Momentum Fund
QC, Canada
The Momentum Fund provides up to $20,000 in funding to local businesses for growth projects spanning innovation, digital transformation, and energy efficiency.
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- grant_single|timelineUnspecified
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Grant and Funding
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- Desjardins
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grant_card_status|open
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The Momentum Fund aims to support local businesses by funding projects that stimulate innovation, accelerate digital transformation, or invest in energy-efficient equipment, covering 25% of project costs up to $20,000. Eligible activities include technological advancements, business succession plans, market development, human resources initiatives, sustainable development efforts, digital transformation projects, business model optimization, cybersecurity measures, and governance improvements.
grant_single_labels|projects
While the grant application does not specify eligible geographical areas, it is implied that businesses should contact their local Desjardins Business centre, suggesting a regional focus. Therefore, companies should reach out to the specific business centres for more detailed eligibility regarding location.
- The local region served by a Desjardins Business centre.
grant_single|admissibleProjectsExample
$11,000
Launching a new eco-friendly product line by investing in sustainable raw materials and processes
$7,000
Upgrading IT infrastructure to enhance cybersecurity and protect client data
$7,500
Implementing an AI-based customer service chatbot to improve response time and customer satisfaction
$9,000
Training employees in advanced manufacturing techniques to improve production efficiency
$9,500
Developing a custom ERP system to streamline business operations and improve efficiency
$8,000
Developing a comprehensive digital marketing strategy to expand market reach and increase sales
grant_single_labels|admissibility
Eligibility for this grant is determined by the alignment of the project with one of the specified categories outlined by the Momentum Fund.
- The project must fall under one of the nine specified categories: Innovation, Business Succession, Market and Supplier Development, Human Resources, Sustainable Development, Digital Transformation, Business Model Optimization, Cybersecurity, or Governance.
- The project must aim to generate business growth and potentially create quality jobs.
- Projects can receive coverage for 25% of the costs, up to a maximum of $20,000.
- Applicants should ideally be local businesses focused on stimulating innovation, accelerating digital transformation, or investing in energy-efficient equipment.
grant_eligibility_criteria|who_can_apply
The Momentum Fund is open to local businesses aiming to fund projects that generate business growth, create quality jobs, and contribute to regional economic development. The fund supports projects across various categories, including innovation, business succession, market and supplier development, human resources, sustainable development, digital transformation, business model optimization, cybersecurity, and governance.
grant_eligibility_criteria|eligible_expenses
The Momentum Fund encourages business growth through various projects that enhance innovation, digitalization, sustainable practices, and more. Eligible activities aim to support businesses in creating jobs and contributing to economic development.
- Innovative technological advancements or manufacturing processes.
- Progressive takeover plans for business succession.
- Market and supplier development strategies to increase sales.
- Creation of innovative human resources programs.
- Initiatives promoting sustainable development and reducing carbon footprint.
- Projects designed to accelerate digital transformation.
- Optimization or change of business models.
- Cybersecurity enhancement plans.
- Governance improvement initiatives and advisory committee creation.
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The grant covers specific expenses directly related to the implementation and success of the project.
- Consulting fees for expert support in business succession and transfer processes.
- Costs associated with innovation in manufacturing processes or product development.
- Expenses related to digital transformation, such as purchasing or simplifying IT solutions.
- Investments in energy-efficient equipment or sustainable development initiatives.
- Expenses for designing or implementing cybersecurity measures and education.
- Costs for developing or improving governance frameworks, including strategic planning.
- Acquisition costs for new equipment or real estate to optimize the business model.
- Expenses for workforce training, mental health support, and integration of temporary foreign workers for human resource development.
grant_single_labels|register
Here are the steps to submit an application for the Momentum Fund:
- Step 1: Confirm Eligibility
- Ensure your project falls under one of the predefined categories such as Innovation, Business succession, Market and supplier development, etc.
- Confirm your ability to finance 75% of the project as the grant covers 25% up to $20,000.
- Step 2: Develop Project Proposal
- Prepare a detailed project proposal outlining the project objectives, expected outcomes, and anticipated impact on business growth and regional economic development.
- Include necessary documentation describing how the project aligns with one of the fund’s categories.
