PME MTL – Subsidies to support social economy initiatives
Montréal, QC, Canada
Money for social economy projects in Montreal, Quebec
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- grant_single|openingDateJune 17, 2020
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Grant and Funding
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- grant_single|allIndustries
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- PME MTL
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Get a non repayable contribution of up to $50,000 to cover up to 80% of the costs of undertaking an innovative social economy project from planning stage to growth.
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This grant is available exclusively to companies that are headquartered in Montréal. Eligibility is restricted to ensure the development and growth of local social economy enterprises.
- Companies headquartered in Montréal.
grant_single|admissibleProjectsExample
$40,000
Launch a community co-working space
$40,000
Create a job training program for disadvantaged youth
$40,000
Establish a recycling initiative for e-waste
$40,000
Develop a skill-building workshop series for single mothers
$40,000
Develop a mobile app to connect community gardeners
$40,000
Establish a local food co-op marketplace
grant_single_labels|admissibility
Eligibility for funding from the Fonds de développement de l’économie sociale requires meeting specific organizational and project-based criteria.
- 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 applicant must take a formal entrepreneurial approach.
- The organization must have self-generated revenue from the sale of goods or services representing 20% of its annual revenue.
- The applicant must demonstrate the ability to create or maintain jobs.
- The organization must invest at least 20% of the total project cost.
grant_eligibility_criteria|who_can_apply
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 with a social economy project, headquartered in Montréal. They need to take a formal entrepreneurial approach, have self-generated revenue from the sale of goods or services representing 20% of their annual revenue, demonstrate their ability to create or maintain jobs, and invest at least 20% of the total project cost.
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for this grant. To be eligible for the subsidy from the Fonds de développement de l'économie sociale, companies must meet the following criteria:
- Social economy enterprises or non-profit organizations (NPOs) with a social economy project
- Headquartered in Montréal
- Take a formal entrepreneurial approach
- Have self-generated revenue representing 20% of annual revenue
- Show ability to create or maintain jobs
- Invest at least 20% of the total project cost
grant_eligibility_criteria|eligible_expenses
This grant supports social economy initiatives focused on fostering innovative approaches, developing new expertise, and ensuring job creation or maintenance in Montreal. The projects aim to enhance technological capacity and support the strategic growth of the enterprise or organization.
- Acquisition of technology, software, patents, etc.
- Funding for working capital to support ongoing operations.
- Professional services to aid in the development and implementation of projects.
- Capital expenses related to land, building, equipment, and incorporation costs.
grant_eligibility_criteria|zone
The grant covers specific expenses aimed at supporting the development and growth of social economy projects.
- Acquisition of technology, software, patents, etc.
- Working capital fund
- Professional fees
- Capital expenses (land, building, equipment, incorporation expenses, etc.)
grant_single_labels|criteria
The applications for subsidies from the Fonds de développement de l'économie sociale are evaluated based on specific criteria to ensure alignment with the fund's objectives and requirements:
- Be a social economy enterprise or non-profit organization with a social economy project
- Headquartered in Montréal
- Take a formal entrepreneurial approach
- Demonstrate self-generated revenue representing 20% of annual revenue
- Show ability to create or maintain jobs
- Invest at least 20% of the total project cost
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Preliminary Research
- Understand the objectives and requirements of FDÉS funding.
- Ensure your organization and project meet the eligibility criteria.
- Step 2: Prepare Application
- Prepare a detailed project proposal outlining objectives, innovative aspects, and economic impact.
- Gather necessary financial documents, including proof of self-generated revenue.
- Include plans for job creation or maintenance.
- Prepare a budget showing at least 20% self-investment into the project.
- Step 3: Complete Application Form
- Fill out the official FDÉS application form, ensuring all sections are thoroughly completed.
- Attach all supporting documentation as specified in the application guidelines.
- Step 4: Submission Process
- Submit your completed application form and all supporting documents to the joint investment committee (CIC) of the relevant hub in Montréal.
- Ensure submission is done before the designated deadline.
- Step 5: Confirmation and Follow-up
- Receive confirmation of application submission from the CIC.
- Keep in contact for any required follow-up or additional documentation.
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Here are additional relevant details for this grant:
- The funds are specifically focused on supporting innovative projects that chart new territories or create new expertise within the social economy sector.
- A joint investment committee (CIC) is responsible for reviewing applications, emphasizing the project's alignment with the fund's objectives.
- The evaluation process includes an assessment of the entrepreneur’s qualifications and the proposal's sustainability.
- Enterprises should aim to ensure the long-term viability of their projects to align with the fund's goals.
Apply to this program
Empower Your Social Economy Project in Montréal
The Fonds de développement de l'économie sociale (FDÉS) provides crucial financial support to social economy enterprises and non-profit organizations aiming to foster innovation and entrepreneurship within Montréal. This grant seeks to fund projects that not only thrive commercially but also contribute positively to the community through job creation and economic growth.
Understanding the Fonds de développement de l'économie sociale Grant
In an effort to bolster the social economy landscape within Montréal, the Fonds de développement de l'économie sociale (FDÉS) offers a financial lifeline to entities engaged in social enterprise endeavors. This fund is committed to supporting projects from their nascent stages through to maturity, embodying a concerted focus on projects that inject innovation and social value across diverse sectors. The vision is to redefine economic possibilities by nurturing initiatives that combine entrepreneurial acumen with a social mission.
Eligible recipients include social economy enterprises or non-profit organizations headquartered in Montréal, with a robust entrepreneurial approach and a business model focused on sustainability and impact. The FDÉS grants are substantial, ranging from $5,000 to $50,000, designed to cover a broad spectrum of essential project expenses. Whether it's investing in technology, expanding working capital, or covering professional and capital expenses, the fund is structured to address critical financial needs that facilitate project development and execution.
A distinctive feature of FDÉS is its inclusive approach to financial aid, which demands a reciprocal investment of at least 20% from the enterprises themselves. This requirement not only better positions these organizations financially but also demonstrates the viability and commitment towards the projects in question. This dual structure of funding ensures that resources are allocated to initiatives with firmly rooted potential for creating sustainable economic opportunities and employment.
Critically, applicants are thoroughly assessed by the hub's Joint Investment Committee (CIC), which examines both the qualifications of the entrepreneurs and the practicality of the proposal. This rigorous scrutiny ensures alignment with the fund's objectives, thereby safeguarding the investment and enhancing the probability of achieving tangible economic and social results in the Montréal region.
The potential impact of projects financed by the FDÉS extends beyond just financial growth. It promotes the cultivation of new skills and expertise within the community, nurturing innovative methods that provide long-term benefits to society. The emphasis on entrepreneurship and self-sustaining business models cultivates an ecosystem where innovative solutions thrive, paving the way for groundbreaking social economy pursuits that could redefine industry standards.
Ultimately, the FDÉS aims to empower those looking to make a meaningful difference through entrepreneurial ventures that address societal challenges. By participating in this grant, organizations can bridge pivotal financial gaps, ultimately facilitating their contribution to a resilient economy and a vibrant community. Through strategic investment, this initiative not only aids in sustaining present-day projects but also sets a robust framework for future social and economic advancements.
This grant represents a transformative opportunity for Montréal's social enterprises and non-profits to amplify their social and economic impact, showcasing the city's commitment to innovation, community development, and inclusive growth.
