Quebec International — Starting a business and making it grow
Highlights
This program is designed for businesses like yours, offering a unique opportunity to grow and thrive in Québec City. Why is this program for you? It provides tailored support and resources to help you start, expand, or modernize your business. With access to a network of regional partners and incubators, you can connect with the right people to overcome your challenges and achieve your goals.
Why should you apply? The program offers a range of benefits, including:
- Free consulting services from experts in various fields
- Access to incubators and accelerators to speed up your growth
- Training activities to sharpen your entrepreneurial skills
- Financial assistance to support your business projects
What’s in it for you? By participating, you can receive up to $75.8 million in funding, with an additional $19.6 million available until March 2025. This funding can be used for operating expenses, new equipment, software, and more. The program is backed by the government, offering flexible repayment options and making it easier to qualify compared to other financing options. Being approved can significantly boost your business, providing the resources and support needed to succeed.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed rate of 3.5% per annum.
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Intangible assets (e.g., patents, trademarks)
- Working capital
Ineligible Expenses:
- Personal expenses
- Real estate purchases
- Repayment of existing debts
Fees:
- Application Fee: $150
- Processing Fee: 1% of the loan amount, which can be financed as part of the loan.
Qualifications
- Must be located in Québec City.
Must be involved in one of the following sectors:
- Life Sciences and Health Technologies
- Information and Communication Technologies
- Electronics and Optics-Photonics
- Food and Nutrition
- Green and Smart Building
- Insurance and Financial Services
- Artificial Intelligence
- Manufacturing
- Francophonie
Disqualifications:
- Businesses not located in Québec City.
Description
This program offers your business a fantastic opportunity to grow and thrive. You can receive up to $75.8 million in funding over four years, with an additional $19.6 million recently added. This funding is aimed at making Québec City the entrepreneurial capital of the country by 2026.
You can use this money for various purposes, such as starting a new business, expanding your current operations, or modernizing and digitally transforming your business. The funds can also help you with international recruiting, sales and exports, and technological entrepreneurship.
The program is designed to support your business with no immediate payback period, allowing you to focus on growth and innovation. With the backing of the Government of Québec, the City of Québec, Secrétariat à la Capitale-Nationale, and Québec International, your business will have access to a robust network of support and resources. This is a unique chance to take your business to the next level.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. These may include:
- Business plan
- Financial statements (e.g., balance sheets, income statements)
- Proof of business registration
- Tax returns
- Identification documents for business owners
- Any other documents specific to your business sector
Complete the Application Form: Fill out the application form provided by the program. Ensure all fields are completed accurately and thoroughly.
Submit the Application: Submit your completed application form along with the required documentation. This can typically be done online through the program's website or in person at a designated office.
Attend an Information Session: If required, attend an information session or workshop provided by the program to better understand the application process and program benefits.
Follow Up: After submission, follow up with the program's contact person or office to ensure your application is being processed and to provide any additional information if requested.
Review and Approval: Wait for the review and approval of your application. This may involve further discussions or meetings to clarify any details.
Receive Funding: Once approved, you will receive the funding or support as outlined in the program. Make sure to understand the terms and conditions associated with the funding.
Implement the Project: Use the funds or support received to implement your business project as planned. Keep detailed records of how the funds are used.
Report Progress: Periodically report on the progress of your project as required by the program. This may include financial reports, project updates, and other documentation.
Complete Program Requirements: Ensure all program requirements are met, including any final reports or evaluations. This will help maintain good standing for future opportunities.