Business Scale-up and Productivity in British Columbia
BC, Canada
The Business Scale-up and Productivity (BSP) program supports high-growth businesses in British Columbia with interest-free, repayable funding to accelerate growth and innovation.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateSeptember 22, 2023
- grant_single|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Mining, quarrying, and oil and gas extraction
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- Government of Canada
- Pacific Economic Development Canada
grant_single|status
grant_card_status|closed
grant_single_labels|preview
The Business Scale-up and Productivity (BSP) program by PacifiCan supports high-growth businesses in British Columbia that are scaling up and producing innovative goods, services, or technologies. The program offers interest-free, repayable funding for activities such as productivity improvement, market development or expansion, and late-stage technology commercialization. Eligible businesses must be incorporated, have operated for at least two years, and confirm at least 50% of project funding from non-government sources.
grant_single_labels|projects
This program is designed for businesses that are primarily located in British Columbia, as it aims to bolster economic development in this region. Eligible companies should have operational facilities in British Columbia.
- British Columbia, Canada
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 criteria related to the business's growth potential, operations, and financial backing.
- The business must be a high-growth enterprise that is scaling up and producing innovative goods, services, or technologies.
- The business must be incorporated to do business in Canada and have been operating for at least 2 years.
- The business must have staffed operating facilities located in British Columbia.
- At the time of expression of interest submission, the business must provide evidence of confirmed funding from all sources, ensuring that non-government funding represents at least 50% of the proposed project costs.
- The business must seek to support or accelerate growth through activities such as productivity improvement, business scale-up, or technology commercialization with a maximum project duration of 3 years.
grant_eligibility_criteria|who_can_apply
The Business Scale-up and Productivity (BSP) program is open to incorporated businesses in British Columbia that meet specific criteria focused on high growth and innovation. Eligible businesses must be incorporated to do business in Canada, have been operating in British Columbia for a minimum of two years, and demonstrate consistent and significant revenue growth, typically at least 20% year-over-year. Preference is given to small and medium-sized enterprises with less than 500 full-time employees. To apply, businesses must be scaling up or producing innovative goods, services, or technologies and have confirmation of funding from non-government sources representing at least 50% of the proposed project costs. Further eligibility considerations include detailed plans for productivity improvement, business scale-up, or technology commercialization, with projects having a maximum duration of three years.
grant_eligibility_criteria|who_cannot_apply
The provided context does not mention any specific types of companies that are not eligible for the grant. The eligibility criteria focus on high-growth businesses in British Columbia, but no explicit exclusions are noted.
grant_eligibility_criteria|eligible_expenses
The eligible projects for the Business Scale-up and Productivity program aim to accelerate growth of high-growth businesses through productivity improvements, business scale-up processes, and technology commercialization. These activities are structured to enhance business capabilities, expand markets, and demonstrate technological advancements.
- Acquiring, adapting, and/or adopting new technologies and processes for productivity improvement including process re-engineering and enhancing manufacturing capacity.
- Market development or expansion, implementing best management practices, processes and systems, and business opportunity development for business scale-up.
- Late stage product development to diversify markets and technology demonstration activities at advanced technology readiness levels for technology commercialization.
grant_eligibility_criteria|zone
Up to 50% of eligible project costs may be requested from PacifiCan, covering expenses essential to the project's success.
- Capital costs, including equipment and machinery.
- Labour costs, encompassing wages and benefits.
- Marketing expenses related to the project.
- Costs associated with intellectual property.
- Technology development and commercial demonstrations.
- Professional, advisory, and technical services.
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: Review BSP EOI Help Guide
- Thoroughly read the BSP EOI Help Guide to understand the application requirements and guidelines.
- Bookmark or download the help guide for reference.
- Step 2: Gather Mandatory Documents
- Compile financial statements for the past 2 years and interim financial statements for the last 6 months.
- Prepare a business plan that details your high-growth potential, project description, and company management team.
- Collect confirmation of funding from other sources, including bank statements or funding agreements.
- Step 3: Prepare Expression of Interest (EOI)
- Outline your project goals and alignment with PacifiCan's objectives.
- Ensure you have evidence of confirmed funding, which must be non-government sources constituting at least 50% of total project costs.
- Step 4: Submit Expression of Interest
- Submit your completed EOI along with all required documents by the deadline via the PacifiCan application portal.
- Only one EOI submission is allowed per business, per intake.
- Step 5: Await Feedback and Invitation
- Monitor the application portal for updates on your EOI status.
- Await potential invitation to submit a full application if your EOI meets program objectives and criteria.
grant_single_labels|otherInfo
The grant provides interest-free, repayable funding to high-growth businesses in British Columbia, with a focus on innovation and economic benefits. It supports activities such as productivity improvement, business scale-up, and technology commercialization.
