FAQ

Can I submit an application if I am under 18 or over 35 years of age?

No. Entrepreneurs who submit an application for the Montreal inc. Grant must be aged between 18 to 35 at the time of the review of their application.

What if I don't live in Montreal but intend to launch my business in Montreal?

A project is eligible if the entrepreneur submitting the application detains 50% or more of the shares, resides in Montreal and his/her business is based in Montreal, among other criteria. To find out if you are eligible, check the list of Montreal's boroughs and reconstituted suburban citiese.

Can I submit an application before the deadline?

We launch four Drafting Rounds every year.  You can only submit an application during those rounds, which last approximately 1 month each.

When can I expect an answer?

Within 11 weeks following the closing of the ongoing Drafting Round. 

Why was my project refused?

Even if an application meets all the eligibility criterias, it does not guarantee that it will be awarded a grant. The evaluators select the laureates based on several other criteria, including the solidity of the business plan, its innovative edge, its potential for job creation and for enhancing Montreal's international profile.

Can I submit an application twice if I am refused the first time around?

A project can only be submitted once.

Can I take part in the Fondation events even though I'm not a laureate?

The Fondation's services (workshops, trainings, coaching, etc.) are exclusively offered to its laureates and promotors (and their employees).   Fondation Montréal inc. helds, 2 or 3 times a year, events which are accessible to entrepreneurs that aren't part of a Montreal inc. cohort, as for example La grand-messe Montréal inc.  Subscribe to our newsletter to receive exclusive news and events from us.

How do you determine the amount given in grant?

The grants awarded are between $5,000 and $30,000 and are based on an analysis of the startup costs of the business. Our grants committee, formed by volunteers from the business community who are recognized in their field, determines the amount of the grant. Fondation Montréal inc. never covers more than 25% of the startup costs.

If I am awarded a grant, do I have to reimburse it?

We awards grants. They are therefore not reimbursable because they are not loans. However, certain conditions must be respected when the amounts are allocated.

What differentiates the Fondation from other similar organizations?

The Foundation is 85% financed by the private sector. It therefore relies on the support of businesses and a united and mobilized business community that believe in the relevance of its mission, which is to propel a new generation of promising young Montreal entrepreneurs toward success. Being awarded a grant by the Foundation is a first step toward becoming part of Montreal Inc. and being provided with the opportunity of taking advantage of an incomparable business network that generously offers advice and services free of charge to help lead you to success.

How can I get involved with the Fondation?

The Fondation is constantly on the lookout for volunteers. Whether it be to provide support, advice or services to a young entrepreneur or give a hand in the organization of our fundraising events. Based on your profile and experience, we will determine where your expertise would be most useful and you too will help build the Montreal Inc. of tomorrow.  To become a volunteer, submit your application online and you will be contacted by our Chief Volunteer, Pierre Leblanc.

I do not have my permanent residency yet. Am I eligible?

You are eligible if you have a Certificat de sélection du Québec, but you may only receive the grant if you are a permanent resident.

I am over 35 years old, but my business partner is under 30 years old, can we participate?

To be eligible for the Grant, an entrepreneur must meet all the eligibility criteria.  In the above example, your business partner would need to possess 50% or more of the shares as well as meet the other eligibility criterias.  http://www.montrealinc.ca/en/grant/how-get-grant

I am launching a cooperative, am I eligible?

If your cooperative is: for profit, the majority of the members are between 18 and 35 years old and they reside in Montreal, yes you are eligible.

I want to work for myself, am I eligible?

We do not accept self-employed candidates because we look for business that will create jobs, more specifically at least 3 jobs in the first 2 years of launching.

What sectors of activity are eligible for a grant?

The Fondation funds businesses that operates in all sectors of activity.

How can I stand out and be selected?

We focus on the following four criterias:

  • Innovative character (competitive advantage on the market is important)
  • Driver of economic growth
  • Potential for job creation (minimum of 3 new jobs in the next 2 years)
  • Potential to positively impact the image of Montreal beyong borders
What documents are required?

A business plan, financial projections and personal balance sheet.

What does the business plan need to include?

The choice of format for your business plan is up to you.  However, it must contain two-year financial forecasts as well as results of your maket validations activities.

In order to be eligible, does my business have to be incorporated?

No, the legal structure of your business is up to you, but your business must be for profit.

Must I already have made sales to be eligible?

No, but the more advanced your project is, the more you reduce the perception of commercial risk.  Please note that an entrepreneur cannot submit the same project twice.  If you feel that your project is not sufficiently advanced, we suggest you wait until the next Drafting Round.

I will finish my studies shortly after submitting my application, am I eligible?

Yes, but entrepreneurs who receive the grant are expected to be working full time in their business if they are to be offered a grant.

Who is going to evaluate my project?

A first sorting out of the applications is done by the entrepreneurship coordinators at the Fondation.  Subsequently, the selected businesses will meet with external evaluators, who are business volunteers.  Finally, the grant committee offers its recommandations before the final annoucement is made.

Do you notify candidates who are not selected?

Yes, candidates who are not selected are notified via email.

Am I going to have to do an oral presentation?

If your project is pre-selected for the evaluation phase, yes.

What are my chances of obtaining a grant?

The Fondation receives on average 100 to 150 applications, every Drafting Round.  Only the best of businesses, the most innovative with the most growth potential, will receive a grant.

How do you determine the amounts?

The grants vary between $5,000$ and $30,000.  The amount is determined by the grant committee and is based on an analysis of the startup costs of the business.  We provide up to 25% of the startup costs, never more.

Is the grant instalment conditionnal to anything?

Yes, there are conditions that must be respected in order to receive the grant instalment.  The conditions will be shared with you during a private meeting with one your coordinator.

If we are not selected, will we be allowed to use the services of the Fondation?

Since 2015, the Zone Mtl inc. has also been accepting projects as promotors.  In the event that you are accepted in the Zone as a promotor, you will not receive a grant, nevertheless you will have access to all our free services for a period of 12 months.  The particularity of being a promotor is that you get the chance to apply for the Grant a second time, as opposed to projects who are refused.