PME MTL — Support for Innovations Marketing — Loans
At a glance
- Max. $150,000
- 80% of project cost
- Open Date : April 12, 2021
- All industries
- PME MTL
Overview
Eligibility criteria
Eligibility criteria for this grant:
- Canadian citizenship, permanent resident status, or Quebec selection certificate required
- Legal incorporation in Quebec with a Montreal-based address
- Presentation of business plan, financial forecasts, and financial statements
- Minimum down payment of 20% for pre-startup businesses, 15% for startups, and 20% for subsidies
Who is eligible
Eligible companies for this grant must be Canadian citizens, permanent residents, or holders of a Quebec selection certificate, legally incorporated and registered in Quebec, have a Montreal-based address, and present a business plan and financial forecasts.
- Canadian citizens, permanent residents, or holders of a Quebec selection certificate
- Legally incorporated and registered in Quebec
- Have a Montreal-based address
- Present a business plan and financial forecasts
Who is not eligible
There are certain types of companies that are not eligible for this grant:
- Companies without Canadian citizenship, permanent residency, or a Quebec selection certificate
- Companies not legally incorporated and registered in the Registraire des entreprises du Québec
- Companies without a Montréal-based address and a head office in the province of Quebec
Eligible expenses
Expenses related to the business project are eligible under this grant. These expenses must be directly linked to the development and implementation of the innovative project.
- Testing and trial of innovations in real context
- Validation of target markets when developing the innovation
- Market launch
- Generating the first sales of the innovation
- Protecting an innovation through intellectual property rights
- Supporting efforts to develop new markets or export an innovation
Eligible projects & activities
The Fonds d'Investissement innovation provides support for various eligible projects, including testing and trialing innovations, validating target markets, market launches, protecting intellectual property rights, and developing new markets or exporting innovations.
- Testing and trial of innovations in real context
- Validation of target markets when developing the innovation
- Market launch
- Generating the first sales of the innovation
- Protecting an innovation through intellectual property rights
- Supporting efforts to develop new markets or export an innovation
Eligible geographic areas
Certain geographical areas are eligible for this grant, depending on the location of the companies. The grant is designed to support innovative projects that have an impact on the Montreal area.
- Montréal
Evaluation & selection criteria
The Fonds Commercialisation des innovations has specific evaluation and selection criteria for applicants:
- Applicants must have Canadian citizenship, be a permanent resident, or hold a Quebec selection certificate.
- Businesses must be legally incorporated and registered in Quebec, with a Montréal-based address.
- Submission of a business plan, financial forecasts, and financial statements is required.
- Minimum down payment percentages vary based on the stage of the business project.
How to apply
- Step 1: Review eligibility criteria and ensure compliance
- Content: Check if you meet the criteria such as Canadian citizenship, legal incorporation, Montreal-based address, business plan submission, financial statements, and down payment.
- Implications: Understanding and meeting these criteria is crucial for your application to be considered.
- Step 2: Prepare required documentation
- Content: Gather necessary documents like business plan/executive summary, financial forecasts, financial statements, and proof of down payment.
- Implications: Having all required documents ready will streamline the application process.
- Step 3: Submit application to the service center
- Content: Send your completed application along with the supporting documents to the designated service center.
- Implications: Timely submission increases your chances of being considered for the grant.
Additional information
- It's important to note that the Fonds d'Investissement innovation loan is specifically designed to support innovative projects with an impact on the Montreal area.
- Eligible expenses are strictly linked to the business project, and each application is evaluated by the joint investment committee in accordance with the Fund's objectives and requirements.
Summary of the Fonds d'Investissement Innovation Grant
The Fonds d'Investissement Innovation grant offered by PME MTL aims to provide financial assistance of up to $150,000 to innovative projects in the Montreal area, supporting activities like market validation, innovation testing, and market launch. Eligible businesses must meet specific criteria to qualify for the grant.
Exploring the Fonds d'Investissement Innovation Grant
The Fonds d'Investissement Innovation grant, managed by PME MTL, is designed to support innovative projects within the Montreal region, offering a loan of up to $150,000 to eligible businesses. This financial assistance can cover costs related to market testing, market validation, product launch, and intellectual property protection for innovative ventures.
To be eligible for this grant, businesses or promoters must meet certain criteria, such as Canadian citizenship, legal incorporation in Quebec, and the presentation of a comprehensive business plan. The grant aims to foster innovation and economic growth by supporting entrepreneurs in bringing their innovative ideas to market.
Supported activities under the grant include testing and trial of innovations in real contexts, validating target markets during innovation development, and generating initial sales for new products or services. By providing funding for these crucial stages of innovation, the grant aims to facilitate the commercialization of innovative ideas, driving economic development in Montreal and beyond.
Applicants are required to submit financial forecasts, a compilation of financial statements, and demonstrate a minimum down payment for their projects. The evaluation process is carried out by the Joint Investment Committee, ensuring that the projects align with the fund's objectives and policies.
For businesses seeking to innovate and grow in Montreal, the Fonds d'Investissement Innovation grant offers a valuable opportunity to access financial support and expertise to bring their innovative ideas to fruition. By combining the grant with other funding options from PME MTL, businesses can maximize their resources and accelerate their growth within the thriving Montreal innovation ecosystem.