Initiative grand V
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Eligibility & Details
What this program funds and who can apply
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
Quick Assessment
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
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
- 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
How to qualify
Insider tips, common pitfalls, and what successful applicants look like
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.
Rejection Pitfalls 4
- The project is not an innovation or sustainable productivity project
Success Profile
Evaluation Criteria
Application Playbook
Step-by-step process, required documents, and expenses
Application Steps
Eligible Expenses 5
Deadline Notes
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Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
Stacking partner data not yet available.
Clawback Risk
Not-applicable RiskHow Initiative grand V Compares
Side-by-side with similar programs
| 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 |
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Frequently Asked Questions
Quick answers to the questions founders most often ask about Initiative grand V