PacifiCan — Regional Economic Growth through Innovation — Business Scale-Up and Productivity
BC, Canada
Financing to accelerate growth in British Columbia
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJuly 14, 2023
- grant_single|closingDateSeptember 22, 2023
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Mining, quarrying, and oil and gas extraction
- Manufacturing
- Information and cultural industries
- Health care and social assistance
grant_single|grantors
- Government of Canada
- Pacific Economic Development Canada
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Get a financial contribution to help you scale up and expand, adopt and commercialize innovative technologies and processes, or diversify your markets.
grant_single_labels|projects
The Business Scale-up and Productivity program supports high-growth businesses in British Columbia looking to scale up and produce innovative goods, services, or technologies. Eligible projects include activities aimed at improving productivity, scaling the business, and commercializing technology.
- Acquiring, adapting, and/or adopting new technologies and processes
- Process re-engineering
- Improving manufacturing capacity
- Market development or expansion
- Adopting best management practices, processes, and systems
- Business opportunity development
- Late-stage product development to grow and diversify markets
- Technology demonstration (Technology Readiness Levels 7-9)
grant_single|admissibleProjectsExample
$1,600,000
Ottawa
Commercialize a new AI-driven financial advisory platform
$1,500,000
Montreal
Develop and commercialize an innovative renewable energy system
$775,000
Calgary
Scale up organic farm operations with new equipment and marketing strategies
$1,000,000
Toronto
Implement a state-of-the-art AI-driven manufacturing line for enhanced productivity
$1,350,000
Edmonton
Develop advanced cybersecurity solutions for small businesses
$1,200,000
Vancouver
Expand operations by opening a new warehouse and distribution center
grant_single_labels|admissibility
The Business Scale-up and Productivity (BSP) program is open to high-growth businesses incorporated in Canada, specifically those that have been operating in British Columbia for at least two years and are involved in producing innovative goods, services or technologies. Preference may be given to SMEs with fewer than 500 full-time employees and those with a demonstrated focus on export orientation, advanced manufacturing, clean resources, and other priority areas.
- High-growth business scaling and producing innovative goods, services or technologies.
- Incorporated to do business in Canada.
- At least two years of business operation in Canada.
- Staffed operating facilities in British Columbia.
- Submission of evidence of confirmed funding covering at least 50% of proposed project costs from non-government sources.
- Seeking to support or accelerate growth through productivity improvement, business scale-up, or technology commercialization activities.
- Maximum project duration of three years.
grant_eligibility_criteria|who_can_apply
The Business Scale-up and Productivity (BSP) program is open to incorporated high-growth businesses operating in British Columbia for at least 2 years. Preference is given to small and medium-sized enterprises (SMEs) with less than 500 full-time employees.
- High-growth business scaling up and producing innovative goods, services or technologies
- Incorporated to do business in Canada
- In operation in Canada for at least 2 years
- Staffed operating facilities in British Columbia
- Seeking to support or accelerate growth through productivity improvement, business scale-up, or technology commercialization
grant_eligibility_criteria|who_cannot_apply
The Business Scale-up and Productivity (BSP) program does not specify any particular types of companies that are explicitly ineligible for the grant. However, all applicants must satisfy the mandatory criteria outlined, such as being an incorporated high-growth business operating in British Columbia for at least two years.
grant_eligibility_criteria|eligible_expenses
The Business Scale-up and Productivity (BSP) program allows for up to 50% of eligible project costs to be requested, ranging from a minimum of $200,000 to a maximum of $5 million per project. Eligible costs must be incremental and essential to the project.
- Capital costs (equipment, machinery)
- Labour (wages, benefits)
- Marketing expenses
- Costs related to intellectual property
- Technology development and commercial demonstrations
- Professional, advisory, and technical services
grant_eligibility_criteria|zone
The Business Scale-up and Productivity (BSP) program is specifically for high-growth businesses operating in British Columbia. These businesses must be incorporated in Canada and have staffed operating facilities in British Columbia.
- Businesses must have been operating in British Columbia for at least 2 years.
- They must be incorporated to do business in Canada.
- Have staffed operating facilities within the province.
- Preference may be given to SMEs with less than 500 full-time employees (FTEs).
grant_single_labels|criteria
Applications for the Business Scale-up and Productivity (BSP) program are evaluated on their ability to achieve program objectives and their relative strengths in specific areas. Successful projects should align with priority areas and demonstrate significant economic benefits, among other criteria.
