PacifiCan Business Acceleration Pilot (BizAP)
BC, Canada
PacifiCan BizAP enhances business scale-up in British Columbia
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateOctober 26, 2023
- grant_single|closingDateDecember 14, 2023
- grant_single|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Pacific Economic Development Canada (PacifiCan)
grant_single|status
grant_card_status|closed
grant_single_labels|preview
The PacifiCan Business Acceleration Pilot (BizAP) aims to support high-growth-potential businesses in British Columbia by investing in activities that address critical scale-up needs such as capital attraction, peer and expert mentoring, and market assessment and development. The program offers funding for up to three years, targeting organizations that foster quality job creation, competitive industry clusters, and inclusive economic growth.
grant_single_labels|terms_and_conditions
This grant offers various financing modalities designed to support both not-for-profit and for-profit organizations in scaling up their business operations. The modalities are structured to ensure effective fund utilization and financial accountability.
- Non-repayable contributions are available for not-for-profit organizations.
- For-profit organizations are offered repayable contributions, which are to be repaid over 5 years at 0% interest starting one year after the project end date.
- PacifiCan provides funding in periodic reimbursements, based on approved eligible costs that have been incurred and paid.
- In-kind contributions, primarily professional services, can be considered part of matching funds but are capped at 50% of total private sector contributions.
- All successful applicants must sign a Contribution Agreement detailing funding obligations, including submission of claims and progress reports at least twice a year.
grant_single_labels|projects
This grant supports initiatives that are crucial for addressing the scale-up needs of high-growth-potential businesses within British Columbia. The eligible activities are designed to foster capital attraction, mentorship, and market development to enhance business expansion capabilities.
- Activities focused on capital attraction for high-growth businesses.
- Peer and expert mentoring and networking initiatives.
- Market assessment and development projects.
grant_single|admissibleProjectsExample
$ 90,000
Establishment of a business mentoring network for Indigenous entrepreneurs
$ 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
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
This grant is designed to support businesses across British Columbia, as indicated by the specific economic focus and goals of PacifiCan. Eligible geographical areas are targeted within British Columbia to enhance local economic development.
- All regions within the province of British Columbia, Canada.
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
