The Innovation Fund for Governance and Management of Collective Enterprises
THE INNOGEC FUND SEEKS ACCESSIBILITY TO MANAGEMENT AND GOVERNANCE CONSULTING SERVICES.
The Innovative Fund for the Governance and Management of Collective Enterprises, the INNOGEC Fund, aims to make professional management consulting and governance services accessible by contributing to the payment of professional fees for consulting and advisory services of these companies. The Fund was created thanks to the financial contribution of the MEI, Fondaction, Filaction and the Caisse d’économie solidaire.
The INNOGEC Fund takes the form of a non-repayable contribution to the companies that will use this contribution to finance external advisers for support interventions. The services covered by the initiative are broad, covering strategic planning, business plan, organizational diagnosis, and market research and communication activities. Any relevant intervention adapted to the challenges of the company can be financed. The Fund targets one-time operations for the development of user enterprises. These interventions can support a request for funding from partner organizations, as well as any other reinforcement and development measure.
The INNOGEC Fund aims to act as a complement to the companies’ own capacity. It provides donation support worth up to 40% of the fees of an intervention. The funds are granted according to the following criteria: the collective nature of the company, the relevance of its project, the expected social impact, the demonstration of the capacity to complete the total financing, the impact of the project on the development of the business. The INNOGEC Fund wishes to support, through its resources, global interventions of a value of $ 350,000 to $ 500,000, thus providing Québec’s social economy with new funding leverage. The Fund has been renewed until 31 March 2019. The INNOGEC Fund has received support from the Ministry of the Economy, Science and Innovation for 50% of its funding. Supported projects can:
- Support the formulation of new collective enterprise projects in a form that will facilitate their acceptance and support through the financing network;
- Support the formulation and implementation of established business development strategies;
- Contribute to the implementation of solutions for companies that have the potential to be healthy, but encounter difficulties;
- Contribute to the development of management capabilities through analytical, diagnostic and planning interventions;
- Offer content, tools and knowledge in order to improve their autonomy and support the improvement of their performance;
- Financial assistance granted per project can not exceed $ 15,000;
Government assistance in all its forms can not exceed 80% of the total cost of an intervention.
OBJECTIVE OF THE PROJECT
Offer Quebec social enterprises financial assistance so that they can have access to high quality technical assistance to structure their projects or implement one or more best business practices in their organization.
The project is aimed at Quebec social enterprises from all sectors, whether they are co-operatives or non-profit organizations, forming part of the social economy, or to the promoter groups wishing to set up such a business.
Projects eligible for INNOGEC funding are, but not limited to, interventions of the following nature:
- Analysis of production costs of services;
- Financial analysis;
- Development of new services;
- Business diagnosis;
- Market research and development of new markets;
- Costing exercise (implementation or update);
- Human Resource Management;
- Organization and process;
- Business plan;
- Marketing plan;
- Strategic planning;
- Engineering / architectural services;
- Web strategy and social media;
PURPOSE OF THE PROJECT
The project represents a significant step forward in providing high quality management and governance technical expertise for social economy enterprises. This helps support the creation, recovery and development of this type of business. It will have a clear contribution to the development of the social economy in Quebec in proportion to the financial effort made by its contributors.
CONDITIONS OF ELIGIBILITY
- The enterprise must be a social enterprise, incorporated as a cooperative or non-profit organization with a commercial activity;
- The project consists of a limited intervention on a strategic function of the company or to support it in an important phase of its development;
- The project mainly involves the payment of professional fees made by a specialized organization. Salaries of employees of the company or acquisition of capital assets are not eligible expenses;
- The application of the company must be supported by a partner of the Fund or a local development support organization (eg CDEC, CDR, SADC, PME MTL, CLD, Social Economy Pole, etc.);
- Consulting services must be offered by a social economy enterprise recognized for its expertise and the quality of its services. In the event that services are not available in the social economy, the services offered by a private consultant could exceptionally be eligible *;
- The company must demonstrate the availability of additional financial resources to complete the financial package of the project;
- The company must complete the application form and submit supporting documents to their project.
The INNOGEC Fund will not automatically finance a project that meets all the eligibility conditions. A project selection committee makes decisions on compliance with these conditions and on the actual contribution of the project to the development of the applicant company and the social, cultural or economic impact of the business project. The INNOGEC Fund, with limited capacity, reserves the right to decline compliant applications. The INNOGEC Fund can act in complementarity with other technical assistance funding measures.
* Firms receiving government financial support for this type of intervention are excluded from the program as a supplier.
SUBMITTING THE APPLICATION
You must include the following in your application:
- INNOGEC application form *
- Constitutional status;
- Financial statements;
- List of the members of the board of directors;
- Professional service offer;
- Letter of support;
- Additional information on impact indicators;
- Other documents deemed relevant to the study of the file.
* Please note that the application form is mandatory. Applications received without a form will not be considered.SUBMIT THE APPLICATION
You can submit your projects before one of the following three deadlines:
- December 2, 2018
- February 3, 2019
- March 31, 2019
For more information, please contact Pauline Boinot at 514-525-2042 ext. 1127