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.
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.
We launch four Drafting Rounds every year. You can only submit an application during those rounds, which last approximately 1 month each.
Within 11 weeks following the closing of the ongoing Drafting Round.
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.
A project can only be submitted once.
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.
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.
We awards grants. They are therefore not reimbursable because they are not loans. However, certain conditions must be respected when the amounts are allocated.
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.
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.
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.
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
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.
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.
The Fondation funds businesses that operates in all sectors of activity.
We focus on the following four criterias:
A business plan, financial projections and personal balance sheet.
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.
No, the legal structure of your business is up to you, but your business must be for profit.
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.
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.
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.
Yes, candidates who are not selected are notified via email.
If your project is pre-selected for the evaluation phase, yes.
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.
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.
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.
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.