ADM Fund / 375 idea
At a glance
- Max. $7,500
- Open Date : April 22, 2024
- All industries
- City of Montreal (MTL)
Overview
Eligibility criteria
The Fonds ADM / 375 idées grant aims to support young entrepreneurs in Montréal with a $7,500 loan at a 2% interest rate. To be eligible, the business must be majority-owned by shareholders aged 18-40, have a head office in Montréal, reach 100% of crowdfunding goals, and present a viable business plan.
- Majority ownership by shareholders aged 18-40
- Head office in Montréal
- Completed 100% of crowdfunding campaign on La Ruche
- Pre-startup, startup, or growth phase for less than 2 years
- Viable business plan with potential for profitability
Who is eligible
There are eligible types of companies for this grant.
- Companies or business projects majority owned by shareholders between the ages of 18 and 40 and majority Canadian citizens, permanent residents, or hold a Quebec selection certificate (CSQ)
- Companies with head offices located in the City of Montreal territory
- Companies that have reached 100% of their crowdfunding campaign for a minimum amount of $3,750 on the Quebec platform La Ruche since January 1, 2017
- Companies in the pre-start phase, start-up, or growth for less than 2 years
- Companies presenting an executive summary of the business plan showing high potential for viability and profitability
Who is not eligible
Some types of companies that are not eligible for the Fonds ADM / 375 idées grant include:
- Companies majority owned by shareholders outside the age range of 18-40
- Companies with shareholders who are not Canadian citizens, permanent residents, or have a Quebec selection certificate
Eligible expenses
There are eligible expenses for this grant, including:
- Business start-up costs
- Purchase of equipment or supplies
- Marketing and advertising expenses
- Operating expenses for the first few months
Eligible projects & activities
The Fonds ADM / 375 idées grant supports young entrepreneurs in Montréal with financial assistance of $7,500, advantageous interest rates, and repayment conditions. To be eligible, projects must meet criteria such as being majority owned by individuals aged 18-40, having completed a crowdfunding campaign on La Ruche platform, and demonstrating high potential for viability.
- Majority ownership by individuals aged 18-40
- Completion of a crowdfunding campaign on La Ruche platform
- Demonstration of high potential for viability in the business plan summary
Eligible geographic areas
There are specific geographic areas mentioned for this grant. The Fonds ADM / 375 idées grant is available for companies with their head office located in the City of Montréal territory.
- City of Montréal territory
Evaluation & selection criteria
The selection criteria for the Fonds ADM / 375 idées grant are as follows:
- Majority ownership by shareholders between 18 and 40 years old who are Canadian citizens, permanent residents, or hold a Québec selection certificate
- Head office located in the City of Montréal territory
- Reached 100% of crowdfunding campaign on La Ruche platform (minimum $3,750) since January 1, 2017
- In pre-start, start-up, or growth phase for less than 2 years
- Presentation of a 2-3 page executive summary demonstrating high potential for viability and profitability
How to apply
- Step 1: Ensure the company meets the eligibility criteria for the Fonds ADM / 375 idées loan
- Step 2: Prepare an executive summary of the business plan demonstrating viability and profitability
- Step 3: Reach 100% of the crowdfunding campaign goal on La Ruche platform
- Step 4: Submit a request for the loan through the application process