Fonds Nouvel entrepreneur (New Entrepreneur Fund)

By mmuise
Description:

Sherbrooke Innopole offers entrepreneurs a non-refundable grant which varies according to the company’s sector of activity to start a first business.


Comments on Funding:

Funding is a a non-repayable contribution of up to $15,000.

Deadline: -
Eligibility:

The candidate must:

  • be a Canadian citizen or a permanent resident with main residence in Québec;
  • be 18 years of age or older;
  • have experience and/or training in a field related to the project;
  • be incorporating a company for the first time;
  • hold at least 35% of company shares;
  • be committed to working full-time for the new business or be part of the Accélérateur de création d’entreprises technologiques (ACET) program or the Espace-inc acceleration program;
  • be free from any bankruptcy judgement;
  • be committed to reimbursing the financial contribution granted if the business place moves away from Sherbrooke before a minimal 5-year period from the date of the signature of the agreement with Sherbrooke Innopole.
    The company must:
  • be located and operate in the City of Sherbrooke;
  • be a for-profit company;
  • be part of the key sectors prioritized by Sherbrooke Innopole:
    a) Advanced Manufacturing;
    b) Information Technologies;
    c) Cleantech;
    d) Life Sciences;
    e) Micro-nanotechnologies.
  • create two full-time permanent jobs, including the entrepreneur(s), within the first two years of business;
  • be based on a business plan with realistic financial forecasts that demonstrate business viability and profitability;
  • have a level of capitalisation of at least 20% of total assets, including a maximum of 50% of the contribution granted (capitalization must include at least 10% personal cash investment / transfer of useful assets may be considered as capitalisation for up to 10%);
  • be in pre-commercialization or start-up phase (between 0 and 6 months of commercialization),
    Businesses in the seed stage are not accepted;
  • must be funded through a source other than Sherbrooke Innopole.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise