How much funding can be received?

The Boost Your Business Technology grant provides support to Canadian-owned small and medium-sized enterprises (SMEs) to adopt new technologies, enhancing their competitiveness and resilience. Eligible activities include getting online, boosting e-commerce presence, and digitalizing business operations. Additionally, businesses can access wage subsidies up to $7,300 to hire youths.

grant_single_labels|projects

Activities eligible for this grant include hiring skilled individuals to implement a digital adoption plan, which could cover a range of tasks aimed at enhancing a business's digital presence and marketing capabilities.

Hiring skilled individuals for digital transformation
Implementing digital marketing strategies
Developing and enhancing online presence
Improving digital tools and technologies
Engaging in digital advertising
Enhancing e-commerce capabilities
Utilizing data analytics for business growth
Strengthening cybersecurity measures

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

The eligible geographic zones for the CDAP Wage Subsidy are primarily within Canada. This includes all provinces and territories.

Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland and Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Saskatchewan
Northwest Territories
Nunavut
Yukon

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.

grant_single_labels|contact

boostyourbusiness@magnetnetwork.ca

Apply to this program

Boost Your Business Technology Grant Overview

The Boost Your Business Technology grant is an initiative aimed at Canadian SMEs, offering financial assistance to enhance digital technologies to improve competitiveness. While direct applications for the grant closed as of February 19, 2024, recipients can still access wage subsidies to support youth employment related to digital adoption.

Understanding the Impact and Benefits of the Boost Your Business Technology Grant

The "Boost Your Business Technology" grant is a pivotal part of the Canada Digital Adoption Program targeted at enhancing the technological landscape of small and medium-sized enterprises across Canada. By encouraging the integration of new technologies, this grant serves as a catalyst for business processes modernization, elevating both competitiveness and operational resilience within the Canadian marketplace. Even though direct grant applications have ceased, firms holding a validated Digital Adoption Plan from Innovation, Science and Economic Development (ISED) remain eligible to pursue a wage subsidy avenue.

This program uniquely combines financial incentives with strategic workforce development, thereby facilitating businesses to harness young talent for digital innovation tasks. Eligible companies can recruit young Canadians—defined as individuals aged 18-30 who possess the legal right to work in Canada—through the Magnet network, benefiting from wage subsidies of up to $7,300 per eligible youth. These subsidies not only help in scaling digital projects but also play a significant role in creating employment opportunities for youth in technology-driven roles.

Moreover, the participants of the Boost Your Business Technology grant also have access to a 0% interest loan from the Business Development Bank of Canada (BDC), aimed at furthering the technological investments of up to $100,000. This dual offering of subsidies and low-interest loans creates an ecosystem where SMEs can pursue comprehensive digital transformation projects that align with their strategic business objectives, without the immediate financial burden often associated with technological upgrades.

These subsidies and loans support various areas, including enhancing e-commerce capabilities, optimizing operational software, and implementing advanced data management systems. The goal is not just to incrementally improve but to transform how SMEs operate in a progressively digital economy. By focusing on empowering Canadians through digital skills and innovations, the Boost Your Business Technology grant underscores the broader Canadian agenda of nurturing a robust, digitally adept workforce, ready to meet the demands of modern economies.

Essentially, the partnerships forged through the Boost Your Business Technology initiatives extend beyond financial interactions. Participating SMEs can connect with a wider network of businesses, educational bodies, and tech providers, creating synergies that facilitate knowledge sharing and innovation. The influx of technology into traditional business models is vital, building digital resiliency and ensuring that Canadian businesses can withstand technological disruptions.

Such grants are instrumental for long-term economic development, encouraging SMEs throughout the nation to adopt cutting-edge technologies. This not only augments performance but also increases their market competitiveness domestically and internationally. By facilitating access to crucial digital tools, the program ensures that Canadian enterprises are not left behind in the global digital revolution.

While the upfront grant applications have concluded, the void is partly filled by the provision of continued support in the form of wage subsidies and interest-free loans, creating a legacy of ongoing digital capability enhancement. This continued support ensures ongoing engagement with digital shift trends, creating a ripple effect in communities through economic empowerment and digital literacy advancements.

Overall, the Boost Your Business Technology grant stands as a testament to the commitment of the Canadian government towards technological advancement and economic resilience in its business sector. It symbolizes a step towards bridging the gap between current technological capacities and future necessities, ensuring that SMEs thrive in an increasingly competitive global arena.