Scholarships and competitions

In Quebec, there is an impressive variety of programs, competitions and scholarships organized by institutions and organizations to help entrepreneurs realize their projects. Examples include the Défi OSEntreprendre , the Bourses d'honneur from the Ministère de l'Économie et Innovation and the prizes awarded in several competitions. Thanks to these amounts of money awarded according to specific criteria, some entrepreneurs have managed to pilot their project over periods ranging from a few months to a year. With $10,000, $20,000 and $30,000, young companies sometimes find themselves with enough funds in their pockets for the year, not to mention the financing from other sources they have been able to benefit from.

Municipal and government investments

The Fonds de développement des territoires (FDT) provides support to the regions, generating economic benefits and mobilizing parties to contribute to the growth of entrepreneurship in the various cities of the province. PME MTL , for its part, supports businesses at different stages of development including start-up, by using a network of financing and support experts, as well as loans, grants and consulting services. In terms of government loans, the Business Development Bank of Canada (BDC) offers up to $100,000 in financing. In addition to this organization, there is the Futurpreneur program, which offers young entrepreneurs financing and mentoring.

Loans of honor

The National Bank – HEC Montréal Institute of Entrepreneurship accelerator awards cash prizes of up to $50,000 for supported startups and also loans of honor. It is not a scholarship, but rather an institution that provides loans without personal guarantee. It is therefore a solution that is becoming more widespread to meet startup financing needs. It is particularly established to encourage entrepreneurs to develop projects in the regions.

Venture Capital and Angel Investors

They are very important sources of financing in Quebec: investors inject capital into emerging companies to help them continue their efforts. Anges Québec , for example, orchestrates "the pooling of an efficient network" and promotes "the improvement of skills inherent to investment". They therefore offer financing, mentoring and support while working with several players in the entrepreneurial ecosystem in Quebec (e.g. incubators, accelerators).