PacifiCan — Jobs and Growth Fund — For profit
BC, Canada
Money to future-proof your business in British Columbia
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
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- grant_single|timelineUnspecified
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Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Information and cultural industries
- Health care and social assistance
- Other services (except public administration)
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- Government of Canada
- Pacific Economic Development Canada
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grant_card_status|open
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If you are working on a project for your business to transition to a green economy, foster an inclusive recovery, become more competitive and create jobs for Canadians, you could get an interest-free, repayable contribution for up to 50% of the project’s
grant_single_labels|projects
This grant is focused on aiding the economic development in British Columbia. Eligibility for the grant is geographically aligned with businesses operating within this province.
- Businesses located in British Columbia, Canada.
grant_single|admissibleProjectsExample
$105,000
Development of a software platform for digital transformation in SMEs
$375,000
Construction of an inclusive community center for diversified social services
$80,000
Development of a professional certification program for digital skills in underserved communities
$192,500
Implementation of a vertical farming system to enhance food security
$257,500
Upgrading of manufacturing equipment to improve energy efficiency in a textile factory
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed activities.
- The applicant must be a business or a not-for-profit organization.
- Sole proprietors are not eligible to apply.
- Indigenous-led organizations and/or businesses are encouraged to apply.
grant_eligibility_criteria|who_can_apply
Businesses (excluding sole proprietors) and not-for-profit organizations, including municipalities, post-secondary institutions, provinces and related entities, and Indigenous organizations. Indigenous-led organizations and businesses are especially encouraged to apply.
grant_eligibility_criteria|who_cannot_apply
Based on the provided information, there are minimal restrictions explicitly stated for this grant, except certain business types based on their legal status. The criteria are focused on fostering specific activities and applicant types.
- Sole proprietors are not eligible.
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This grant prioritizes activities that aid in economic recovery, innovation, and inclusivity across British Columbia. The focus is on green economy transitions, inclusivity initiatives, competitiveness, and strengthening critical industry sectors.
- Supporting the development and adoption of clean technology to transition to a green economy.
- Helping communities and businesses plan for and implement clean, sustainable economic growth.
- Partnering to develop green regional clusters that enhance regional economies.
- Encouraging businesses to transition to a green economy through collaborative efforts.
- Supporting businesses owned or majority-led by underrepresented groups to foster an inclusive recovery.
- Encouraging economic participation of underrepresented groups through support of not-for-profit services like funding, training, and resources.
- Advancing digital adoption among SMEs to enhance productivity and competitiveness (Industry 4.0).
- Strengthening sector capacities critical to Canada's growth, such as advanced manufacturing and health sciences.
- Supporting initiatives in supply chain adaptation and diversification in critical sectors.
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Eligible expenses under the grant include costs that are incremental and essential to the project's execution and success.
- Capital costs such as equipment and machinery.
- Labour costs including wages and benefits.
- Marketing expenses related to the project.
- Costs associated with intellectual property.
- Technology development and commercial demonstrations expenses.
- Professional, advisory, and technical services fees.
grant_single_labels|criteria
The evaluation and selection of projects for this grant are based on criteria that assess their alignment with program objectives across several dimensions.
- Alignment with one or more of the 4 eligible activities of the program.
- Ability to produce direct economic outcomes supported by reasonable assumptions, such as the number and quality of jobs created relative to the funding amount requested.
- Capability of the management team and the applicant’s ability to achieve intended outcomes.
- Financial capacity, including the ability of businesses to repay funds and other confirmed funding sources and leverage from other funders.
- Nature and strength of demand and competition for the proposed products and services.
- Competitive advantage and degree of advancement over existing technologies, including an intellectual property management strategy for technology commercialization projects.
grant_single_labels|register
Here are the steps to apply for the Jobs and Growth Fund grant:
- Step 1: Contact PacifiCan Officer
- Reach out to a PacifiCan Officer before starting your application to ensure program fit.
- Get answers to any preliminary questions you may have about the eligibility or application process.
- Step 2: Prepare Application
- Gather necessary documentation, including proof of other confirmed funding sources as specified.
- Draft a detailed project plan addressing how your project meets the program objectives.
- Prepare financial details demonstrating your organization’s capacity for any repayment responsibilities, if applicable.
