INNOV-R — PRIMA
Highlights
This program is designed for businesses like yours that are committed to innovation and reducing greenhouse gas emissions. By participating, you can access funding for collaborative research projects that aim to develop advanced materials and innovative solutions. This can help your business stay ahead in the industry while contributing to a greener future.
Why Apply?
- Significant Funding: Receive financial support to develop and commercialize new technologies.
- Partnership Opportunities: Collaborate with universities, public research centers, and other industry leaders.
- Environmental Impact: Contribute to reducing GHG emissions by at least 50,000 tonnes of CO2 eq. in the first ten years.
What’s in it for You?
- Cost-Effective Financing: The program offers funding at less than $20 per tonne of CO2 avoided, making it a cost-effective option.
- Growth and Innovation: Enhance your R&D capabilities and bring innovative products to market faster.
- Easy Qualification: If your project aligns with the program’s goals, qualifying is straightforward.
By getting approved, your business will not only gain financial support but also strengthen its position as a leader in sustainable innovation.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- This is a grant, so there are no repayment terms or interest rates. The funds provided do not need to be repaid.
Eligible Expenses:
- Research and development activities
- Salaries for research staff
- Purchase of equipment and materials directly related to the project
- Costs associated with testing and validation
- Travel expenses for project-related activities
Ineligible Expenses:
- General operational costs not related to the project
- Marketing and advertising expenses
- Office supplies and administrative costs
- Any expenses incurred outside the project timeline
Fees:
- There are no fees associated with applying for or receiving this grant.
Qualifications
- Must be a Québec public research institute (IRPQ).
- Must involve at least one company or NPO established in Québec.
- The company or NPO must have in-house production or research and development activities.
- Must involve at least one IRPQ (university, college technology transfer center (CCTT), or public research center) established in Québec.
- Must demonstrate a strong potential to reduce GHG emissions in Québec.
- Must reduce or avoid at least 50,000 tonnes of CO2 eq. in the first ten years after commercialization.
The MEIE/MELCC contribution to the project must be less than $20 per tonne of CO2 avoided.
Disqualifications:
- Projects that do not involve a Québec public research institute (IRPQ).
- Projects that do not include at least one company or NPO established in Québec.
- Projects that do not have in-house production or research and development activities.
- Projects that do not demonstrate a potential to reduce GHG emissions in Québec.
- Projects that cannot reduce or avoid at least 50,000 tonnes of CO2 eq. in the first ten years after commercialization.
- Projects where the MEIE/MELCC contribution exceeds $20 per tonne of CO2 avoided.
Description
This program supports innovation in advanced materials by funding research projects that aim to reduce greenhouse gas (GHG) emissions in Québec.
Your business can receive funding to collaborate with research institutes like universities or public research centers. This partnership can help you develop new materials or technologies that significantly cut down GHG emissions.
The funding can cover up to $20 per tonne of CO2 avoided, with a goal of reducing at least 50,000 tonnes of CO2 equivalent within the first ten years after your innovation is commercialized. This means you get financial support to create solutions that are both innovative and environmentally friendly.
By participating, you gain access to cutting-edge research and expertise. This can accelerate your product development and help you meet industry challenges more effectively. The program not only boosts your innovation but also contributes to a greener future.
Program Steps
Prepare Required Documentation: Gather the necessary documents for your application. These include:
- Business plan
- Financial statements
- Details of intended use of funds
- Quotes for equipment or project costs
- Proof of partnership with a Québec public research institute (IRPQ)
- Evidence of potential GHG emissions reduction
Complete the Letter of Intent: Fill out the Letter of Intent form, outlining your project’s objectives, partners, and expected outcomes.
Submit the Letter of Intent: Send the completed Letter of Intent before noon on January 29, 2024, to the designated contact.
Prepare Full Proposal: If your Letter of Intent is accepted, prepare a detailed project proposal. This should include a comprehensive project plan, budget, and timeline.
Complete the Application Form: Fill out the Regular Application Form or the Fast Track Form, depending on your project’s requirements.
Calculate Funding Needs: Use the Funding Calculation Help Table to determine the financial support your project will need.
Submit Full Proposal and Application Form: Submit your detailed project proposal and the completed application form before noon on March 27, 2024.
Review and Follow-Up: After submission, be prepared to provide additional information or clarification if requested by the review committee.
Await Approval: Once your application is reviewed, you will be notified of the decision. If approved, you will receive the funding to proceed with your project.