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)
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:
Natural resources value-added processing