Regional Quantum Initiative in British Columbia
The Regional Quantum Initiative in British Columbia supports the advancement and commercialization of quantum technologies through targeted funding for eligible businesses and not-for-profits.
At a glance
Eligible Funding
- 50% of project cost
Timeline
- Open Date : June 15, 2024
Financing Type
Grant and Funding
Eligible Industries
- Professional, scientific and technical services
Grant Providers
- Government of Canada
- Pacific Economic Development Canada
Status
Open
Overview
The Regional Quantum Initiative in British Columbia, part of Canada's National Quantum Strategy, aims to aid companies and not-for-profit organizations in advancing and commercializing quantum technologies. Eligible activities include productivity improvement, business scale-up, technology commercialization, ecosystem capacity building, and business acceleration and incubation. The program prioritizes clean economic growth and diversity, offering funding up to 50% for businesses and up to 90% for eligible not-for-profit organizations.
Eligibility criteria
Eligible applicants for the Regional Quantum Initiative must be incorporated businesses or not-for-profit organizations in British Columbia aiming to advance and commercialize quantum technologies. Preference is given to SMEs with less than 500 full-time employees.
- For-profit company incorporated to conduct business in Canada
- Have staffed operating facilities in B.C.
- Have funding from all other sources confirmed at the time of application (non-government funds must represent at least 50% of the proposed project costs)
- Eligible not-for-profit organizations include post-secondary educational institutions, business accelerators and incubators, angel networks, and Indigenous organizations.
- All applicants must be legal entities capable of entering into legally binding agreements.
Who is eligible
Yes, there are eligible types of companies for this grant. Priority is given to eligible applicants in British Columbia (B.C.) that are incorporated businesses, including start-ups and early revenue firms, as well as not-for-profit organizations that support quantum businesses.
- For-profit companies incorporated to conduct business in Canada
- Incorporated businesses with staffed operating facilities in B.C.
- Not-for-profit organizations supporting quantum businesses, innovators, and entrepreneurs
- Post-secondary educational institutions
- Business accelerators and incubators
- Angel networks
- Indigenous (First Nations, Inuit, Métis) organizations, including Indigenous-owned businesses and Indigenous-led not-for-profit organizations
- Groups of eligible recipients such as industry associations or consortiums
Who is not eligible
Companies that do not meet the following criteria are not eligible for this grant:
- Do not have staffed operating facilities in B.C.
- Do not have confirmed funding from all other sources, including non-government funds representing at least 50% of the proposed project costs.
- Not incorporated to conduct business in Canada.
- Not-for-profit organizations proposing commercial projects (except under certain conditions).
Eligible expenses
Yes, there are eligible project costs for this grant. These costs include incremental expenses essential to the project's success, such as costs related to labor, capital, and specialized services.
- Cost of labour (e.g. wages and benefits)
- Capital costs (e.g. purchase of machinery or equipment)
- Operating costs directly related to the project (e.g. management fees or working capital)
- Consultancy fees (e.g. professional, advisory and technical services)
- Costs related to intellectual property protection
- Preproduction (e.g. technological development and commercial demonstrations)
- Subcontracting costs
- Production and distribution of promotional material and management tools
- Anticipated cost of maintaining the useful life of an asset for a reasonable period
- Costs related to specialized services (e.g. testing, research and development, technical or innovation services, sector development strategies, and business networking)
Eligible projects & activities
Yes, there are eligible activities for this grant. The eligible activities include productivity improvement, business scale-up, technology commercialization, ecosystem capacity building, and business acceleration and incubation.
