How much funding can be received?

The PacifiCan Business Acceleration Pilot (BizAP) is designed to invest in organizations that can help high-growth-potential businesses scale and create quality jobs in British Columbia. Eligible activities include capital attraction, peer and expert mentoring, and market development. The program supports legally recognized entities such as business accelerators, industry associations, and Indigenous organizations.

grant_single_labels|projects

This grant is designed to support the growth of businesses within a specific geographical setting as defined by the fund provider. The focus is on promoting economic development and job creation locally.

Businesses and organizations located in British Columbia, Canada.

grant_single|admissibleProjectsExample

$180,000

Creation of an incubation center for clean energy startups

$64,000

Building a peer mentoring program for women entrepreneurs

$150,000

Developing a venture capital platform for high-growth tech startups

$120,000

Development of innovative market strategies for organic farming

$80,000

Launching a market development initiative for local food producers

$90,000

Establishment of a business mentoring network for Indigenous entrepreneurs

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the applicant's organizational structure and activities aimed at supporting high-growth-potential businesses.

The applicant must be either a not-for-profit or for-profit organization focused on supporting businesses in their scale-up ambitions.
Eligible types of organizations include business accelerators, angel networks, Indigenous organizations (including Indigenous-led nonprofit organizations and Indigenous-owned businesses), industry associations, municipalities, groups or consortia of eligible recipients, post-secondary educational institutions, and social enterprises.
All eligible applicants must be legal entities capable of entering into legally binding agreements.
The proposed activities must address critical scale-up needs such as capital attraction, peer and expert mentoring and networking, and market assessment and development.

grant_eligibility_criteria|who_can_apply

The eligible applicants for the PacifiCan Business Acceleration Pilot (BizAP) include both not-for-profit and for-profit organizations that support businesses in their scale-up efforts. This includes:- Business accelerators- Angel networks- Indigenous organizations, including Indigenous-led not-for-profit organizations and Indigenous-owned businesses- Industry associations- Municipalities and all other municipal-type organizations- Groups or consortia of eligible recipients- Post-secondary educational institutions- Social enterprisesTo participate, these entities must be legal entities capable of entering into legally binding agreements.

grant_eligibility_criteria|eligible_expenses

This grant supports activities that address critical scale-up needs for businesses in British Columbia. These initiatives aim at facilitating access to capital, mentorship, and market development for high-growth-potential enterprises.

Capital attraction to assist businesses in obtaining necessary investment.
Peer and expert mentoring and networking opportunities to guide businesses through scaling processes.
Market assessment and development activities to help businesses identify and penetrate new markets.

grant_eligibility_criteria|zone

Eligible expenses for the PacifiCan Business Acceleration Pilot (BizAP) are those that are incremental, essential to the project, and beyond normal operations. These costs include:

Capital costs, such as equipment and machinery.
Labour costs, including wages and benefits.
Operating costs directly related to the project, like management fees.
Consultancy fees, covering professional, advisory, and technical services.
Costs related to intellectual property.
Preproduction expenses, such as technological development and commercial demonstrations.
Subcontracting costs.
Production and distribution of promotional material and management tools.
Costs associated with specialized services, including testing, research and development, technical or innovation, and sector development strategies in all markets and business networking.

grant_single_labels|criteria

The evaluation and selection of projects for the PacifiCan Business Acceleration Pilot (BizAP) are based on specific criteria to ensure strong alignment with the program's objectives.

Value for money.
Participant business selection.
Capital attraction activities.
Market activities.
Mentoring and networking activities.
Participant accountability.
Management capacity.
Financial capacity.

grant_single_labels|register

Step 1: Review Eligibility and Guidelines
- Ensure your organization is an eligible not-for-profit or for-profit entity according to BizAP criteria.
- Review the list of eligible and ineligible activities and costs provided by BizAP.
Step 2: Contact PacifiCan for EOI Details
- Email or call PacifiCan to request additional details about the Expression of Interest (EOI) requirements.
- Obtain access to the EOI portal.
Step 3: Submit Expression of Interest (EOI)
- Complete the online EOI application form on the designated portal.
- Describe the proposed project's purpose, rationale, eligibility, activities, and budget in the EOI.
- Submit the EOI before the deadline of 12:00 PM PST on December 14, 2023.
Step 4: Await Invitation for Full Application
- If your EOI is selected, await an invitation from PacifiCan to submit a full application.
- Note that only the strongest EOIs will proceed to the full application stage.
Step 5: Prepare Full Application
- Gather detailed project information, including financial statements, other sources of funding, and additional project details.
- Ensure all non-PacifiCan funding is confirmed with written proof.
Step 6: Submit Full Application
- Upload detailed project documents to the online portal as per the invitation.
- Review application for completeness and accuracy.
- Submit the full application within the specified timeline provided by PacifiCan.
Step 7: Await Funding Decision
- Expect a funding decision within 90 business days of submitting a complete funding proposal.

grant_single_labels|otherInfo

This grant focuses on supporting high-growth-potential businesses in British Columbia through targeted investments and offers funding mechanisms that cater to both not-for-profit and for-profit organizations.

