MT Lab - Project Financing - Component 2
QC, Canada
The Project Funding Program offers financial support to innovative tourism initiatives, covering up to 75% of total project costs.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Accommodation and food services
grant_single|grantors
- MT Lab
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Project Funding Program aims to support innovative projects within Quebec's tourism industry by providing financial assistance of up to 75% of project costs, with a maximum of $90,000 for individual projects and $200,000 for collective projects. Eligible activities include the integration of new products, services, processes, or business models that provide economic, social, or environmental value.
grant_single_labels|projects
Yes, there are projects or activities eligible for this grant.
- Integration of new products, services, processes, or business models that provide economic, societal, or environmental value
- Enhancing existing products or services with new features or customization
- Adopting widely available market solutions that are new to the organization
- Projects accounting for sustainable and responsible tourism principles
grant_single|admissibleProjectsExample
$60,000
Montreal
Launching a digital concierge service for tourists visiting Montreal.
$33,750
Vancouver
Developing an eco-friendly tour package to promote sustainable tourism in Vancouver.
$67,500
Ottawa
Implementing a multilingual virtual tour service for cultural sites in Ottawa.
$60,000
Calgary
Launching a mobile app to promote local food experiences in Calgary.
$82,500
Toronto
Creating an interactive exhibition enhancing visitor engagement at the Toronto Science Centre.
$71,250
Quebec City
Development of a heritage trail app to increase tourism in Quebec City.
grant_single_labels|admissibility
The eligibility criteria for this grant require that the applicant be a Quebec-based tourism enterprise or organization. Additionally, the applying entity must meet several specific operational and administrative requirements.
- The applicant must be a Quebec-based enterprise or organization working in the tourism industry or an innovative tourism enterprise in Quebec.
- The applicant must be the beneficiary of the submitted project.
- The applicant must have been in operation for more than one year.
- The applicant must have a Quebec business registration number (NEQ).
- The applicant must have a website available in French.
grant_eligibility_criteria|who_can_apply
Yes, there are eligible types of companies for this grant. The eligible applicants must be companies or organizations within the Quebec tourism industry or innovative tourism companies in Quebec.
- Companies or organizations in the Quebec tourism industry
- Innovative tourism companies in Quebec
- Startups within the Quebec tourism industry
- Regional and sectoral tourism associations
grant_eligibility_criteria|who_cannot_apply
Yes, some types of companies are not eligible for this grant.
- State-owned corporations
- Ministries
- Organizations of the government of Quebec or Canada
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant are
- Integration of an innovative product, service, process or business model
- Novelty and/or customization of an existing product, service, process or business model
- Adoption of an innovative product, service, process or business model for the company
- Platform subscription expenses incurred within 9 months of official selection announcement
grant_eligibility_criteria|zone
The eligible geographic zones for this grant are limited to Quebec, Canada. The applicant must be a Quebec-based company or organization working in the tourism industry.
- Must be located in Quebec
- Must have a Quebec Business Number (NEQ)
grant_single_labels|criteria
Yes, there are evaluation and selection criteria for this grant. The criteria include responses to thematic priorities, the level of risk, the novelty of the project, potential benefits for the sector or region, and the aim to increase productivity.
- Response to thematic priorities:
- Improving productivity, competitiveness, or efficiency of tourism businesses
- Countering labor shortages
- Reducing the environmental footprint of tourist activities
- Digital transformation
- Addressing issues of responsible and sustainable tourism
- Level of risk the project entails for the organization
- Novelty of processes, products, or services introduced by the project
- Potential benefits for the activity sector or region
- Project aims to increase the productivity of the business
grant_single_labels|register
- Step 1: Download the Guide du demandeur and review all requirements and details.
- Step 2: Identify if your project is eligible based on the conditions listed (e.g., must be an enterprise or organization in the Québec tourism industry, in operation for more than a year, etc.).
- Step 3: Choose the relevant Volet (Accompagnement stratégique or Financement de projets) for your project.
- Step 4: Complete the corresponding application form for either Volet.
- Step 5: Prepare and attach required documents based on the Volet chosen:
- For Volet Accompagnement stratégique:
- Document de présentation (maximum 6 pages).
- Letter of commitment from management or the board.
- Declaration of no conflict of interest.
- For Volet Financement de projets:
- Document de présentation (maximum 9 pages).
- Letter of commitment from management or the board (and all parties in the case of a collective project).
- Declaration of no conflict of interest.
- Step 6: Submit the completed form and required documents before the deadlines specified (26 August 2024, 25 September 2024, or 23 November 2024).
- Step 7: Wait for the announcement of laureates, which will happen in November 2024, December 2024, and March 2025 depending on the submission date.
grant_single_labels|otherInfo
The grant offers significant financial support and encourages collaboration among Quebec's tourism industry players.
- Priority themes: improving productivity, combating labor shortages, reducing environmental impact, digital transformation, and responsible tourism.
- Financial limits: up to 75% project cost coverage.
- Eligibility excludes state corporations, ministries, and government organizations.
- Project timeline: must be completed within 9 months post-official announcement.
grant_single_labels|contact
clement@mtlab.ca
418.558.9568
Apply to this program
Project Financing Program 2024-25
The Project Financing Program 2024-25 supports innovative projects within Quebec's tourism industry by providing financial assistance for strategic consultancy and project financing. Eligible enterprises and organizations can receive up to 75% of project costs with specific funding caps for individual and collective projects.