- Expressions of Interest (EOI) submission period: July 14, 2023, to September 22, 2023.
- Mandatory criteria include incorporation in Canada, at least two years of operation, and staffed facilities in British Columbia.
- Funding from PacifiCan can cover up to 50% of eligible project costs, with a minimum project cost of $200,000 and a maximum of $5 million per project.
- PacifiCan will only accept 1 EOI per business per intake, with a project start date of April 1, 2024, unless otherwise specified.
- Eligible costs include capital costs, labour, marketing, intellectual property, technology development, and professional services.
- Ineligible costs include basic R&D, land and buildings, salary bonuses, entertainment, refinancing, and amortization.
- Funding decisions are made within 90 business days after a complete application is submitted.
- A technical assessment may be conducted by NRC-IRAP for projects using novel technology.
- Repayment terms include a 1-year grace period followed by equal monthly payments over 5 years, interest-free.
grant_single_labels|contact
info@pacifican.gc.ca
1-888-338-9378
Apply to this program
Business Scale-Up and Productivity Program in British Columbia
The Business Scale-up and Productivity (BSP) program, administered by Pacific Economic Development Canada (PacifiCan), provides interest-free, repayable funding to high-growth businesses in British Columbia, fostering innovation and economic growth. This initiative supports sectors where British Columbia can lead domestically and internationally, targeting high-growth businesses that produce innovative goods, services, or technologies.
Comprehensive Overview of the BSP Program and Its Strategic Importance
The Business Scale-up and Productivity (BSP) program stands as a crucial pillar in PacifiCan’s mission to propel British Columbia to the forefront of national and international economic stages. Designed to stimulate business growth and industry competitiveness, BSP directs its resources towards high-growth businesses across British Columbia, which have shown a consistent uptick in revenue and innovation.
Eligibility for the BSP program centers on companies that have been incorporated in Canada, with a solid operational track record of at least two years in British Columbia. The focus primarily falls on small and medium-sized enterprises (SMEs), with a workforce of less than 500 full-time employees, although exceptions may apply based on the innovative potential and growth trajectory of larger companies. The program is structured to offer financial support to firms that have demonstrated substantial and consistent growth, ideally a 20% increase in revenue year-over-year.
BSP supports key areas such as productivity improvement, business scale-up, and technology commercialization. Productivity improvement efforts can involve the adoption and adaptation of novel processes and technologies, re-engineering operations, and boosting manufacturing capacities. The business scale-up activities might include market expansion, adopting best practices, and business opportunity development. Meanwhile, technology commercialization pertains to late-stage product development aimed at market diversification, applying to technologies at levels 7 through 9 of Innovation, Science and Economic Development Canada’s Technology Readiness Levels scale.
In terms of eligible expenditures, the BSP allows for funding up to 50% of project costs, requiring that the other half be secured from non-government sources. This aspect ensures that applicants demonstrate substantial stakeholder investment and reduces the financial burden on public resources. Key eligible costs include capital expenditures such as equipment and technology necessary for productivity and efficiency improvements, labor costs, marketing expenses that support business development, and costs related to intellectual property protection and management.
PacifiCan emphasizes inclusivity and diversity, urging applicants to articulate how their projects foster economic participation from Indigenous groups, women, and youth, aligning with Canada's Inclusive Innovation Agenda. Moreover, preference is given to projects that enhance exports or engage in advanced manufacturing, clean technology, and digital industries, thus integrating other sectors like biotechnologies, renewable resources, digital solutions, and enhanced natural resource processing into the competitive fabric of British Columbia's economy.
The strategic essence of the BSP program lies in its ability to catalyze substantial economic outcomes while ensuring sustainability and inclusivity. Expected results include the creation of both high-quality and general jobs within Canada, measurable revenue growth, and increases in export sales. Successful projects under this program not only benefit from financial aid but also contribute significantly to the overall economic health of British Columbia, fostering clusters of innovation and sustainable industry practices.
To enhance accessibility and strategic alignment, PacifiCan has set a detailed schedule and procedural guideline for Expressions of Interest (EOI). While the current intake is closed, potential applicants are encouraged to prepare comprehensively for upcoming intakes, demonstrating their project’s alignment with the program’s strategic goals, detailed economic benefits, and the readiness level of their technology and management structures.
Concluding, the BSP program by PacifiCan offers a robust framework for empowering high-growth businesses in British Columbia. Through strategic investments, the program enables businesses to capitalize on emerging market opportunities, driving economic growth across varied and crucial sectors, and ultimately ensuring a balanced development that accounts for innovation, sustainability, and societal inclusivity.