Non-repayable contributions are available to not-for-profit organizations.
Repayable contributions are available to for-profit organizations, usually repaid at 0% interest over 5 years.
In-kind contributions will be considered up to a maximum of 50% of the total private sector funding amount.
All project costs should be incremental and essential to the project to be eligible for reimbursement.
Hospitality, sole-sourced consultant fees, and advocacy-related costs are generally not supported.
EOIs will be competitively assessed, and only the strongest will advance to the full application stage.
Funding decisions are typically provided within 90 business days of receiving a complete funding proposal.

grant_single_labels|contact

info@pacifican.gc.ca

1-888-338-9378

Apply to this program

Ignite Your Business Growth with PacifiCan BizAP

The PacifiCan Business Acceleration Pilot (BizAP) is a strategic initiative aiming to boost small businesses in British Columbia, providing them with the capital and mentorship necessary to scale up and contribute significantly to the regional economy. It seeks to bolster high-growth-potential businesses through competitive, value-driven investments over a span of up to three years.

Detailed Insights into PacifiCan's BizAP and Its Economic Impact

PacifiCan’s Business Acceleration Pilot (BizAP) is crafted to be a transformative force for British Columbia’s small and medium-sized enterprises (SMEs), focusing on those with high growth potential. Small businesses are pivotal to BC's economy, driving innovation, creating jobs, and fostering community engagement, yet they often struggle with scaling challenges such as capital acquisition, market penetration, and access to expert advice. BizAP addresses these critical needs by offering structured support aimed at resolving scale-up barriers, thereby enabling these enterprises to realize their growth ambitions and contribute to a robust, thriving economic landscape in British Columbia.

The BizAP initiative is not merely a funding vehicle but a comprehensive support program designed to provide SMEs with financial resources, expert mentorship, and market development advantages. Selected organizations will receive funding for up to three years, allowing businesses the opportunity to secure the capital required for essential activities like capital attraction, expert and peer networking, and market assessment. Such strategic investments do not just increase business visibility but are meticulously aligned to promote the scalability and sustainability of participant organizations.

To ensure that government resources yield maximum economic impact, BizAP employs a competitive selection process focusing on value-for-money. This ensures funded initiatives are those best positioned to deliver measurable economic benefits to British Columbia. This focus on economic vitality translates into strengthened industry clusters, increased exports, and a more competitive BC on the global stage. For the participants, outcomes are tangible: increased revenue, greater capital investment, higher export sales, and most importantly, job creation—both high-quality roles in STEM fields and non-STEM positions.

Equally important is BizAP’s commitment to inclusivity and diversity. It opens the gateway to a diverse range of applicants, including not-for-profits, Indigenous organizations, business accelerators, and educational institutions, among others. By intentionally including organizations from rural and underrepresented communities, BizAP seeks to ensure that the benefits of business growth and economic development are felt across all demographics of BC, fostering an inclusive economy that truly serves all its people.

The funding mechanism under BizAP is strategically structured to accommodate varying needs of different organizations. Not-for-profits can benefit from non-repayable contributions, whereas for-profit entities receive repayable contributions at a down-to-earth 0% interest rate, repayable over five years, thereby offering balanced support while ensuring economic responsibility. This dual approach mitigates the financial strain on businesses, allowing them to focus their resources on achieving their growth milestones.

However, securing funding through BizAP involves more than just financial prudence. Applicants must demonstrate robust project management and financial stewardship, effectively proving their capability to drive meaningful business outcomes. This includes showcasing strong governance measures, readiness for capital attraction, and effective management of mentoring and network-building activities. Moreover, funding recipients are required to provide regular progress reports to PacifiCan, ensuring accountability and transparency throughout the project lifecycle.

Pivotal to the application process, BizAP encourages potential beneficiaries to submit an Expression of Interest (EOI), outlining their project’s purpose, eligibility, and financial requirements. This preliminary step helps filter applications for a more detailed second-stage full application, ensuring that resources are dedicated to the most promising and strategically aligned projects. Ultimately, the initiative not only serves as an economic catalyst but also as an instrument for fostering innovation and sustainable business practices that will continue to benefit British Columbians well into the future.