PacifiCan Business Acceleration Pilot (BizAP)
Overview
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.
At a glance
Funding available
- Integrate new technologies
- Develop strategic partnerships
- Research and experimental development
- Up to 50% of project cost
- Open Date : October 26, 2023
- Closing date : December 14, 2023
Eligible candidates
- All industries
- British Columbia
- Non-profit
- Public or Parapublic institution
- For-profit business
- Social economy enterprise
- All revenue ranges
- All organization sizes
- Indigenous Peoples
- Rural or Northern Residents
- Startups
- Economic, Social and Community Development
- Employment and Training
- Business Associations
- Diversity and Inclusion
- Indigenous peoples
- Rural / Remote communities
- Business owners / entrepreneurs
- All structures
- Municipal
- Regional
- Provincial
Activities funded
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.
Eligibility
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.
Who is eligible?
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.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.
Eligible geographic areas
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.
Selection 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.
How to apply
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.
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.
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.
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.
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.
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.
Await Funding Decision
Additional information
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.
