Business Scale-up and Productivity in British Columbia

• Financial statements for the last 2 years
• Business plan
• Forecasted income statements and cash flow
• Written confirmation of funding from all sources
• BSP-specific forms, including the Canadian materials and content form and, if applicable, the technology questionnaire

Who is eligible?

• Incorporated high-growth businesses in British Columbia
• Businesses producing innovative goods, services, or technologies
• Small and medium-sized enterprises with fewer than 500 employees

Who is not eligible

This grant is specifically designed for high-growth businesses in British Columbia and comes with certain restrictions regarding the status and activity of the company. These restrictions ensure alignment with the program's objectives of supporting scalable, innovative enterprises.

Eligible expenses

• Equipment, machinery, and other capital costs
• Wages and benefits
• Marketing
• Intellectual property costs
• Technology development and demonstrations
• Professional services

Ineligible Costs and Activities

• Basic and applied R&D (TRL 1-6)
• Land and buildings
• Salary bonuses and dividends
• Entertainment expenses
• Refinancing of existing debts
• Membership fees and donations

Eligible geographic areas

• British Columbia

• Applications are reviewed through a due diligence and decision-making process.
• Funding decisions are typically provided within about 90 business days after a complete application is received.
• Selected projects may undergo a technical assessment by NRC-IRAP.
• Approved recipients are reimbursed through claims and must submit progress reports and financial statements during the project.

• Funding is interest-free but must be repaid within six years after project completion.
• A one-year grace period for repayments is provided after project completion, followed by a requirement to make 60 equal monthly payments.
• Interest charges of the average bank rate plus 3% will apply to any late principal payments.
• Applications are handled through a competitive process, requiring demonstration of strong alignment with the program objectives and expected substantial economic benefits.
• Applicants will need to include a business plan and may be subject to a credit check.
• Diverse groups and inclusivity factors such as gender, Indigenous Peoples, and youth participation are considered during the assessment process.
• The program supports the Government of Canada's commitment to inclusive innovation by encouraging applicants to track inclusiveness indicators throughout the project duration.
• Environmental impact compliance may be necessary if projects involve physical works.
• Applicants must be aware of the impact of BSP funding on their eligibility for tax credits like SR&ED, as this can alter total government assistance levels.
• Proposals focusing on clean technology, clean resources, or digital industries have higher prioritization.