Loan
Provincial
Active
Initiative grand V
Investissement Québec
Loan Range
Set case by case. Financing takes the form of a term loan, a...
No deadline stated; applications go through the online form
Difficulty
Hard
Payment
Mixed (Advance + Reimb.)
Trend
Stable
First-Timers
—
Financing share
Varies
Initiative grand V provides up to Set case by case. Financing takes the form of a term loan, a direct venture capital investment or an equity or quasi-equity investment by Investissement Québec, or an investment through a partner specialized fund. No per-business cap is published. Investissement Québec's grand V initiative funds innovation and sustainable productivity projects for Québec businesses from start-up to large enterprise. No deadline stated; applications go through the online form.
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Eligibility & Details
What this program funds and who can apply
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Program Description
Investissement Québec's grand V initiative funds innovation and sustainable productivity projects for Québec businesses from start-up to large enterprise. Financing is flexible: a term loan for companies with significant recurring revenue, direct venture capital or equity and quasi-equity investment from IQ, or a referral to a partner specialized fund. The duo grand V combination adds up to 100 hours with IQ innovation experts. The initiative targets $4.5 billion in financial interventions over 2024 to 2027.
Eligibility Requirements
- Québec businesses of any size, from start-up through SME to large enterprise
- Project must be an innovation or sustainable productivity project
- Term loan: the business must generate significant and recurring revenue, and demonstrate a healthy financial situation, good growth prospects and good repayment capacity
- Equity or quasi-equity investment by Investissement Québec: the business must demonstrate a healthy financial situation and good growth prospects
- Investment through partner specialized funds: each fund has its own investment criteria and process, and Investissement Québec refers you to funds that suit your needs
- High-tech or scientific start-ups can be financed by term loan or by direct venture capital investment
- Conditions apply both to the technological support and to the granting of financing or venture capital investment
Provinces
Industries
Business Stage
Quick Assessment
Difficulty
Hard
Competition
Moderate
First-Timer
Not rated
Funding Details
- Amount
- Set case by case. Financing takes the form of a term loan, a direct venture capital investment or an equity or quasi-equity investment by Investissement Québec, or an investment through a partner specialized fund. No per-business cap is published.
- Type
- Loan
- Level
- Provincial
- Deadline
- No deadline stated; applications go through the online form
Program Scorecard
Competition, effort, and approval at a glance
Competition
Moderate
Deadline
Ongoing
Approval
Varies
Accessibility
--/5
Competition
--/5
Approval Rate
--%
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How to qualify
Insider tips, common pitfalls, and what successful applicants look like
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Insider TipThe term loan carries two concessions worth real money: capital repayment can be deferred up to 48 months with no rate penalty, and there is no file analysis fee.
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See what trips up most applicants for this program — and how to avoid it.
Rejection Pitfalls 4
- The project is not an innovation or sustainable productivity project
+3 more pitfalls
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Success Profile
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Evaluation Criteria
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All 4 pitfalls, the checklist and the reviewer notes are in the Playbook below. See what it includes ↓
What's in this Playbook
Everything you need to secure Initiative grand V
Not a marketing summary. The actual checklist, intel, and stack strategy reviewers look for.
- 4 rejection pitfalls reviewers flag — so you catch them first
- Your Application Game Plan — the print-ready PDF the preview below describes
- 4-step application timeline with prep hours per step
- Insider tip from program officers on what separates winners
- Success profile + evaluation criteria — exactly what lenders look for
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Application Playbook
Step-by-step process, required documents, and expenses
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4 steps
Application Steps
1
Check the project fits Eligible projects are acquiring, implementing or developing innovative technologies (clean, digital, automated, robotic), R&D on an innovative product, technology or equipment through to commercialization, acquiring or modernizing a building for the innovative project, adopting eco-responsible or innovative practices, and the study and consulting work that leads to those.
Eligible Expenses 5
Deadline Notes
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Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
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Stacking partner data not yet available.
Combined Funding Potential
See your total funding potential
Clawback Risk
Not-applicable Risk
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How Initiative grand V Compares
Side-by-side with similar programs
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| Program | Amount | Difficulty | Payment | Deadline |
|---|---|---|---|---|
| Initiative grand V | Set case by case. Financing takes... | Hard | Mixed (Advance + Reimb.) | No deadline stated;... |
| Quebec R&D Tax Credit (CRIC — Researc... | 20-30% tax credit (CRIC) | Hard | Tax Credit Offset | Ongoing |
| Investissement Québec — Project Finan... | Varies | Hard | Mixed (Advance + Reimb.) | Ongoing |
| Canada Economic Development for Quebe... | Varies | Moderate | Reimbursement | Ongoing |
| PME MTL - Fonds Jeunes Entreprises | Up to $25,000 | Moderate | Reimbursement | Ongoing |
Related Programs
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Frequently Asked Questions
Quick answers to the questions founders most often ask about Initiative grand V
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Who is grand V for?
Every Québec business, from start-up through SME to large enterprise, with an innovation or sustainable productivity project. It also supports R&D activity, from applied research through to commercializing innovative technologies.
What kind of money is it?
Flexible financing rather than a grant. It can be a term loan, a direct venture capital investment or an equity or quasi-equity investment by Investissement Québec, or an investment through a partner specialized fund.
What projects are eligible?
Acquiring, implementing or developing innovative technologies (clean, digital, automated and robotic); R&D to develop or significantly improve an innovative product, technology or equipment; acquiring or modernizing a building in order to carry out the innovative project; adopting eco-responsible or innovative practices; and the study, consulting and expert work that leads toward adopting them.
What does a start-up without revenue get?
High-tech or scientific start-ups can be financed by term loan or by direct venture capital investment. The term loan requires significant and recurring revenue, so a pre-revenue start-up is directed to the venture capital or equity route instead.
Can I defer repayments?
A business with a project eligible for the grand V financing solution can get a moratorium on capital repayment of up to 48 months, with no impact on the interest rate, and pays no file analysis fee.
What is the duo grand V?
It is the combination of flexible financing with technological support, which can qualify you for a bank of hours with Investissement Québec innovation experts, up to 100 hours depending on conditions.
How do I apply?
Fill in Investissement Québec's online form to get the details of its financing and support solutions or to make a request.
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Full Playbook: Initiative grand V
4 steps · reviewer insights