Pacific Economic Development Canada (PacifiCan) has announced that they will be accepting Expressions of Interest for their Business Scale-up and Productivity program from November 23, 2022, at 12:00 pm PST through to January 31, 2023, at 12:00 pm PST.
PacifiCan makes strategic investments in growing companies through its Business Scale-up and Productivity (BSP) program, in both established sectors creating value now and emerging sectors growing quickly.
BSP supports high-growth businesses that are scaling up and producing innovative goods, services or technologies, offering interest-free, repayable funding to incorporated businesses. The program is open to incorporated high-growth businesses that have been operating in British Columbia for a minimum of 2 years. Preference may be given to small and medium-sized enterprises (SMEs) with less than 500 full-time employees (FTEs).
Up to 50% of eligible project costs may be requested from PacifiCan:
minimum $200,000; maximum $5 million per project
maximum $10 million to any 1 organization (through multiple projects)
minimum 50% of total project funding required from confirmed non-government sources
all non-PacifiCan sources must be confirmed at time of application and after project approval
New costs essential to the project. For example:
capital costs (equipment, machinery)
labour (wages, benefits)
marketing
costs related to intellectual property
technology development and commercial demonstrations
professional, advisory, technical services
Note that preference may be given to proposals with a demonstrated focus on:
Advanced manufacturing
Clean resources
Clean technology
Digital industries
Health/bio-sciences
Natural resources value-added processing
Ocean technology
Value-added agriculture/agritech