- Productivity improvement, which includes:
- Acquiring, adapting and adopting new technologies and processes
- Process re-engineering
- Improving manufacturing capacity
- Business scale-up, which includes:
- Developing or expanding markets
- Adopting best management practices, processes and systems
- Developing business opportunities
- Technology commercialization, which includes:
- Growing and diversifying markets through late stage product development
- Technology showcasing and demonstration (Technology Readiness Levels (TRL) 7-9)
- Ecosystem capacity building, which includes:
- Developing strategic business alliances within a specific sector or cluster
- Identifying barriers to scale-up and productivity enhancement within the sector or cluster through research and analysis
- Developing a strategy to address these barriers
- Business acceleration and incubation, which includes:
- Helping entrepreneurs create and grow their start-up companies by providing advice on how to:
- Create a business plan
- Determine a marketing strategy
- Hire employees, experts and/or mentors
- Advance technology to TRL 7-9
- Deploy specialized equipment
Eligible geographic areas
The eligible geographic zones for this grant are limited to British Columbia (B.C.) in Canada.
- British Columbia, Canada
How to apply
- Step 1: Contact PacifiCan to discuss your potential proposal with one of their business officers. This step is crucial for ensuring your project aligns with the initiative's priorities and requirements.
- Step 2: Prepare and finalize your application. Ensure all required documents are included and that funding from all other sources is confirmed, with non-government funds representing at least 50% of the proposed project costs.
- Step 3: Submit your application. Applications are accepted on a continuous intake basis until the funding is fully allocated.
- Step 4: Await the review of your application. Your application will be evaluated on several criteria including market potential, management capability, financial capacity, economic impacts, technology readiness, and regional priorities.
Apply to this program
Summary of the Regional Quantum Initiative Grant
The Regional Quantum Initiative in British Columbia supports the development and commercialization of quantum technologies by providing financial assistance to businesses and not-for-profit organizations. This initiative aims to transform B.C. into a hub for quantum innovation, fostering economic growth, technological advancement, and global competitiveness.
Detailed Explanation of the Regional Quantum Initiative Grant
The Regional Quantum Initiative (RQI) is a pivotal component of the Government of Canada’s National Quantum Strategy, administered by PacifiCan in British Columbia. This initiative is designed to propel the development and commercialization of quantum technologies within the province, positioning British Columbia (B.C.) as a significant player on the global quantum stage. With applications open until the funding is fully allocated, and projects eligible for support until March 31, 2028, this grant represents a substantial opportunity for businesses and not-for-profit organizations engaged in the quantum sector.
Focus Areas
The RQI focuses on four primary areas of quantum technology:
- Quantum Computing: Enabling advanced computational power far beyond traditional computers, which can revolutionize fields such as cryptography, complex system modeling, and big data analysis.
- Quantum Sensors: Developing sensors with unparalleled precision and sensitivity for applications in various fields, including healthcare, environmental monitoring, and navigation.
- Quantum Communications Technology: Ensuring secure communication channels that leverage the principles of quantum mechanics, potentially making data breaches a thing of the past.
- Quantum Materials: Creating new materials with unique properties that can lead to advancements in areas such as superconductors, semiconductors, and nanotechnology.
Benefits for Canadians
The wide-ranging potential benefits of quantum technologies extend to numerous sectors, helping drive innovation and economic growth. Some of the expected advantages include:
- Healthcare: Enhanced design and delivery mechanisms for new medicines and vaccines, potentially saving countless lives.
- Sustainability: Development of next-generation batteries and greener products that reduce environmental impact and support climate change initiatives.
- Supply Chains: More efficient and secure digital communication and supply chains, ensuring better resource management and reducing the risk of disruptions.
- Climate Change: New approaches and technologies to model, track, and forecast climate change, supporting global and national environmental goals.
Eligible Applicants
The Regional Quantum Initiative focuses on supporting a diverse range of entities engaged in the quantum field. Eligible applicants include:
- Incorporated Businesses: Both start-ups and early-revenue firms that are actively commercializing or adopting quantum technologies. Priority may be given to small and medium-sized enterprises (SMEs) with fewer than 500 full-time employees.
- Not-for-Profit Organizations: Entities that support the growth and development of quantum businesses, such as post-secondary educational institutions, business accelerators and incubators, angel networks, and Indigenous organizations.
