How much funding can be received?

Get a loan of up to $150,000 for your commercialization project, particularly those in the fields of transport and mobility, arts and culture, digital technology, clean technologies, and life sciences & health care technologies.

grant_single_labels|terms_and_conditions

This grant provides financial support specifically for innovative projects, ensuring that businesses have the necessary resources to develop impactful solutions in Montreal. The financing modalities are structured to maximize the potential of innovative projects while promoting sustainable growth.

A loan of up to $150,000 is available, which may not exceed 80% of the total cost of the business project.
The loan can be combined with the Fonds PME MTL, allowing a cumulative maximum financing amount of up to $450,000.
Eligible uses of the loan include testing and trials of innovations in a real context, market validation and launch, and intellectual property protection.
Support is also available for efforts related to market development or exporting innovations.

grant_single_labels|projects

The Innovation Investment Fund by PME MTL provides financial assistance to support innovative projects that contribute to the development of the Montreal area. Eligible projects focus on testing, market validation, launching, generating sales, and protecting innovations through intellectual property.

Testing and trial of innovations in real-world contexts.
Validation of target markets during the innovation development phase.
Market launch of innovations.
Generating the first sales of the innovation.
Protecting an innovation through intellectual property rights.
Supporting efforts to develop new markets or export innovations.

grant_single|admissibleProjectsExample

$ 150,000

Launching a digital platform for remote healthcare consultations

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the business or its promoters.

The business or its promoters must have Canadian citizenship, be a permanent resident, or hold a Quebec selection certificate (CSQ).
The business must be legally incorporated and registered in the Registraire des entreprises du Québec (REQ).
The business must have a Montréal-based address and have a head office in the province of Quebec.
A business plan or executive summary must be presented.
Financial forecasts covering at least two full financial years must be presented.
A compilation of financial statements for the last two completed financial years (or the first financial year for companies less than two years old) must be provided.
A minimum down payment of 20% of the total cost is needed for a pre-startup business, and at least 15% of the total project cost for a start-up or growing business for a loan and 20% when applying for a subsidy.

grant_eligibility_criteria|who_can_apply

The Fonds d'Investissement innovation is targeted at businesses or entrepreneurs meeting specific eligibility criteria, primarily within the Montreal area.

This fund is aimed at encouraging innovative projects with significant impact in Montreal by providing financial assistance to eligible businesses.

Business must be legally incorporated and registered in Quebec.
Business must have a physical address in Montreal and head office within Quebec.
Applicants must be Canadian citizens, permanent residents, or hold a Quebec selection certificate (CSQ).
Project proposals must include a comprehensive business plan and financial forecasts for at least two years.
Businesses must present financial statements for the past two years or one year if newly established.
Entrepreneurs need to provide a minimum down payment, varying by business status (pre-startup, startup, or growing).

grant_eligibility_criteria|who_cannot_apply

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

grant_eligibility_criteria|eligible_expenses

The grant covers expenses that are exclusively related to the business project.

Expenses for testing and trial of innovations in a real context.
Costs associated with the validation of target markets during the development of the innovation.
Expenses related to the market launch of the innovation.
Costs for generating the first sales of the innovation.
Expenses incurred in protecting an innovation through intellectual property rights.
Costs for supporting efforts to develop new markets or export the innovation.

grant_eligibility_criteria|zone

This grant supports companies located in designated areas within Montreal to promote regional innovation and economic development. Eligible companies must have operations based in and a legal address within the city of Montreal and a head office in the province of Quebec.

Companies based in the city of Montreal.
Businesses with a head office located in the province of Quebec.

grant_single_labels|criteria

The evaluation and selection of projects for this grant are based on specific criteria with allocated point scores to ensure alignment with the fund’s objectives.

Innovative nature and potential for real-world application impact.
Validation and market potential of the innovation.
Strategy and readiness for market launch and initial sales generation.
Comprehensiveness of intellectual property protection strategy.
Plans for market expansion and export strategies.

grant_single_labels|register

Here are the steps to submit an application for this grant:

Step 1: Verify Eligibility
Ensure the business or promoters have Canadian citizenship, permanent residency, or a Quebec selection certificate (CSQ).
Confirm the business is legally incorporated and registered in the Registraire des entreprises du Québec (REQ).
Check that the business has a Montréal-based address and its head office is in the province of Quebec.
Prepare a business plan or executive summary.
Prepare financial forecasts covering at least two full financial years.
Compile financial statements for the last two completed financial years (or for the first year for companies less than two years old).
Ensure you can provide the minimum required down payment for the applicable business phase.
Step 2: Contact Service Center
Reach out to your designated service center for more details about the Fonds Commercialisation des innovations and the application process.
Step 3: Gather Required Documents
Assemble all required documents and information, including business plans, financial statements, and forecasts.
Ensure all documentation is complete and up-to-date to support your application.
Step 4: Submit Application
Prepare your application package, ensuring it addresses all criteria and includes all necessary documentation.
Submit your application to the Joint Investment Committee (JIC) via the method prescribed by the service center.
Step 5: Await Review and Decision
The Joint Investment Committee (JIC) will review your application based on their qualification and policy objectives.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The loan from Fonds d'Investissement innovation can be combined with Fonds PME MTL, allowing for a maximum combined total of $450,000.
Applicants need to present financial statements for the last two completed years, or for the first year if the company is less than two years old.
A minimum down payment is required: 20% for pre-startup businesses and 15% for startup or growing businesses for a loan, and 20% for a subsidy.