PME MTL — Industrial and sustainable development investment fund
At a glance
- Max. $50,000
- 80% of project cost
- Open Date : April 12, 2021
- All industries
- PME MTL
Overview
Eligibility criteria
Eligibility criteria for the Innovation, Productivity, and Sustainable Development Fund:
- Canadian citizenship, permanent resident status, or Quebec selection certificate
- Legal incorporation and registration in the Registraire des entreprises du Québec (REQ)
- Montréal-based address with a head office in the province of Quebec
- Presentation of a business plan or executive summary
- Financial forecasts covering at least two full financial years
- Compilation of financial statements for the last two completed financial years
- Minimum down payment of 20% of the total cost for a pre-startup business or at least 15% for a start-up/growing business when applying for a loan or 20% for a subsidy
Who is eligible
There are eligible types of companies for this grant. Eligible businesses must meet certain conditions such as being legally incorporated, having a Montréal-based address, and presenting a business plan.
- Legally incorporated and registered in Quebec
- Have a Montréal-based address and head office in Quebec
- Present a business plan or executive summary
Eligible expenses
Eligible expenses for the grant include costs directly related to the business project. These may cover items such as testing innovations, marketing launches, improving productivity through technology, adopting clean technologies, and implementing sustainable development practices.
- Testing and trying out an innovation in a real-world context.
- Validating the markets targeted during the development of the innovation.
- Marketing launch.
- Generating the first sales of the innovation.
- Improving productivity, especially through technological equipment and automation.
- Adopting clean technologies.
- Implementing sustainable development practices, particularly focusing on circular economy models.
Eligible projects & activities
The subsidy from the Innovation, Productivity, and Sustainable Development Fund can be used for various projects including testing innovations, validating target markets, marketing launches, improving productivity, adopting clean technologies, and implementing sustainable development practices.
- Testing and trying out an innovation in a real-world context.
- Validating the markets targeted during the development of the innovation.
- Marketing launch.
- Generating the first sales of the innovation.
- Improving productivity, especially through technological equipment installation, robotization, or automation.
- Adopting clean technologies.
- Implementing sustainable development practices, particularly focusing on circular economy business models.
Eligible geographic areas
There are specific geographic areas mentioned for this grant.
- Montréal region
Evaluation & selection criteria
Each application is reviewed by the Comité d’investissement commun (CIC) of the area concerned, which will determine whether the entrepreneur and the project meet the objectives and requirements of the Fund's policy.
- Business or project alignment with Fund's policy objectives and requirements
- Entrepreneur's qualifications and management capacity
- Feasibility and impact of the proposed project
- Relevance of the project to fostering innovation, productivity, and sustainable development
How to apply
- Step 1: Ensure eligibility criteria are met
- Have Canadian citizenship, be a permanent resident, or hold a Quebec selection certificate.
- Be legally incorporated and registered in the Registraire des entreprises du Québec (REQ).
- Have a Montréal-based address and head office in Quebec.
- Provide a business plan, financial forecasts, and financial statements.
- Step 2: Prepare required documents
- Compile financial data and business information as specified in the eligibility conditions.
- Step 3: Submit the application
- Complete the application form with all necessary details and documentation.
- Submit the application to the Comité d’investissement commun (CIC) for review.
Grant Summary:
This grant from PME MTL offers a subsidy of up to $50,000 to finance innovative projects focusing on innovation, productivity, and sustainable development in Montreal. The funding can cover expenses related to testing innovations, market validation, marketing launches, productivity improvements, clean technology adoption, and sustainable development practices.
Grant Details:
PME MTL provides financial assistance through a fund aimed at fostering innovation, productivity, and sustainable development in the Montreal region. Eligible businesses must have Canadian citizenship or residency, be legally incorporated in Quebec, present a business plan, financial forecasts, and financial statements, among other requirements. The subsidy, with a maximum of $50,000, can cover up to 80% of the total project cost, supporting initiatives such as market testing, product launches, productivity enhancements, and sustainability practices adoption. Eligible expenses include those directly related to the business project. Applications are reviewed by the Comité d’investissement commun to ensure alignment with the fund's objectives. Funding availability is limited, and eligibility is subject to fund availability. To benefit from these services, entrepreneurs should connect with experts in their area through PME MTL according to their business location.