- Consortiums: Groups of eligible recipients such as industry associations that can collectively enhance the quantum ecosystem.
All applicants must be legal entities capable of entering into legally binding agreements and must have confirmed funding from all other sources at the time of application. Non-government funds must represent at least 50% of the proposed project costs.
Eligible Activities
The initiative supports a broad scope of activities aimed at enhancing productivity, business scale-up, technology commercialization, and ecosystem capacity building. Eligible activities include:
- Productivity Improvement: Activities that enhance operational efficiency and capacity, such as acquiring new technologies, process re-engineering, and improving manufacturing capacity.
- Business Scale-up: Efforts to expand markets, adopt best management practices, and develop new business opportunities.
- Technology Commercialization: Late-stage product development, technology showcasing and demonstration, focusing on technologies at Technology Readiness Levels (TRL) 7-9.
- Ecosystem Capacity Building: Initiatives that foster strategic business alliances, identify barriers, and develop strategies to address them within the quantum sector.
Eligible Project Costs
The grant covers incremental costs essential to the project's success. Eligible project costs include:
- Labour Costs: Wages and benefits directly related to the project.
- Capital Costs: Purchase of machinery or equipment necessary for the project.
- Operating Costs: Management fees or working capital directly linked to the project.
- Consultancy Fees: Professional, advisory, and technical services essential to the project.
- Intellectual Property Protection: Costs related to securing IP rights.
- Preproduction Costs: Technological development and commercial demonstrations.
- Subcontracting Costs: Engaging specialized services such as testing, research and development, and innovation services.
- Promotional Material Costs: Production and distribution of promotional material and management tools.
- Asset Maintenance: Costs related to maintaining the useful life of key assets.
Ineligible Project Costs
While the grant is comprehensive, certain costs are deemed ineligible for reimbursement. These include:
- Basic and applied R&D (TRL 1-6)
- Land acquisition and goodwill
- Salary bonuses and dividend payments
- Entertainment expenses
- Refinancing existing debts
- Amortization or depreciation of assets
- Purchase of assets for more than fair market value
- Lobbying activities
- Donations, dues, and membership fees
Available Funding and Repayment Terms
The RQI offers different funding mechanisms for businesses and not-for-profit organizations:
- Businesses: Interest-free repayable funding for up to 50% of eligible costs.
- Not-for-Profit Organizations: Non-repayable funding for up to 90% of eligible costs for non-commercial projects. Commercial projects for not-for-profits are usually eligible for repayable funding.
The overall stacking of government funding is limited to 50% of eligible capital costs and 75% of other eligible costs for businesses or commercial projects. Repayable funding has favorable terms, including a 1-year grace period after project completion, followed by equal monthly repayments over five years. No interest or security collateral is required, and there is no penalty for early repayment.
Application Review
Applications are evaluated based on their alignment with the objectives of the Regional Quantum Initiative. The review process considers several factors, including:
- Market potential
- Management capability
- Financial capacity
- Economic impacts (e.g., job creation, revenue growth, export sales growth)
- Technology readiness for commercialization projects
- Alignment with regional priorities
Priority may be given to projects that support clean economic growth, enhance diversity, equity, and inclusion, and transition to environmentally sustainable practices.
How to Apply
Prospective applicants are encouraged to contact PacifiCan to discuss their potential proposal with a business officer. Applications are accepted continuously until the funding is fully allocated. Early engagement with PacifiCan can help ensure that proposals align with the program objectives and increase the chances of securing funding.
By taking advantage of the Regional Quantum Initiative, businesses and not-for-profit organizations in B.C. can significantly contribute to the burgeoning quantum ecosystem. This initiative not only promises to advance technological frontiers but also to drive economic growth and create a competitive edge for Canada in the global market.
For more information, contact PacifiCan directly to explore eligibility, discuss project ideas, and initiate the application process.