Financial Support for the Development of the Commercial Fisheries and Aquaculture Sector: Improvement of the Competitiveness of Aquatic Product Processing Companies – Improving the Productivity of Aquatic Product Processing Companies
$500,000
Grant
Description:
This component providea funding for enhancing the productivity and profitability of companies in the aquatic product transformation sector.
Comments on Funding:
The financial assistance consists of a non-repayable contribution in the form of a grant. It is calculated according to the parameters .
The program ends on March 31, 2026, or when the funds are exhausted, whichever comes first
Eligibility:
Applicants must:
1. be businesses that have an establishment located in the maritime regions of Quebec;
2. possess the required authorizations or permits for carrying out activities that lead to the implementation of an eligible project:
a) Aquatic product processing companies whose main activity is the preparation and canning of aquatic products;
b) Commercial marine co-products and biotechnology valorization enterprises.
Application Steps:
Verify Eligibility
Companies processing aquatic products
Projects improving productivity (modernization, automation, innovation)
Prepare Required Documents
Completed application form
Project description (objectives, outcomes, plan)
Financial statements
Quotes/estimates for expenses
Supporting documents
Submit Application
Send all documents to the MAPAQ regional office
Follow submission deadlines
Review & Decision
Evaluation based on project relevance and impact
Applicants receive a decision notification
Documentation Needed:
Completed and signed financial assistance application form: This form must be filled out accurately and bear the necessary signatures.
Financial statements: Provide the company’s financial statements for the past two years. If these are unavailable, submit the T2042 forms from the Canada Revenue Agency for the last two years. For startups unable to produce financial statements for the previous two years, an exemption may be considered if justified at the time of application.
Depending on the nature of the project, additional documents may be required to complete your application:
Detailed project description: Include a comprehensive business plan with a marketing strategy and budget forecasts for the first three years of production.
Expert opinions: Any expert assessments or other documents necessary for a thorough evaluation of the application.
Service offers: Detailed proposals when engaging professional or contractual services valued at $2,500 or more before taxes.
Quotations: Estimates for equipment purchases valued at $2,500 or more before taxes.
Authorization documents: If applicable, a power of attorney or a board resolution authorizing the signatory to submit the financial assistance application on behalf of the applicant.
Other Things to Note:
The program comes into effect on April 18, 2023, and ends on March 31, 2026, or upon the depletion of funds, whichever occurs first.
About the author
Maurice
