How much funding can be received?

<p>The Business Scale-up and Productivity (BSP) program by PacifiCan provides interest-free, repayable funding of up to $5 million per project to high-growth businesses in British Columbia, focusing on scaling up and producing innovative goods, services, or technologies. Eligible activities include productivity improvement, business scale-up, and technology commercialization, with special attention to projects demonstrating export orientation and advancements in priority sectors like advanced manufacturing and clean technology.</p>

grant_single_labels|terms_and_conditions

PacifiCan's Business Scale-up and Productivity program provides various financing options for high-growth businesses in British Columbia to aid their scaling efforts. Funding is predominantly reimbursable, designed to match specific project milestones and financial capacities.

Interest-free, repayable funding for eligible businesses up to 50% of project costs.
Funding range is from a minimum of $200,000 to a maximum of $5 million per project.
Cumulative funding up to $10 million available per organization across multiple projects.
Funding is disbursed based on submitted claims for approved eligible project costs.
Reimbursement is for incurred and paid eligible project costs, up to 50%.
Claims can be submitted up to four times a year.
Funding from non-government sources must cover at least 50% of total project costs and be confirmed at the application stage.
Repayment begins after a one-year grace period following project completion, with equal monthly payments over five years.
No interest, and no security or collateral is required for the funding.
Early repayment of the funding has no penalties.

grant_single_labels|projects

The Business Scale-up and Productivity program focuses on amplifying the growth and efficiency of high-growth businesses in British Columbia. Eligible projects include activities that lead to productivity enhancements, scaling operations, and commercialization of technology.

Productivity improvement through acquiring, adapting, and adopting new technologies and processes.
Process re-engineering to enhance manufacturing capacity.
Market development or expansion for business scale-up.
Adoption of best management practices, processes, and systems.
Development of business opportunities to accelerate growth.
Technology commercialization, including late-stage product development and technology demonstration.

grant_single|admissibleProjectsExample

$ 400,000

Expanding organic food production facilities with advanced hydroponic systems

$ 600,000

Developing a new software platform for remote healthcare management

$ 500,000

Implementing new AI systems to enhance productivity in solar panel manufacturing

$ 850,000

Re-engineering textile manufacturing processes to integrate sustainable practices

$ 750,000

Commercializing a late-stage biodegradable packaging technology

$ 1,000,000

Enhancing manufacturing capacity of eco-friendly building materials

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the applicant's business profile and growth objectives.

The applicant must be a high-growth business that is scaling up and producing innovative goods, services, or technologies.
The business must be incorporated to conduct business in Canada.
The business must have been operating for at least 2 years in Canada.
The business must have staffed operating facilities in British Columbia.
The business must submit evidence of confirmed funding from all other sources, including that non-government funding must represent at least 50% of the project costs.
The business must aim to support or accelerate growth through activities such as productivity improvement, business scale-up, or technology commercialization.
The project must have a maximum duration of 3 years.

grant_eligibility_criteria|who_can_apply

The BSP program is open to incorporated high-growth businesses that have been operating in British Columbia for a minimum of 2 years. Preference may be given to small and medium-sized enterprises (SMEs) with less than 500 full-time employees (FTEs).

grant_eligibility_criteria|who_cannot_apply

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.

grant_eligibility_criteria|eligible_expenses

Eligible expenses for the BSP grant encompass costs that are incremental and essential to the proposed project.

Capital costs such as equipment and machinery.
Labour expenses, including wages and benefits.
Marketing costs.
Costs related to intellectual property.
Technology development and commercial demonstrations.
Costs for professional, advisory, and technical services.

grant_eligibility_criteria|zone

This grant is available to businesses located in a specific geographical area to support regional development efforts. The eligible location is targeted to promote economic growth and innovation within the specified region.

Businesses with staffed operating facilities in British Columbia, Canada.

grant_single_labels|criteria

The evaluation and selection of projects for the Business Scale-up and Productivity (BSP) program are based on specific areas to ensure alignment with PacifiCan’s objectives and strategic priorities.

Alignment with BSP objectives and agency priority areas.
Market potential of the proposed project.
Capability of the management team to execute the project.
Applicant’s financial capacity and ability to repay the funds.
Economic benefits and outcomes, including job creation and revenue growth.
Technology readiness, applicable specifically to technology commercialization projects.

grant_single_labels|register

Step 1: Check Eligibility
Ensure your business is an incorporated high-growth business operating in British Columbia for a minimum of 2 years.
Verify that your project aligns with the BSP program's focus areas such as export orientation, advanced manufacturing, or clean technology.
Confirm that you have necessary funding from non-government sources covering at least 50% of the proposed project costs.
Step 2: Prepare Mandatory Documents
Compile financial statements for the past 2 years, and interim financial statements for the last 6-month period.
Draft a business plan highlighting the project, your company, and its management team.
Gather evidence of confirmed funding from all sources, including official letters of funding and relevant bank statements.
Step 3: Prepare Expression of Interest (EOI)
Draft an EOI using the guidelines provided in the BSP EOI Help Guide.
Ensure that the project meets the criteria for high-growth and productivity improvement, business scale-up, or technology commercialization.
Step 4: Submit Expression of Interest
Access the application portal to submit your EOI along with all mandatory documents.
Ensure submission is complete before the intake period closes.
Step 5: Await Invitation to Apply
Monitor the application portal for updates on your EOI status.
If your EOI is successful, prepare to complete a full application.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The maximum project duration is 3 years.
Preference is given to proposals with a demonstrated focus on export orientation, advanced manufacturing, clean resources, clean technology, digital industries, health/bio-sciences, natural resources value-added processing, ocean technology, and value-added agriculture/agritech.
Applicants must report on efforts to support inclusiveness, including the economic participation of Indigenous people, women, and youth.
Following the submission of an Expression of Interest (EOI), selected companies will be invited to submit a full application for a detailed assessment.
Funding decisions are communicated approximately 90 business days after receiving a complete application.
Funding requires no security or collateral, is interest-free, and early repayment incurs no penalty.
The program encourages reporting on job creation and revenue growth as part of the expected results.
Applicants are advised that SR&ED credits or other similar tax credits may affect the funding level due to government assistance caps.
Regular updates and additional documents may be requested during the assessment process.