- Step 3: Submit Application
- Ensure all parts of the application are complete and accurately filled out.
- Submit your application along with all required supporting documents before funding is fully allocated or the program's closure date.
- Step 4: Confirmation of Submission
- After submission, ensure you receive confirmation of your application being received.
- Keep records of your submitted application details.
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Here are additional relevant details for this grant:
- Contacting a PacifiCan officer before submission is strongly encouraged to ensure program fit and to resolve questions.
- The program includes a dedicated $70 million nationally for businesses established post-January 2020, fitting specific eligibility requirements.
- Funding for Indigenous clients can reach up to 100% of eligible project costs in exceptional circumstances.
- Applications are accepted on a continuous basis until March 31, 2024, or until funds are fully allocated.
Apply to this program
Building a Robust Economy in British Columbia
The Jobs and Growth Fund is a strategic initiative aimed at creating employment opportunities and fostering long-term economic growth across British Columbia. Although the program is now closed, it once provided essential financial backing to businesses and organizations poised to advance Canada's competitive edge and inclusivity in various sectors.
Detailed Insights into the Jobs and Growth Fund's Strategic Focus
Launched by Pacific Economic Development Canada (PacifiCan), the Jobs and Growth Fund aimed to stimulate robust economic activities by heavily investing in both public and private sector initiatives all throughout British Columbia. With an impressive allocation of $85.4 million specifically targeted at businesses and organizations within the province, the fund provided a critical catalyst for ventures committed to transitioning to a green economy and championing an inclusive recovery. It recognized the pivotal role that small to medium enterprises (SMEs) and community partners play in transforming economic landscapes.
The fund prioritized projects that demonstrated strong alignment with four core activities: transitioning to a green economy, fostering an inclusive recovery, advancing Canada's digital competitiveness, and strengthening vital industrial capacities. In pushing the transition to greener practices, the program funded the development and adoption of clean technologies, helping communities strategize on sustainable growth, and catalyzing green clusters. This not only aimed to bolster environmental stewardship but also to enhance economic resilience against climate shifts.
In terms of inclusivity, the fund paid particular attention to businesses led by underrepresented groups, including Indigenous peoples, racialized communities, and 2SLGBTQI+ individuals. By empowering these groups through financial support and enhanced access to training and other resources, the fund strived to build a workforce that was both more diverse and equitable. Moreover, by fostering such inclusive economic participation, it sought to leverage the diverse talent pool present in British Columbia to foster enhanced innovation and creativity.
By focusing on digital adoption and the growth of SMEs, the fund recognized the significant impact of digital solutions in a rapidly evolving global market. It supported the development of Industry 4.0 solutions and encouraged digital transformation to help businesses in British Columbia scale and modernize. The fund was also designed to fortify Canada’s industrial bases in sectors of global competitive advantage like advanced manufacturing, health sciences, and digital technology, thereby preparing the regional economy to withstand and excel in future economic challenges.
Repayable interest-free funding was available to businesses for up to 50% of eligible costs, allowing them to invest in necessary infrastructure without the immediate burden of high-interest repayment plans. Non-repayable funding for up to 90% of eligible costs was available to not-for-profits, strengthening community support systems and fostering economic regeneration through non-commercial ventures. Exceptional scenarios allowed Indigenous clients to access funding to cover the full costs of applicable projects, emphasizing the support for Indigenous communities.
The program's evaluation process was designed to ensure robust selection criteria. Applications were scrutinized for their ability to advance strategic program targets, derive tangible economic benefits such as job creation, and demonstrate sound managerial and financial stewardship. Ventures that showcased innovative technologies or solutions were particularly favored, supported by a detailed intellectual property management strategy to protect and capitalize on breakthrough advancements.
Although not currently open, the Jobs and Growth Fund exemplifies the government's commitment to fostering a vibrant, sustainable, and inclusive economy within British Columbia. It underscores the pivotal role that strategic investment plays in building resilient local economies, nurturing innovation, and promoting equitable growth opportunities for all community members. As British Columbia continues to evolve economically, programs like the Jobs and Growth Fund leave a lasting legacy shaped by the principles of sustainability, inclusivity, and competitive vitality.
