How to Secure Funding for Your AI Project

Incorporating Artificial Intelligence (AI) into your business takes more than a good strategy and a skilled team; it takes money. But don’t worry—there are plenty of financial resources for businesses that want to digitally transform their organizations with AI, which organizations could use to hire a talented AI team like Pipemind. That is why Pipemind has compiled a list of AI funding opportunities below. The list below focuses on opportunities for Quebec businesses, although it may also be helpful for those in other regions.

Funding	Description
Financial support for technology innovation through NRC IRAP	Get a non-repayable contribution to develop, adopt or adapt new or improved technologies at any stage of innovation. 75% cost up to $10M
Funding for product and process innovations in Quebec	Get up to $350,000 to cover 75% of the costs of project planning, R&D, technology validation and technological showcase activities relating to the development of innovative products or processes.
Local investment funds	Financial assistance helps support the realization of investment projects aimed at: improving productivity; accelerating digital transformation; the implementation of sustainable organizational practices.
Other Resources for AI funding	This website provides information and resources specific to funding opportunities for AI companies in Quebec
Partenar-IA	The PARTENAR-IA Innovation in artificial intelligence for businesses funding program is aimed at consortia of Quebec companies that have collaborative research projects in artificial intelligence with other Quebec SMEs (ex/ Pipemind), in collaboration with a public research center. Management fees: 5% of eligible expenses Financial aid max: $350,000 per eligible partner company, for a maximum of $1.5 million per project (including management fees).
Support vouchers towards growth	50% (max $25K) to assist businesses in Quebec City to benefit from advisory services related to the strategic challenges of the business at various stages of its development
Productivity Innovation Financing	term loan of $50K for planning and implementation of innovative projects
Productivity and Automation	50% (max $250K) to support businesses in Quebec City in improving their productivity and addressing their labor shortage through the use of advanced technology
Scale AI	Programs certified by the Scale AI Accelerate program can receive up to $50,000 in the form of reimbursement of eligible costs per startup or SME that designs applied AI products and services for supply chains.
Scale AI Talent	When an organization adopts new artificial intelligence tools, it must upskill its team accordingly. Scale AI provides grants that fund the costs for selected organizations to train their teams through bespoke digital intelligence programs. Take advantage of financial resources to perfect digital intelligence skills with funding of up to 50% of costs for tailor-made training in the field.
Invest AI	50% (max $1M) to support any project aiming to deploy AI solutions
Partner-IA	50% (max $1.5M) to support SMEs and startups in the development, commercialization, and adoption of AI
SME PIIA	30% to 50% (max $350K) to highlight collaborative research in artificial intelligence
R&D Tax Credit	30% in provincial tax credit for eligible R&D expenditures
https://www.plugandplaytechcenter.com/startups/	Accelerator, once we have an MVP

Pipemind is your go-to partner for AI transformation. Our focus is on developing custom AI applications that align with your business objectives. We guide your projects from concept to implementation, ensuring that you get exactly what you pay for. AI can help your business gain a competitive advantage and improve operational efficiencies. Connect with us by booking a free 30-min consultation to learn how AI can transform your business.