Community funds, an innovation competition and business development for entrepreneurs are all on the list of initiatives being backed by Desjardins Group as part of its strategy to help the economy and support regional development in the coming months.

Although it was scarce on details, the cooperative financial group says it is also launching a strategy to reboot its own business activities, as well.

Publically, Desjardins announced that the $150-million budget behind its GoodSpark Fund will be invested in initiatives, into 2024, which stimulate social and economic activity in Quebec and Ontario. The fund will provide financial support to community initiatives which impact employment, economic vitality, education and the environment. In the coming months, members and clients will also be invited to participate and promote key initiatives in their own communities.

Next, the company’s Momentum Fund, with a budget of $10-million, will aim to help local businesses accelerate growth and create jobs. The fund will provide funding equal to 25 per cent of project costs, to a maximum of $10,000, to businesses in a wide range of categories. Businesses can contact one of the company’s business centres to apply.

Those with post-pandemic socio-economic solutions in mind, meanwhile, can compete in a challenge for Quebecers, running between May 1 and June 2. The post COVID challenge (details at www.post-covid.ca) is a partnership between the company, Google and Bonjour Startup Montréal.  Desjardins in particular is asking participants to create a solution that combines technology support for seniors and innovation.

In a separate partnership with crowdfunding platform, La Ruche Quebec, meanwhile, Desjardins is also providing a $1-million budget to donate equivalent amounts, up to $25,000, when people buy gift certificates for local stores or make donations to fundraising campaigns.

Finally, Desjardins announced it is launching a 12-week French-language course, S'équiper pour rebondir (Preparing your business to bounce back), that will teach participants how to turn the economic shutdown into an opportunity to develop personal and organizational skills to take on the challenges they’re currently facing. Desjardins business members and clients receive $100 off the $450 course fees.

“Community initiatives are often the best plan of action against difficult situations like the COVID-19 crisis,” says Desjardins Group president and CEO, Guy Cormier. “They need our support now more than ever, whether it’s to get organizations and businesses back on their feet, jump on new development opportunities or create new partnerships.”