How much funding can be received?

Funds up to 70% of admissible expenses, capped at $20000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Entreprendre Sherbrooke — Propulsion Fund Sherbrooke?

Entreprendre Sherbrooke — Propulsion Fund Sherbrooke is funded by Entreprendre Sherbrooke

What are Entreprendre Sherbrooke — Propulsion Fund Sherbrooke's eligibility criterias?

The company must be located in the territory of Sherbrooke. It must be a for-profit or a social economy enterprise. The project must create or maintain jobs.

Entreprendre Sherbrooke — Propulsion Fund Sherbrooke

Last Update: February 16, 2025

Sherbrooke, QC

Support for entrepreneurship development in Sherbrooke businesses

Entreprendre Sherbrooke — Propulsion Fund Sherbrooke at a glance

Eligible Funding

From $1,000 to $20,000
Up to 70% of project cost

Timeline

Continuous Intakes

Financing Type

Grant and Funding

Eligible Industries

Retail trade
Arts, entertainment and recreation
Accommodation and food services
Other services (except public administration)
Public administration

Grant Providers

Entreprendre Sherbrooke

Status

Open

Overview of the Entreprendre Sherbrooke — Propulsion Fund Sherbrooke program

The Propulsion Fund Sherbrooke, managed by Entreprendre Sherbrooke, supports entrepreneurship development in Sherbrooke with non-repayable contributions up to $20,000 for eligible business ventures, prioritizing local commerce and services. The program is aimed at business start-ups, growth, succession, acquisitions, and projects ensuring the sustainability of existing enterprises.

Financing terms and conditions

The financial aid is non-repayable for social economy enterprises, covering up to 70% of project costs, with a minimum of $1,000 and a maximum of $20,000.
For for-profit enterprises, the non-repayable aid covers up to 10% of project costs, with a minimum of $1,000 and a maximum of $8,000.
An additional $2,500 may be granted to enterprises in startup, succession or takeover projects to cover professional fees, with a portion allocated for accounting services.
For proximity businesses, an extra non-repayable amount equaling 25% of the initial grant can be awarded based on eligibility.
Funds can cover capital expenditures, acquisition of technology, professional fees, and working capital for initial operational year.
Financial aid can cover up to 80% of project costs for social economy enterprises and up to 50% for for-profit enterprises, when combined with other governmental aids.
Financial disbursement is staged, with initial payments upon financial partner confirmation, and final disbursements tied to project evaluations.
For startups in pre-launch phase, 50% of market test-related costs is reimbursable upon invoice submission, up to a limit.

Eligible projects & activities

Business startup projects.
Business growth projects.
Business succession projects.
Business acquisition projects.
Projects ensuring the sustainability of an existing business.
Creation or maintenance of jobs through eligible business activities.

Examples of admissible projects:

$ 40,000

Installation of solar panels for community energy savings

Eligibility criteria of the Entreprendre Sherbrooke — Propulsion Fund Sherbrooke program

The business must be located on the territory of Sherbrooke.
The project should demonstrate the capacity to create or maintain jobs.
For start-up projects, there must be realistic financial forecasts for a two-year period.
The company must demonstrate its viability and profitability through a business plan.
The applicants must be aged 18 years and over.
Applicants must not be bankrupt or must demonstrate they have been discharged from any bankruptcy judgment.
Businesses at the pre-commercialization stage can request funding for market tests up to a specified maximum.
The business must be either a for-profit company or a social economy enterprise, not inclusive of certain excluded sectors.
The company must comply with the capital investment requirements, including a minimum capital level based on project cost.
20% of the board of directors must be Canadian citizens or permanent residents for profit-oriented companies.
The business should engage in a market with development potential.
The business must return the financial contribution if relocating outside Sherbrooke within two years of the grant agreement.
The business must not fall into one of the excluded sectors (e.g., pyramid schemes, controversial industries, seasonal projects).

Who is eligible?

Social economy enterprises located in Sherbrooke.
For-profit enterprises located in Sherbrooke active in the following sectors:
- Commerce and services
- Artisanal production
- Agrifood

Who is not eligible

Pyramid schemes.
Enterprises promoting violence, nudity, sexuality, religion, politics, or involved in controversial activities.
Self-employed workers or those remunerated on commission.
Seasonal projects that do not guarantee year-round operational activities.

Eligible expenses

Capital expenses such as land, building, equipment, and machinery.
Incorporation fees and patents.
Acquisition of technologies, software, or off-the-shelf solutions.
Professional fees.
Working capital needs strictly related to the company's operations calculated for the first year of operation.

Eligible geographic areas

Sherbrooke, Quebec, Canada.

Eligibility criteria of the Entreprendre Sherbrooke — Propulsion Fund Sherbrooke program

Demonstration of the project's viability and profitability via a business plan with realistic financial forecasts over two years.
Capacity to maintain existing jobs in cases of succession, takeover, or growth projects.
For startups, proof of creation of at least one job within the first two years for social economy enterprises, or two jobs for for-profit enterprises.
Management team experience and/or training related to the project’s field.
Presence in a market with development potential, evaluated by the project assessment committee.
Compliance with financial contribution limits and capital requirements set by the grant guidelines.

How to apply to the Entreprendre Sherbrooke — Propulsion Fund Sherbrooke program

Preparation of the documentation

For Component 1, gather: business plan, curriculum vitae of key contacts, copy of the incorporation charter, copies of the bylaws, letters of support, financial statements from the last 3 years, projected financial statements for 2 years, up-to-date interim financial statements, the latest activity report, board resolution, and any other relevant documents.
For Component 2, gather: business plan, curriculum vitae of key contacts, external financial statements from the last 3 years, projected financial statements for 2 years, up-to-date interim financial statements, and any other relevant documents.

Preliminary analysis of the project

Ensure that the project meets the eligibility criteria specified for the chosen component.
Validate the feasibility and profitability of the project using the forecast financial statements.

Contact with Entreprendre Sherbrooke

If necessary, contact Magnoudéwa Tangou, strategic funding advisor, for advice or clarifications.

Submission of the request

Submit all required documentation and the application form through the channels defined by Entreprendre Sherbrooke.

Additional information

Financial assistance in the form of a non-repayable contribution is meant to be complementary to existing governmental programs and not a substitute.
An enterprise may only benefit from the FPS contribution once every 24 months, with certain exceptions.
Quarterly financial statements must be submitted following the receipt of the contribution for a period of 24 months.
If the business relocates outside Sherbrooke within two years of receiving the contribution, the full amount must be repaid within 30 days of the move.
The financial contribution should not be used for repaying any debts.
For eligibility, the business must have a capitalization level representing at least 20% of the project cost including the FPS non-repayable contribution, and a minimum of 10% of this must be in cash.