How much funding can be received?

<p>The Boost Your Business Technology grant provides Canadian SMEs with support to adopt new technologies with a purpose to increase competitiveness and resilience, including the option to receive wage subsidies of up to $7,300 per eligible youth for the implementation of a Digital Adoption Plan. Eligible activities include enhancing online presence, boosting e-commerce capabilities, and digitalizing business operations.</p>

grant_single_labels|terms_and_conditions

This grant facilitates financial support for employing youth as part of implementing a business's Digital Adoption Plan, offering a structured wage subsidy model. These modalities are designed to promote youth employment and ensure successful technology adoption.

Magnet Wage Subsidies: Opportunity to hire one or multiple youths to support the implementation of the Digital Adoption Plan.
Businesses can receive multiple wage subsidies of up to $7,300 per eligible youth through the funded work placement.
BDC Loan: Access to a 0% interest loan of up to $100,000 from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology.

grant_single_labels|projects

This grant supports the hiring of youth to implement new technology and strategies in Canadian small and medium-sized enterprises (SMEs). The eligible activities focus on leveraging young talent to enhance digital operations within businesses.

Hiring youths to support the implementation of digital transformation strategies.
Utilizing wage subsidies to enhance e-commerce capabilities and business digitalization.
Facilitating the deployment of technologies identified in the Digital Adoption Plan.

grant_single|admissibleProjectsExample

$ 7,300

Developing a fully-integrated digital booking system for yoga studios

$ 7,300

Enhancing cybersecurity measures for confidential data protection

$ 7,300

Enhancing digital capabilities for local arts and crafts market

$ 7,300

Optimizing e-commerce platform for local artisanal products

$ 7,300

Developing an analytics tool for customer behavior on e-commerce sites

$ 7,000

Implementing digital marketing strategies for organic food products

grant_single_labels|admissibility

Eligibility for the wage subsidy under the Boost Your Business Technology grant is dependent on the company's completion and approval of a Digital Adoption Plan.

The business must have a completed Digital Adoption Plan approved and paid by Innovation, Science and Economic Development Canada (ISED).
The business must be looking to implement their Digital Adoption Plan with Magnet wage subsidies.

grant_eligibility_criteria|who_can_apply

Canadian-owned small and medium-sized enterprises (SMEs) that have completed a Digital Adoption Plan approved and paid by Innovation, Science and Economic Development Canada (ISED) can apply for the wage subsidy component of the CDAP Boost Your Business Technology grant. Eligible businesses can access wage subsidies to hire youths aged 18-30 who are Canadian citizens, permanent residents, or refugees with the right to work in Canada.

grant_eligibility_criteria|eligible_expenses

This grant assists businesses in advancing their technological capabilities to enhance their online presence and operational efficiency. The eligible activities revolve around technology adoption, e-commerce enhancement, and digital transformation.

Digitalization of business operations to enhance efficiency and competitiveness.
Development and enhancement of e-commerce platforms to boost sales and market reach.
Implementation of new technology solutions in line with a Digital Adoption Plan approved by ISED.

grant_eligibility_criteria|zone

This program is available to Canadian-owned small and medium-sized enterprises (SMEs). The funding is targeted to assist businesses across Canada in adopting digital technologies.

All provinces and territories in Canada.
Urban and rural areas across Canada.

grant_single_labels|criteria

Yes, there are evaluation and selection criteria for the CDAP Wage Subsidy grant. The following are the criteria to be considered for eligibility and selection:

The candidate should be between 18 and 30 years old.
They must be Canadian citizens, permanent residents, or refugees allowed to work in Canada.
The young person should not have already participated in a CDAP Boost Your Business Technology Work Placement. However, they can have been part of the Grow Your Business Online program.
Businesses should have a valid CDAP grant agreement and submit their reimbursement claim upon completing their Digital Plan.

grant_single_labels|register

Here are the steps to apply for the wage subsidy under the CDAP Boost Your Business Technology grant:

Step 1: Verify Eligibility
Ensure your business has a completed and paid Digital Adoption Plan approved by ISED.
Confirm that you are applying for a wage subsidy under the guidelines provided.
Step 2: Prepare Application
Prepare and compile any necessary documentation to support your wage subsidy application.
Gather information about the youths you wish to hire, ensuring they meet the eligibility criteria.
Step 3: Submit Application
Contact Magnet at boostyourbusiness@magnetnetwork.ca for guidance on the application process.
Follow the instructions provided to complete and submit your wage subsidy application.
Step 4: Await Confirmation
Monitor your email for confirmation of your application submission from Magnet.
Keep a record of all correspondence and confirmation for your records.

grant_single_labels|otherInfo

The CDAP Wage Subsidy varies in its application timelines and eligibility criteria. Businesses must ensure compliance with several guidelines to secure the subsidy.

The employment period must span a minimum of 12 weeks and a maximum of 24 weeks.
The subsidy covers up to 75% of the wages for eligible hires, with a maximum of $7,300 per employee.
Eligible hires must be between the ages of 18 and 30 and be Canadian citizens, permanent residents, or refugees allowed to work in Canada.
Businesses can offer both full-time and part-time positions to qualify for the subsidy.
There is no previous employee participation restriction in the Grow Your Business Online program.
The requirement for hires to be students or recent graduates has been removed, expanding the pool of eligible candidates.
The 450-hour minimum mandate to receive the subsidy has been eliminated, offering more flexible employment arrangements.
Businesses are no longer limited to hiring only one new employee under the program.