Closed
PacifiCan Business Acceleration Pilot (BizAP)
Business scale-up support for BC organizations
Record updated
- Funding available
- $ 5,000,000
- Up to 50% of project cost
- Deadline
- Unspecified
- Location
- British Columbia, Canada
Overview
PacifiCan supports not-for-profit and for-profit organizations in British Columbia that help high-growth-potential businesses scale up. Eligible activities include capital attraction, mentoring and networking, market assessment and development, with funding over up to three years.
At a glance
Funding available
- Maximum funding
- $5,000,000
- Maximum share of project costs
- 50%
- Develop strategic partnerships
- Develop a new program or service
- Enhance an existing program
- Improve governance or administrative structure
- Strengthen organizational capacity
- Access new markets
- Ensure financial sustainability
Eligible candidates
- Location
- British Columbia
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- Indigenous Peoples
- Rural or Northern Residents
- Startups
- Legal structures
- Non-profit
Non-profit candidates
- Sector of operation
- Higher Education, Economic, Social and Community Development, Business Associations
- Target groups
- Indigenous peoples, Rural / Remote communities, Business owners / entrepreneurs
- Scope
- Municipal, Regional, Provincial
Receipt of requests is now closed
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Availability timeline
2024
Periods: 1
Eligibility
Who is eligible?
- Not-for-profit organizations
- For-profit organizations
- Business accelerators
- Angel networks
- Indigenous organizations, including Indigenous-led not-for-profit organizations and Indigenous-owned businesses
- Industry associations
- Municipalities and other municipal-type organizations
- Post-secondary educational institutions
- Social enterprises
- Groups or consortia of eligible recipients
Who is not eligible
- New venture creation and early-stage incubation activities
Eligible expenses
- Capital costs, including equipment and machinery
- Labour costs, including wages and benefits
- Operating costs directly related to the project, such as management fees
- Consultancy fees for professional, advisory, and technical services
- Production and distribution of promotional material and management tools
- Costs related to specialized services such as testing, research and development, technical or innovation services, sector development strategies, and business networking
Ineligible Costs and Activities
- Refinancing of an existing debt
- Purchase of assets for more than fair market value
- Costs of amortization
- Land acquisition
- Hospitality and other related costs
- Sole-sourced consultant fees
- Fees related to advocacy work
- Costs incurred before the Project Funding Start Date
Activities funded
- Private capital attraction activities
- Coaching, mentoring, and networking activities
- Market assessment and development activities
- Customer acquisition and retention activities
- Business strategy, technology strategy, and IP strategy activities
How to apply
- Complete the expression of interest form during the intake period.
- Describe the project purpose, rationale, eligibility, activities, and budget.
- Submit the expression of interest through the online portal.
- If selected, submit a more detailed full application through the online portal.
Documents Needed
- Expression of Interest form
- Project description and rationale
- Project activities and budget
- Financial statements
- Proof of other funding sources
Selection criteria
- Value for money
- Participant business selection
- Capital attraction activities
- Market activities
- Mentoring and networking activities
- Participant accountability
- Inclusive economic growth
- Management capacity
- Financial capacity
Processing and Agreement
- EOIs are assessed competitively against the objectives and parameters of the initiative and against other proposals.
- Only the strongest EOIs are invited to the second stage.
- Selected organizations are asked to submit a more detailed full application for further review.
- PacifiCan provides a funding decision within 90 business days (90% of the time) of receiving a complete funding proposal.
- Successful applicants sign a standard Contribution Agreement with PacifiCan.
Additional information
- The program is currently not accepting applications.
- Successful applicants will sign a standard Contribution Agreement with PacifiCan.
- Projects can run for up to three years.
Contacts
Official sources
Frequently Asked Questions about the PacifiCan Business Acceleration Pilot (BizAP) Program
What is the PacifiCan Business Acceleration Pilot (BizAP)?
PacifiCan supports not-for-profit and for-profit organizations in British Columbia that help high-growth-potential businesses scale up. Eligible activities include capital attraction, mentoring and networking, market assessment and development, with funding over up to three years.
How much funding can be received?
PacifiCan Business Acceleration Pilot (BizAP) Funds up to 50% of admissible expenses, capped at $5,000,000 per project.
Who is eligible for the PacifiCan Business Acceleration Pilot (BizAP) program?
To be eligible for the PacifiCan Business Acceleration Pilot (BizAP) program, you must:
Legal entity capable of binding agreements
Supports business scale-up
Targets high-growth-potential businesses
What expenses are eligible under PacifiCan Business Acceleration Pilot (BizAP)?
Capital costs, including equipment and machinery
Labour costs, including wages and benefits
Operating costs directly related to the project, such as management fees
Consultancy fees for professional, advisory, and technical services
Production and distribution of promotional material and management tools
Costs related to specialized services such as testing, research and development, technical or innovation services, sector development strategies, and business networking
Who can I contact for more information about the PacifiCan Business Acceleration Pilot (BizAP)?
You can contact Pacific Economic Development Canada (PacifiCan) by email at info@pacifican.gc.ca or by phone at 1-888-338-9378.
Where is the PacifiCan Business Acceleration Pilot (BizAP) available?
The PacifiCan Business Acceleration Pilot (BizAP) program is available the province of British Columbia.
Is the PacifiCan Business Acceleration Pilot (BizAP) a grant, loan, or tax credit?
PacifiCan Business Acceleration Pilot (BizAP) is a Grant and Funding