INVEST A.I.: a funding program for Artificial Intelligence projects in Québec

Any company, in any business sector, anywhere in the world, tends to evolve towards the use of a new and more efficient technological infrastructure; this change is known as digital transformation and is, to a large extent, anchored to the use of Artificial Intelligence components. Its omission, to do without its application, means being left behind in the competition for a sector of the software development market.

As a consequence of this need to accelerate the internal processes of companies through the integration and adoption of Artificial Intelligence techniques in their operations, the Quebec government has developed a grant program called Invest-AI, which seeks to finance digital transformation projects in this specific area, the design and application of algorithms to solve all kinds of technical, logistical, ethical and administrative needs inherent to all business management.

The opportunity to access the Invest-A.I. program is subject to the financial capacity of the companies, since the project must be executed to recover 50% of the investment of the expenses related to the development of the algorithm, i.e. the eligible expenses.

Eligible activities include, for example, the development or optimization of a process requiring AI; the evaluation of the algorithm serving as a prototype; the development, adaptation and validation of AI-based solutions in-house, i.e. their demonstration; the digitization of data used by AI solutions.

Finally, among the requirements for Quebec entrepreneurs to submit projects to the Invest-AI program are, firstly, the condition that the business model adopted must be a for-profit enterprise, which, in addition, must, at a minimum, works with a company or commercial establishment engaged in the production of goods and services in the city. Second is the use of the developed algorithm in the operations of the company. And, of course, own the intellectual property rights to the product, i.e., retain the moral rights to the algorithm as a condition for the sale of commercial rights.

Written by J. D. Quintero