By Émile Audet
May 08, 2024
What is the second phase of the Canadian Digital Adoption Program (CDAP)?
Since the launch of the CDAP government initiative in 2020, many SMEs have benefited from digital consulting and the $2400 grant awarded to develop technologies in business. We're proud to announce that helloDarwin is now an authorized partner for the second phase of the Canadian Digital Adoption Program: Boost Your Business Technology, providing access to a grant of up to $15,000 and interest-free loans of up to $100,000. Learn more about this program, which aims to accelerate Canada's digital transformation, in the following text.
What is it?
The Canadian Digital Adoption Program
The Canadian Digital Adoption Program (CDAP) is a government initiative designed to support businesses in their digital transformation. It offers companies access to training, financing and resources to help them develop in the online world. The first part of the CDAP was aimed at developing online business activities, and offered a grant of up to $2400. This grant was designed to help companies obtain advice on setting up e-commerce. Thanks to this initiative, Canadian companies can make the digital shift and seize the opportunities offered by the online marketplace.
Improve your company's technology
The CDAP program offers a second stream aimed at improving company technologies. helloDarwin, as an authorized agent, supports SMEs in this process. The aim of this component is to optimize the technologies used by these companies, and thus propel them towards success. Various digital projects can be implemented as part of this program. These include reducing overheads, accelerating transactions, responding faster to customer needs, improving inventory management, optimizing supply chain logistics and much more. These projects enable SMEs to improve their efficiency, profitability and competitiveness in the marketplace. Thanks to helloDarwin, companies benefit from personalized support and expert advice to bring these technology projects to fruition. In this way, they can take full advantage of technological advances and the opportunities they offer. The CDAP program is therefore a real opportunity for SMEs wishing to optimize their technologies and carry out an advantageous digital transformation.
The subsidy
This second part of the Canadian Digital Adoption Program offers a considerable subsidy for companies. The program provides access to a 90% subsidized digital transformation plan. The amount of this grant can be up to $15,000 for a complete digital transformation plan defined with the help of consultants.
BDC loan
One of the advantages of this second component of the CDAP is access to 0% interest financing for companies that have drawn up a plan and obtained the grant. This interest-free loan makes it possible to borrow up to $100,000, which can be a great help in developing projects and consolidating business activities. To be eligible for this loan, it is necessary to have developed a Digital Adoption Plan (CDAP) supported by a grant, or to have participated in another program recognized by CDAP. For companies with revenues between $500,000 and $5 million, the loan amount can vary between $25,000 and $50,000. Companies generating revenues of over $5 million can benefit from a loan ranging from $50,000 to $100,000. This BDC initiative encourages companies to invest in digital transformation, in order to remain competitive in the marketplace and increase their growth.
Who can apply?
In order to participate in the CDAP program, the application must be made by the company owner or an authorized administrator. In addition, the company must meet certain eligibility criteria:
- Be Canadian-owned
- For-profit or cooperative
- Have generated more than $500,000 in sales in its last tax return.
- Sell a good or service directly to end consumers.
How do I get involved?
Follow the procedure below to take advantage of the CDAP program.
1. Applying for the subsidy
Before starting the procedure, make sure you meet the eligibility criteria. Once you have done so, go to the Canadian Digital Adoption Program website and click on "Submit an application". Create your account and complete the free digital needs assessment. Then complete your program application by providing the necessary information. Once your eligibility is confirmed, accept the grant agreement. Don't forget to send us an email to let us know you've signed the agreement so we can send you the proposal to sign to start developing the digital adoption plan.
2. Drawing up a digital adoption plan
Once the proposal has been signed, you will be accompanied by one of our digital consultants to draw up a comprehensive action plan based on your digital transformation objectives and capabilities. Once the digital adoption plan has been established, you will then pay for the services and submit the plan on the CDAP website, which will be reimbursed up to 90% by Innovation, Science and Economic Development Canada (ISED).
3. BDC loan application
Once you've received the grant, you can apply for the interest-free BDC loan on the CDAP website. A loan between $25,000 and $50,000 will be granted for companies with sales between $500,000 and $5 million, while companies with revenues over $5 million can receive a loan between $50,000 and $100,000.
Take advantage of the second part of CDAP now
Are you eligible? Start your CDAP journey and make the most of the grant and loan for your digital shift. Don't hesitate to contact us, or visit the program's official website for more information.
Related Tags
CDAP
CDAP 2
Canadia Digital Adoption Program
Boost Your Business Technology grant
Grants
Business aid
article|about_author
Émile Audet
Canadian grants specialist
Working at helloDarwin for some time now, I'm in charge of providing you with the information you need on government aid. Dedicated to helping companies in Quebec and Canada reach their full potential, I write on the helloDarwin blog about the various programs, allowances and funding available to enable organizations to make their digital transformation through access to federal and provincial support.