SME Impulse

Overview of the SME Impulse program:

The program is designed to foster the growth of young, innovative companies in all regions of Québec by providing financial support and leveraging private and recognized investors. It ensures businesses can advance through critical pre-commercialization stages and attract significant private funding. Specific goals include: Encouraging the emergence of innovative businesses across Québec. Increasing the number of companies ready for significant funding rounds. Generating private-sector co-investments. Creating high-value jobs throughout the province. Investments are provided in equity or quasi-equity (e.g., convertible debt or future equity agreements) and require a matching contribution from recognized private investors.

Benefits of the SME Impulse program:

• Participants in the program can expect:
• Financial support to address pre-commercialization funding gaps.
• The ability to attract private-sector investors through co-investment opportunities.
• Strengthened readiness for significant funding rounds.
• Enhanced ability to scale and create high-value jobs across Quebec.

Eligibility criteria of the SME Impulse program:

• Eligible businesses must:
• Be innovative and have high growth potential.
• Have their headquarters and the majority of permanent jobs based in Quebec.
• Be for-profit entities (excludes non-profits and cooperatives).
• Have at least two full-time employees (except biopharmaceutical companies).
• Be preparing for rapid growth and a significant funding round within 24 months (or 48 months for biopharmaceutical projects).
• Exclusions:
• Companies ineligible under public contract regulations.
• Businesses with unresolved financial obligations to Investissement Quebec.
• Companies with ethical or regulatory concerns or in industries like gambling, lotteries, or recreational cannabis.