PME MTL – Young Business
Montréal, QC, Canada
Subsidy for young businesses in Montreal
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
- grant_single|closingDateMay 03, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- PME MTL
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Get up to $15,000 to help with your start-up and growth.
grant_single_labels|projects
This grant is available for businesses located within a specific geographical area in Montréal. Only those with their head office on Montréal Island are eligible.
- Businesses must have their head office in Montréal.
- Eligible companies must be located on Montréal Island.
grant_single|admissibleProjectsExample
$15,000
Purchase of advanced coffee roasting equipment to expand local cafe services
$14,000
Renovation of community theater for hosting cultural events
$15,000
Renovate an existing warehouse to create a co-working space
$15,000
Purchase eco-friendly equipment for a new community garden
grant_single_labels|admissibility
Eligibility for the Fonds Jeunes Entreprises grant is based on specific requirements that focus on the status and location of the business, as well as the commitment of the entrepreneur.
- Launch a legally constituted business listed in the Registre d’entreprises du Québec (REQ).
- Have your business and head office located on Montréal Island.
- Operate a company that has been in existence for less than five years.
- Submit a business plan demonstrating profitability and viability.
- Commit to working full-time in the business (at least 35 hours per week).
grant_eligibility_criteria|who_can_apply
Eligible applicants include start-up businesses that are legally constituted and listed in the Registre d’entreprises du Québec (REQ), with their headquarters located on Montréal Island, and have been operational for less than five years. Additionally, applicants are required to commit to working full-time in the business and must combine the subsidy with a loan from Fonds PME MTL.
grant_eligibility_criteria|who_cannot_apply
- Businesses not in Montreal
- Unregistered businesses
- Operations over 5 years old
- Part-time engagement in business
grant_eligibility_criteria|eligible_expenses
Eligible projects for this grant focus on supporting the essential operational and growth needs of young businesses. The financial assistance is designed to aid in critical startup expenses.
- Purchasing equipment necessary for business operations.
- Making leasehold improvements to business premises.
- Executing marketing strategies to promote the business.
- Building a working capital fund to support day-to-day expenses.
grant_eligibility_criteria|zone
The subsidy covers essential expenses that facilitate the establishment and growth of eligible businesses.
- Equipment purchases
- Leasehold improvements
- Marketing expenses
- Working capital fund
grant_single_labels|criteria
The evaluation and selection of projects for this grant under the Fonds Jeunes Entreprises are influenced by the entrepreneur’s qualifications and the proposal's viability in line with the fund’s objectives and requirements.
- Entrepreneur’s qualifications and experience related to managing and growing a business.
- Viability and profitability of the business plan submitted.
- Alignment with the strategic objectives of the Fonds Jeunes Entreprises and PME MTL.
- Projected impact on the Montréal economic ecosystem.
- Effective use of the proposed non-repayable financial contribution.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Verify Eligibility
- Ensure your business is a legally constituted entity under REQ.
- Confirm your business is based in Montréal and is less than five years old.
- Step 2: Prepare Business Plan
- Draft a comprehensive business plan demonstrating profitability and viability.
- Include financial projections and a detailed market analysis.
- Step 3: Full-time Commitment
- Prepare a declaration committing to full-time work in the business (minimum 35 hours per week).
- Step 4: Combine with Loan
- Secure a loan from Fonds PME MTL to combine with the subsidy.
- Step 5: Compile Application Documents
- Gather all necessary documents including a business plan, financial documents, and proof of PME MTL loan approval.
- Step 6: Submit Application
- Submit your application and supporting documents to the joint investment committee (CIC) of the relevant hub.
- Step 7: Await Assessment
- The CIC will review the application to assess eligibility and viability in line with the fund’s objectives.
grant_single_labels|otherInfo
The grant offers substantial financial support for start-ups, particularly targeting new businesses on Montréal Island. It emphasizes the importance of having a viable business plan and a commitment to full-time work in the business.
- The subsidy must be combined with a loan from the Fonds PME MTL.
- Eligible businesses must be listed in the Registre d’entreprises du Québec (REQ).
- Financial assistance is in the form of a non-repayable contribution of up to $15,000.
- Examples of eligible expenses include equipment purchases, leasehold improvements, marketing expenses, and working capital fund.
- All applications are reviewed by the joint investment committee (CIC) of the respective hub to ensure they meet the fund's requirements and objectives.
grant_single_labels|contact
info@pmemtl.com
Apply to this program
Support for Young Entrepreneurs on Montréal Island
The Fonds Jeunes Entreprises offers vital financial aid to burgeoning businesses in Montréal, supporting entrepreneurs with non-repayable contributions to foster business inception and growth. This initiative is strategically designed to invigorate the local economic landscape by aiding startups less than five years old in their journey to becoming self-sustaining enterprises.
Detailed Overview of the Fonds Jeunes Entreprises Grant Program
The Fonds Jeunes Entreprises grant is a strategic initiative aimed at nurturing young businesses situated on Montréal Island. It provides critical financial resources to start-ups poised for sustained success, countering the economic pressures of early-stage business development. By providing up to $15,000 in non-repayable financial contributions, this grant plays a pivotal role in enabling young entrepreneurs to make significant capital investments in essential areas like equipment purchases, leasehold improvements, and marketing efforts.The integration of this funding with a loan from the Fonds PME MTL further amplifies the financial base available to aspiring entrepreneurs. Together, these financial instruments create a robust support network, allowing businesses to stabilize during the crucial initial years of operation while focusing on strategic growth and development.Each application to the grant program undergoes rigorous scrutiny by the joint investment committee (CIC) of the pertinent hub. This comprehensive evaluation ensures that the proposed business plans are not only economically viable but also aligned with the overarching objectives of the Fonds Jeunes Entreprises. Key considerations include the entrepreneur's readiness, the novelty and sustainability of the business model, and the anticipated socioeconomic impact within the local community.The grant thus operates at the confluence of innovation and economic development, promoting a business ecosystem conducive to growth and resilience. Entrepreneurs committed to dedicating full-time effort to their ventures are given priority, reflecting the program’s intention to support business leaders who are equipped to contribute to Montréal’s vibrant economic tapestry.Moreover, the grant encompasses a broad spectrum of potential uses, ensuring that businesses can allocate funds where needed most. Whether it involves fortifying operational capabilities or launching comprehensive marketing strategies to gain market traction, the grant allows for strategic flexibility. This adaptability is crucial for start-ups navigating the diverse challenges of a competitive business environment.In conjunction with financial backing, potential grant recipients can avail themselves of a wealth of resources and expertise, fostering a community of practice among new and established businesses alike. These resources include access to PME MTL’s array of services, which extend from personalized business coaching to networking opportunities with industry experts, thereby enhancing the overall developmental support structure available to these young enterprises.Ultimately, the Fonds Jeunes Entreprises Grant serves as a beacon for entrepreneurial spirit on Montréal Island, injecting vitality into the local economy by backing new ideas and innovations. It exemplifies a strategic commitment to nurturing sustainable growth, underscoring the essential role of targeted financial interventions in building a resilient economic future for the city of Montréal.