- Step 3: Contact Desjardins Business Centre
- Reach out to your account manager or the nearest Desjardins Business centre for guidance on the application process.
- Seek advice on the preparation and tailoring of your application to meet the fund's requirements.
- Step 4: Submit Application
- Submit your project proposal to the contact at the Desjardins Business Centre as instructed by your account manager.
- Ensure all components of your application are complete and submitted as per guidelines.
- Step 5: Await Response
- Wait for confirmation from the Momentum Fund on the receipt and evaluation of your application.
- Keep communications open in case additional information is requested during the review process.
grant_single_labels|otherInfo
The Momentum Fund offers specific project categories where businesses can receive funding to grow and innovate. Here are some additional miscellaneous details about the fund:
- 25% of project costs covered.
- Up to $20,000 in funding per project.
- Projects must fall under one of the nine categories: Innovation, Business Succession, Market and Supplier Development, Human Resources, Sustainable Development, Digital Transformation, Business Model Optimization, Cybersecurity, and Governance.
- Support and advisory services provided through value-added partners like RCEI, Inno-centre, and TELUS Health.
- To apply, businesses need to contact their Desjardins Business centre or account manager.
Apply to this program
Propelling Your Business Growth with Momentum Fund
The Momentum Fund offers financial backing for local businesses to undertake projects that facilitate growth, innovation, and sustainability. With the ability to cover 25% of project costs up to $20,000, it empowers enterprises to forge ahead in competitive markets while also fostering regional economic development through job creation and strategic transformation.
Navigating Momentum Fund Opportunities for Business Expansion
For businesses aiming to thrive in today’s dynamic economic landscape, the Momentum Fund represents a critical opportunity to access funding designed to energize growth-oriented projects. With this fund, businesses can focus on pivotal areas such as innovation, digital transformation, and human resources, thereby accelerating their journey towards sustainable success. Whether your business is aiming to implement cutting-edge technology, streamline operations, or boost your market presence, the Momentum Fund provides a financial cushion to ease the execution of these strategic goals.
Innovation remains at the forefront of the Momentum Fund’s strategic objectives. Eligible projects must demonstrate a clear advancement in technology or introduce processes that promote continual innovation within a business. By doing so, organizations not only set a precedent for future growth but also contribute to a broader economic ecosystem that values ingenuity and advancement.
Digital transformation, another critical pillar, seeks to empower businesses by enhancing their technological footprint. Whether it's integrating new enterprise resource planning systems or deploying efficient customer relationship management tools, the fund allows companies to streamline their IT infrastructure, thus ensuring they remain competitive in a digital-first market. By supporting such transformations, businesses can open up new distribution channels, enhance online security, or integrate novel digital processes that serve to secure long-term viability.
Sustainability and social responsibility are deeply embedded in Momentum Fund’s criteria, encouraging businesses to adopt eco-friendly and equitable practices. Successful applicants often demonstrate a commitment to reducing their carbon footprint, enhancing energy efficiency, or engaging in projects that fortify environmental stewardship and community welfare. These efforts not only align with the global shift towards sustainability but also enhance the business’s reputation among environmentally conscious consumers.
Furthermore, the Momentum Fund recognizes the importance of nurturing human capital within businesses. From equity, diversity, and inclusion initiatives to innovative talent recruitment and retention strategies, businesses are encouraged to cultivate an inviting and dynamic workplace culture. By investing in human resources, businesses strengthen their foundational abilities to innovate, adapt, and grow amidst a rapidly changing market landscape.
To truly capitalize on the Momentum Fund’s potential, businesses must possess a clear, well-planned project roadmap that aligns with the fund’s strategic goals. This includes setting realistic milestones, clearly articulating anticipated outcomes, and showcasing a plan for resource management and execution excellence. Businesses that excel in these areas not only increase their chances of securing funding but also set themselves on a path toward sustained growth and development.
Ultimately, the Momentum Fund serves as an instrumental tool for businesses eager to navigate the complexities of growth and transformation. By offering targeted financial support and encouraging initiatives that drive innovation, sustainability, and economic vitality, the Momentum Fund not only enhances individual business capabilities but also contributes to a thriving and resilient economy.
