PME MTL — Social Initiatives
At a glance
- From $5,000 to $50,000
- Open Date : November 14, 2019
Overview
Obtain up to $50,000 in grants and resources to support projects aimed at exploring new sectors, new ways of doing things or developing new expertise.
Financing terms and conditions
This grant provides financial assistance to support eligible social economy enterprises and non-profit organizations in Montreal through flexible subsidy allocations.
- Subsidy amounts range from $5,000 to $50,000 depending on the enterprise or organization's needs.
- Funds can be used for acquisition of technology, software, patents, and other eligible capital expenses.
- Support includes working capital and coverage of professional fees related to the project.
- Funding decisions are made by a joint investment committee that evaluates qualifications and project viability.
Activities funded
This grant supports social economy initiatives within Montréal that encompass a range of project activities. These activities focus on technological acquisitions, professional services, and capital investments essential for fostering social innovation and development.
- Acquisition of technology, software, or patents to enhance project capabilities.
- Establishment of a working capital fund to support operational needs.
- Engagement of professional services to augment project implementation.
- Investment in capital expenses, including land, buildings, and equipment.
Eligibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and project scope.
- The applicant must be a social economy enterprise or a non-profit organization (NPO) with a social economy project.
- The organization must be headquartered in Montréal.
- The organization should demonstrate a formal entrepreneurial approach.
- Self-generated revenue from the sale of goods or services must represent 20% of the organization's annual revenue.
- The applicant must show the ability to create or maintain jobs.
- The organization must invest at least 20% of the total project cost.
Who is eligible?
To be eligible for a subsidy from the Fonds de développement de l'économie sociale, applicants must be a social economy enterprise or a non-profit organization (NPO) with a social economy project, headquartered in Montréal. They must take a formal entrepreneurial approach, generate at least 20% of their annual revenue from the sale of goods or services, demonstrate the ability to create or maintain jobs, and invest at least 20% of the total project cost.Eligible expenses
The fund is designed to support social economy projects that are both innovative and entrepreneurial, exploring new areas and fostering growth within the sector. Eligible activities include those that contribute to the development of the organization through technological enhancements, capacity building, and strategic investments.
- Acquisition of technology, software, and patents to enhance operational efficiency.
- Securing working capital to support day-to-day operations and project execution.
- Covering professional fees for legal, financial, or consultancy services necessary for project development.
- Investment in capital expenses like land, buildings, and equipment essential for scaling operations.
Eligible geographic areas
This grant is specifically available for businesses headquartered within Montréal. This focus ensures the funds support local social economy initiatives and contribute to the regional development of Montréal.
- Companies headquartered in Montréal.
Selection criteria
The FDÉS evaluates applications based on specific criteria to determine eligibility and project viability:
- Social economy enterprise or NPO status
- Headquartered in Montréal
- Entrepreneurial approach
- 20% self-generated revenue requirement
- Job creation or maintenance capacity
- Minimum 20% project cost investment
- Evaluation by the joint investment committee (CIC)
How to apply
Identify your service center
- Enter your business's postal code or select your service area on the map provided by the organization.
- Consult the experts in your region for personalized advice.
Preparation of the request
- Write a detailed description of the social economy project, including the objectives, innovations, and targeted sectors of activity.
- Prepare the project budget, specifying the self-financed sources and the capital investment.
- Document the company's capacity to create or maintain jobs.
- Gather relevant supporting documents, such as financial statements and the organization's bylaws.
Submission of the request
- Contact the assigned service department to obtain the specific application form.
- Fill out the form accurately and attach all required supporting documents.
- Submit the application to the common investment committee (CIC) for evaluation.
Follow-up of the request
- Receive confirmation of receipt of the request from the organization.
- Maintain contact with the service center for any additional information requests.
Additional information
Here are additional relevant details for this grant:
- The evaluation process involves the joint investment committee (CIC) of the relevant hub.
- Recipients are expected to invest at least 20% of the total project cost from their own funds.