/procedure or significantly improve an existing one, offering distinct advantages and competitive edge.
  • The business model of the company should enable strong and rapid growth over one to three years.
  • The company must have at least two full-time paid employees.
  • The company should have at least one customer or a market validation agreement, except for the life sciences sector.
  • The company must be referred by a recognized entity.
  • The company must have a personalized support plan completed or validated and approved by their referring entity.
  • The company must present a letter of intent outlining key investment parameters from a recognized investor.
  • The company must plan for a major fundraising round within the next 24 months (or 48 months for the biopharmaceutical sector).
  • The company must not have completed a first commercialization cycle, with total revenues under $2,000,000 in the last three financial years.
  • The company must not have completed equity funding over $250,000 from venture capital, except for the life sciences sector.
  • The company must not have received an investment from the Programme in the past.

grant_eligibility_criteria|who_can_apply

The Impulsion PME program focuses on young, innovative companies with high growth potential that are seeking to complete their first major fundraising round.
  • Strategic positioning: Evaluation from having no competition identified to have an exhaustive analysis with clear differentiation.
  • Degree of product/service innovation: Rating from lack of intellectual property protection to having robust patents and market barriers.
  • Maturity of the product: Rated according to Technology Readiness Levels (TRL), assessing from prototype stages to commercialization readiness.
  • Addressable market potential: Measured by market analysis quality and potential revenue within North American and global markets.
  • Commercial strategy and client acquisition: Evaluating the quality and documentation of the commercial strategy, including client pipeline and regulatory strategies for life sciences.
  • Presence of a strategic investor: From no strategic investor to having an investor offering significant market access and growth benefits.
  • Significant partnerships: Analyzed based on licenses and agreements enhancing market access and control.
  • Management team experience: Evaluated based on industry and entrepreneurial experience, commercial expertise, and network value.
  • Business model: Assessment of value proposition clarity, aligned strategy, and business model validation.
  • Financial forecasts and risk: Completeness and realism of financial forecasts, investment terms, and exit strategy in relation to market standards.
  • Impacts on Québec: Assessed by job creation potential and the significance of government partnership in the financial strategy.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies from eligibility based on their legal status or main activity. The exclusions ensure that the program supports only those sectors that align with its investment strategies.
  • Non-profit organizations and cooperatives.
  • For-profit businesses in sectors such as retail, accommodation and food services, personal services and laundry, and traditional gambling and lottery services.

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

The eligible geographic zones for this grant are regions within Quebec, with specific distinctions for the Montreal metropolitan census area.
  • General Quebec
  • Montreal metropolitan census area

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 maximum investment from the Programme cannot exceed 50% of the total financial framework.
  • Minimum investment amount is $250,000, while maximum investment amounts vary by sector, with biopharmaceuticals having a cap of $2,000,000, and other sectors ranging from $750,000 to $1,000,000 depending on the location.
  • Companies must have accumulated total revenues below $2,000,000 over the last three fiscal years to be considered at the precommercialization stage.
  • Companies that have completed an equity fundraising exceeding $250,000 from venture capital funds are generally not eligible, except for those in the life sciences sector.
  • Applications must be submitted through a recognized referring entity, which plays a crucial role in selecting and submitting investment requests.
  • The program allows for reinvestment opportunities for companies that have already received an initial investment, subject to meeting specific criteria for new funding rounds.
  • The investment mechanism can involve equity or quasi-equity formats, such as convertible debentures or agreements for future equity.
  • Results from the selection committee are communicated to companies and their referring entities, with unsuccessful applicants having the opportunity to resubmit.
  • Ongoing application processing is conducted throughout the year.

grant_single_labels|documents

grant_single_labels|contact

1-844-474-6367

Apply to this program