- Market potential
- Management capability
- Financial capacity
- Economic benefits
- Technology readiness (for technology commercialization projects only)
- Agency priorities
grant_single_labels|register
- Step 1: Review the BSP EOI Help Guide - Thoroughly go through the guide before submitting your Expression of Interest (EOI) to ensure compliance with program requirements.
- Step 2: Prepare Mandatory Documents - Gather financial statements for the past 2 years, interim financial statements for at least the last 6 months, a business plan describing the proposed project, confirmation of other funding sources, and financial documentation.
- Step 3: Ensure Eligibility Criteria are Met - Verify that your business meets all the mandatory criteria related to business growth, incorporation, operational history, facility staffing, and funding requirements.
- Step 4: Define Project Activities - Clearly outline whether your project involves productivity improvement, business scale-up, or technology commercialization, and ensure it aligns with preferred areas if aiming for faster approval.
- Step 5: Submit Expression of Interest (EOI) - Fill out and submit an EOI during the specified intake period, ensuring correctness and thoroughness in all submitted information and documentation.
- Step 6: Await Invitation to Apply - If your EOI aligns well with the program's objectives and holds strong merit, you may be invited to submit a full application for detailed assessment.
- Step 7: Prepare Detailed Application - If invited, submit a comprehensive application with the required documents, project details, and financial projections.
- Step 8: Undergo Assessment - Applications will be evaluated on market potential, management capability, financial capacity, economic benefits, and alignment with agency priorities.
- Step 9: Await Funding Decision - Following a successful assessment, a funding decision will be communicated, typically within 90 business days after submission.
- Step 10: Claim Funding - Upon project approval, you can begin claiming reimbursement for eligible project costs based on approved portions.
grant_single_labels|otherInfo
The Business Scale-up and Productivity program (BSP) offers interest-free, repayable funding to support high-growth businesses in British Columbia, with a focus on enhancing productivity, scaling businesses, and commercializing technology across specific priority sectors. Eligible projects require confirmation of at least 50% non-government funding, and preference is given to initiatives with export orientation, advanced manufacturing, and inclusion of underrepresented communities.
- PacifiCan supports innovation, business growth, and community economic development in British Columbia.
- BSP funding ranges from a minimum of $200,000 to a maximum of $5 million per project.
- A business can receive a maximum of $10 million across multiple projects from PacifiCan.
- Eligible costs include capital costs, labor, marketing, intellectual property, and professional services.
- Ineligible costs include basic and applied R&D, land, buildings, and salary bonuses.
- Projects must align with priority areas such as export orientation, advanced manufacturing, clean technology, digital industries, health/bio-sciences, and ocean technology.
- Projects must demonstrate significant economic benefits and are evaluated based on market potential, management capability, financial capacity, and technology readiness.
- PacifiCan may consult NRC-IRAP for projects using novel technology and partner with Sustainable Development Technologies Canada for clean technology projects.
- Funding disbursement is based on submitted claims and reimburses 50% of eligible project costs.
- After project completion, there is a 1-year grace period followed by equal monthly repayments over five years.
- There is no penalty for early repayment.
grant_single_labels|contact
info@pacifican.gc.ca
1-888-338-9378
Apply to this program
Business Scale-up and Productivity (BSP) Grant Overview
The Business Scale-up and Productivity (BSP) Grant by Pacific Economic Development Canada (PacifiCan) supports high-growth businesses in British Columbia aiming to scale up and innovate. Offering interest-free, repayable funding, this program focuses on enhancing productivity, business scale-up, and technology commercialization.
Detailed Description of the Business Scale-up and Productivity (BSP) Grant
The Business Scale-up and Productivity (BSP) Grant, offered by Pacific Economic Development Canada (PacifiCan), is a strategic initiative aimed at fostering innovation, economic growth, and community economic development in British Columbia. As a part of the national Regional Economic Growth through Innovation program, the BSP Grant provides vital financial support to high-growth businesses seeking to expand their operations, improve productivity, and commercialize cutting-edge technologies. In this comprehensive guide, we delve into the intricate details of the BSP Grant, including its objectives, eligibility criteria, funding specifics, and the application process.
