Conditions of Admissibility
In order to receive a loan from the Fonds YUL / 375 idées, your project must meet certain conditions at the time the application is made.
The project or business must:
- Be majority owned by a majority of shareholders aged 18 to 40 years old who are either Canadian citizens, permanent residents or Certificat de sélection du Québec holders (CSQ);
- Have its head-office located on the Island of Montreal (main address) ;
- At the time of the loan agreement, have successfully completed (100%) their participative fundraising campaign for a minimum amount of $3,750 on the Quebec-based platform La Ruche (campaigns completed as of January 1, 2017 are accepted);
- The business project submitted for the Fonds YUL / 375 idées must be the same as the one presented in the La Ruche’s crowdfunding campaign.
- Be in either the pre-startup (viable project) or start-up phase, and for less than 2 years;
- Is considered, a period of 2 years following the first sale for the product or service referred to in the crowdfunding campaign;
- For the same period, the first sale of a new product or new service for the purpose of expanding a range of existing products and services. The crowdfunding campaign must be directly related to this new product or service.
- Is considered, a legally constituted company at the time of disbursement of the loan (all legal forms are detailed here.
- Present an executive summary of the business plan demonstrating the potential for viability and profitability.
Consultez la Politique d'investissement officielle du Fonds.
The following projects are not admissible for the Fonds YUL / 375 idées and will be refused:
- Projects of a sexual, religious or political nature;
- Projects for bars or nightclubs;
- Student projects, internships or university projects;
- Research and development projects;
- Projects that have been submitted for a second time;
- Projects for which the entrepreneurs do not meet the eligibility requirements;
- Projects for self-employed workers;
- Incomplete applications.