FINANCIAL SUPPORT FOR INNOVATIVE PROJECTS

Published On - 01/05/2023

Novinor Innovation

INNOVATION PROGRAM INVESTISSEMENT QUÉBEC

COMPONENT 1 – FINANCIAL SUPPORT FOR INNOVATIVE PROJECTS

The five (5) criteria to be eligible for financial support from Investissement Québec for your innovation projects.

Nothing is more exciting than having a solution “that no one has thought of before” to solve your problem.

When you’re alone in your head, believing that this solution will put an end to an existential problem, and suddenly, THE most important question haunts you.

How and where to find the funds to develop this idea, this new technology?

First and foremost, you must have the means to achieve your ambitions.

Fortunately, you can refer to the Investissement Québec application guide for financial support for your innovative project.

The Innovation program standardizes the financing offer by offering a continuum to innovative companies throughout the innovation chain, from the research and development stage to the technological showcase. Financial assistance must clearly complement and not replace private funding sources and other regular programs of the Quebec government.

Before going any further, how about asking yourself if you meet the eligibility criteria for this financial assistance from the Quebec government?

Here are the five (5) eligibility criteria: :

  1. The project must involve the development of a new product or process or the significant improvement of an existing product or process.
  2. The project must involve the necessary level of innovation, i.e. the product or process must present a decisive advantage over existing solutions on the market and in relation to the sector of activity at the national or international level.
  3. The project must involve a technological or business risk or uncertainty for the company.
  4. The project must have required or will require research and development efforts.
  5. When the product or process is intended for sale, the project must demonstrate commercial potential.

The Quebec government recognizes the importance of investing in the research and development of new technologies. It even designates a complete ministry to help individuals, organizations and companies to realize their innovative project.

It even designates the year 2023 as the Year of Franco-Quebec Innovation as an opportunity to strengthen the relationship between France and Quebec, mainly in economic sectors that create jobs in both territories.

From these initiatives come multiple opportunities to find funding to get your innovative ideas off the ground.

To access these opportunities, it is generally preferable to be accompanied by professionals to save time and avoid blockages on issues and questions for which experience offers answers.

If you would like to learn more about these programs and be professionally accompanied in these steps, Novinor Innovation can help you.

We invite you to contact us..

We look forward to working together!

Jean-Yves Poitras, industrial commissioner