Objectives of the BSP Grant
PacifiCan has outlined several key goals with the BSP Grant, which align with their broader mission of enhancing British Columbia's economic landscape. The primary objectives include: 1. **Job Creation**: Supporting the creation of quality jobs for British Columbians in various regions, emphasizing the inclusion of underrepresented communities, including Indigenous peoples. 2. **Industrial Competitiveness**: Promoting the establishment of competitive industry clusters and sectors that have the potential for significant economic impact both domestically and internationally. 3. **Business Success**: Aiding businesses in becoming globally successful by facilitating their growth and market expansion strategies. 4. **Inclusive Growth**: Encouraging growth that includes rural, Indigenous, and underrepresented communities, fostering a more equitable economic environment.
Eligibility Criteria
To apply for the BSP Grant, businesses must meet specific eligibility criteria to ensure they align with the goals of the program. Here are the detailed requirements: 1. **Business Structure**: Applicants must be high-growth businesses incorporated in Canada, with a particular emphasis on small and medium-sized enterprises (SMEs) with fewer than 500 full-time employees. 2. **Operational History**: Businesses must have been operating in British Columbia for a minimum of two years, demonstrating stability and potential for growth. 3. **Project Focus**: Proposed projects should aim to support or accelerate growth through activities such as productivity improvement, business scale-up, and technology commercialization. 4. **Confirmed Funding**: At the time of expression of interest submission, businesses must submit evidence of confirmed funding from all other sources, including non-government sources, which should make up at least 50% of the proposed project costs. 5. **Project Duration**: Projects should have a maximum duration of three years, allowing sufficient time for implementation and achievement of expected outcomes.
Eligible and Ineligible Costs
Understanding what costs are covered under the BSP Grant is crucial for applicants. Here’s a breakdown: - **Eligible Costs**: The program can cover up to 50% of eligible project costs, which include capital costs (equipment, machinery), labor (wages, benefits), marketing expenses, intellectual property-related costs, technology development, and professional, advisory, and technical services. - **Ineligible Costs**: Certain costs are not covered by the BSP Grant, such as basic and applied R&D, land and building acquisitions, salary bonuses, entertainment expenses, debt refinancing, and lobbying activities.
Expected Results and Reporting
PacifiCan expects applicants to provide a viable plan for producing strong economic outcomes through their projects. The key performance indicators for successful applications include: 1. **Job Creation**: Reporting on the number of high-quality personnel (HQP) and non-HQP jobs created in Canada. 2. **Revenue and Sales Growth**: Applicants must quantify and later report on expected revenue growth, export sales growth, and business sales growth resulting from commercialization efforts. 3. **Inclusiveness Efforts**: Emphasis is placed on improving the economic participation of Indigenous people, women, and youth.
Application Process
Submitting an Expression of Interest (EOI) is the first step in the application process, followed by a detailed assessment of selected projects. Here are the pivotal stages: 1. **EOI Submission**: The BSP Grant accepts EOIs from July 14, 2023, to September 22, 2023. Businesses are advised to provide a comprehensive overview of their project, ensuring it aligns with program objectives. 2. **Invitation to Apply**: EOIs with the strongest merit and alignment will be invited to complete a full application, undergoing a detailed assessment that evaluates market potential, management capability, financial capacity, and expected economic benefits. 3. **Funding Decisions and Disbursement**: PacifiCan communicates funding decisions within approximately 90 business days of receiving a complete application. Approved projects will receive funding disbursements based on submitted claims for eligible incurred costs, up to four times per year. 4. **Repayment Terms**: After project completion, there is a grace period of one year, followed by interest-free monthly payments over five years.
Strategic Focus Areas
The BSP Grant prioritizes projects in several strategic focus areas, including: 1. **Export Orientation**: Expanding Canadian products and services into new international markets. 2. **Advanced Manufacturing**: Development and adoption of innovative technologies for enhanced production processes. 3. **Clean Resources and Technology**: Transitioning to a low-carbon economy through innovation in energy, mining, and forestry sectors. 4. **Digital Industries**: Emphasizing information and communication technology, digital media, and innovative content delivery. 5. **Health/Bio-sciences**: Advancements in pharmaceuticals, medical devices, digital health solutions, and disruptive technologies like AI and big data. Engaging with the BSP Grant presents a robust opportunity for high-growth businesses in British Columbia to amplify their innovation efforts and contribute to a prosperous, inclusive, and sustainable economic future.
