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i.DEV360 Innovation Fund
The i.DEV360 Innovation Fund aims to promote innovation, the development of new markets, and enhance business operational efficiency. The financial assistance, which includes a grant portion, is available to the industrial, commercial, and tourism sectors.
Information
The industrial component of the i.DEV360 Innovation Fund targets companies in the following sectors:
- Manufacturing
- Distribution, Wholesale and Storage
- Related services
Eligible businesses can take advantage of the 5 different components proposed, depending on their needs:
- Part 1 – Workshops/training – digital shift * free of charge *
- Part 2 – Consultations/micro-diagnostic * free of charge *
- Part 3 – Feasibility Study – Transition 4.0/Digital Shift
- Part 4 – Project execution
- Part 5 – Free consultations with the CIQMO * free of charge *
Eligibility Criteria
To be eligible, the company must:
- Be in operation in Quebec for no less than a year
- Have sales between $ 500,000 and $ 25,000,000
- Propose a well-defined project (needs, objectives)
- Possess the financial, human, and material capacity to carry out the project
- Demonstrate market viability
Conditions
Part 3
- Loans from $ 6,000 to $ 15,000
- 4 % financing rate
- Amortization over 36 months
- 3-month capital moratorium
- Non-refundable assistances of $ 2,000 to $ 5,000 (until funds are exhausted)
- No application fees
Detail of financial aid |
|||||
| Minimum Project Cost | $ 10,000 | $ 15,000 | $ 20,000 | $ 25,000 | |
| Loan (FLI) | $ 6,000 | $ 9,000 | $ 12,000 | $ 15,000 | |
| Non-refundable assistance | $ 2,000 | $ 3,000 | $ 4,000 | $ 5,000 | |
Part 4
- Loans from $ 15,000 to $ 100,000
- 4 % financing rate
- Amortization over 60 months
- 3-month capital moratorium
- Non-refundable assistances of $ 3,000 to $ 15,000 (10% of project cost, until funds are exhausted)
- Application fee of 1,5 % of the loan
Detail of financial aid |
|||||
| Minimum Project cost | $ 25,000 | $ 50,000 | $ 75,000 | $ 100,000 | $ 150,000 |
| Loan (FLI) | $ 15,000 | $ 30,000 | $ 50,000 | $ 70,000 | $ 100,000 |
| Non-refundable assistance | $ 3,000 | $ 5,000 | $ 8,000 | $ 10,000 | $ 15,000 |
Part 5
Opération Prospérité Québec – Montérégie-Ouest offers companies with an export project 5 to 20 hours of free consultations with Commerce International Québec Montérégie-Ouest (CIQMO) advisors. These consultations include an export diagnosis, market research and contacts with potential customers.
Filing an application
To file an application, the entrepreneur will have to submit the Application Form below, along with all the required documentation, by email to ngagnon@developpementvs.com.
For any additional information, please contact us at 450 424-2262.
The Commercial and Tourism component of the i.DEV360 Innovation Fund prioritizes the following sectors:
- Retail
- Restaurant and food services
- Service companies
- Tourism businesses (digital shift)
Types of eligible projects
- Achieve digital transition
- Business development
- Innovation and continuous improvement
Eligibility Criteria
To be eligible, the company must:
- Be in operation in Quebec for no less than a year
- Have sales between $ 250,000 and $ 5,000,000
- Propose a well-defined project (needs, objectives)
- Possess the financial, human, and material capacity to carry out the project
- Demonstrate market viability
Conditions
- Loans from $ 10,000 to $ 30,000
- 6 % financing rate
- Amortization over 36 months
- 3-month capital moratorium
- Non-refundable assistances of $ 3,000 to $ 9,000 (20% of project cost, until funds are exhausted)
- No application fees
Detail of financial aid |
||||
| Minimum project cost | $ 15,000 | $ 30,000 | $ 45,000 | |
| Loan (FLI) | $ 10,000 | $ 20,000 | $ 30,000 | |
| Non-refundable assistance | $ 3,000 | $ 6,000 | $ 9,000 | |
Filing an application
To file an application, the entrepreneur will have to submit the Application Form below, along with all the required documentation, by email to ngagnon@developpementvs.com.
For any additional information, please contact us at 450 424-2262.