Detailed Explanation of the Project Financing Program 2024-25
The Project Financing Program 2024-25 is a robust initiative designed to foster innovation and development within Quebec's tourism industry. Recognizing the key role that innovation plays in enhancing competitiveness and achieving sustainable growth, this program offers substantial financial support to projects that bring novel products, services, processes, or business models to the industry. Below is a comprehensive breakdown of the program, including eligibility criteria, types of projects supported, funding details, and application processes.
Program Overview
The Project Financing Program 2024-25 is divided into two main components:
- Strategic Consultancy Assistance: This component covers 75% of the fees for consultancy services on strategic project development, offering between $5,000 and $12,000 per project.
- Project Financing: This component also covers 75% of project costs with funding caps of $90,000 for individual projects and up to $200,000 for collective projects involving multiple tourism industry stakeholders.
Application Deadlines
Key dates to remember for the application process are as follows:
- June 25, 2024: Application period opens
- July 11, 2024: Virtual information session
- August 26, 2024: First application deadline
- September 25, 2024: Second application deadline
- November 23, 2024: Third application deadline
- November 2024: Announcement of winners for the first round
- December 2024: Announcement of winners for the second round
- March 2025: Announcement of winners for the third round
Eligibility Criteria
To be eligible for the Project Financing Program 2024-25, applicants must meet the following criteria:
- Be a Quebec-based enterprise or organization operating in the tourism industry.
- The applicant must be the beneficiary of the project.
- Operations must have been ongoing for at least one year.
- The applicant must have a Quebec business number (NEQ).
- A French-language website must be maintained by the applicant.
- The project must not duplicate previous projects funded by MT Lab programs.
- For strategic consultancy assistance, the balance of 25% (approximately $3,000) must be self-funded by the applicant.
- Projects should be completed within the stipulated timelines following the official announcement of the funding approval.
- Entities such as state corporations, government ministries, and federal or provincial agencies are excluded from applying.
Types of Projects Supported
The program is designed to support innovation in various aspects of an enterprise or organization's operations. Eligible projects include:
- Introduction of a new product, service, process, or business model that adds economic, societal, or environmental value.
- Enhancements to existing offerings that significantly improve their value for the enterprise or the market.
- Adoption of widely available technologies or models that are new to the applicant organization.
- Projects incorporating principles of sustainable and responsible tourism.
Selection Criteria
Applications will be assessed based on the following criteria:
- Alignment with priority themes such as productivity enhancement, competitiveness, labor shortage mitigation, environmental impact reduction, and digital transformation.
- Risk level associated with project implementation.
- The innovative nature of the proposed processes, products, or services.
- Potential economic and social impacts on the sector or region.
- Contribution to overall productivity within the enterprise.
How to Apply
Strategic Consultancy Assistance
- Complete the applicant form.
- Attach a presentation document (maximum six pages) detailing:
- Details of the enterprise or organization.
- The problem the project aims to address.
- Project description (if available).
- Project objectives.
- Innovation aspect of the project.
- Risk level for the applicant.
- Potential for industry-wide adoption.
- Project timeline.
- Details of the strategic consultancy provider.
- Quotes from the consultancy provider.
- Include a letter of commitment from the organization's leadership guaranteeing budget availability and responsible personnel.
- Submit a declaration of no conflict of interest, if applicable.
Project Financing
- Complete the applicant form.
- Attach a presentation document (maximum nine pages) covering:
- Details of the enterprise or organization (and partners in the case of a collective project).
- The problem the project aims to address.
- Project description and objectives.
- Innovation aspect of the project.
- Risk level for the applicant.
- Potential to increase productivity.
- Economic and social impacts on the industry or region.
- Project timeline with key milestones for mid-project and final payments.
- Quotes from service providers.
- Expected results and key performance indicators.
- Include a letter of commitment from the organization's leadership guaranteeing budget availability and responsible personnel. For collective projects, include a commitment letter from each stakeholder outlining their roles and responsibilities.
- Submit a declaration of no conflict of interest, if applicable.
Frequently Asked Questions
Are regional and sectoral tourism associations eligible?
Yes, regional and sectoral tourism associations in Quebec are eligible to apply.
Can startups apply for funding?
Startups can apply if they have been active for more than a year and aim to implement innovative projects within their organization. If a startup acts as a service provider, the application must be submitted by the beneficiary enterprise or organization.
Can subscription fees to a platform be covered for more than a year?
No, all expenses must be incurred within the nine months following the project's official announcement. While the project can last longer, only costs for the initial nine months will be covered.
Does a higher risk project have better chances of being accepted?
While the project must involve some risk, acceptance is not solely based on risk level. The overall innovation and potential impact play significant roles in the selection process.
Can the remaining 25% of project costs come from partners or external funding sources?
Yes, as long as the applicant can secure and commit to covering the 25% contribution at the time of application.
Can projects involve foreign providers?
Yes, there are no restrictions on the location of service providers.
Are enhancements to existing products eligible?
Yes, provided that the enhancements introduce significant new features or functionalities.
Can projects developed through strategic consultancy receive further funding?
Yes, but they must be submitted as separate applications if seeking additional funding under the program.
Conclusion
The Project Financing Program 2024-25 is a valuable opportunity for Quebec's tourism industry to innovate and grow. By providing significant financial assistance for both strategic consultancy and project implementation, the program aims to enhance competitiveness, address labor shortages, improve environmental impact, and drive digital transformation in the industry. Eligible enterprises and organizations are encouraged to apply and take advantage of this initiative to bring their innovative ideas to fruition.
