Deadline: 27-Jul-22
The Pacific Economic Development Canada (PacifiCan) is seeking Expression of Interest (EOI) for the Business Scale-up and Productivity (BSP) Program.
Pacific Economic Development Canada (PacifiCan) supports innovation, business growth and community economic development in British Columbia. PacifiCan’s goals are to:
- create quality jobs for British Columbians
- foster competitive industry clusters
- help businesses grow locally and compete globally
- ensure economic growth is inclusive
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. They are working to strengthen British Columbia’s position as a domestic and international leader in these sectors.
BSP supports high-growth businesses that are scaling up and producing innovative goods, services or technologies. It offers interest-free, repayable funding to incorporated businesses.
Expected Results
- PacifiCan is looking to support projects that have a viable plan to produce strong economic outcomes.
- Applicants must quantify, substantiate and later report on the following expected results:
- number of high-quality personnel (HQP) jobs created in Canada
- number of non-HQP jobs created in Canada
- revenue growth ($)
- export sales growth ($)
- business sales growth resulting from commercialization ($) – where applicable
- PacifiCan is working to improve the economic participation of Indigenous persons, women and youth.
Preferences
Note that preference may be given to proposals with a demonstrated focus on:
- Advanced manufacturing is defined by the development and adoption of innovative technologies to create new products, enhance processes and establish more efficient and cost-effective ways of working.
- Clean resources refers to transitioning from the old resource economy into a new resource economy. It is where innovation drives economic and environmental competitiveness in the energy, mining and forestry sectors, and leverages Canada’s natural resources advantage to transition to a low-carbon economy.
- Clean technology refers to any process, product or service that reduces environmental impacts in order to better control costs, meet new regulatory requirements, improve global competitiveness and reduce impacts on climate, water, land and air.
- Digital industries includes a combination of information and communication technology (ICT), digital and interactive media, and content industries, as well as manufacturers and service companies that creatively capture, transmit and display information electronically in innovative ways.
- Health/bio-sciences encompasses a wide range of companies, from the developers and manufacturers of pharmaceuticals, precision oncology advancements, medical devices and biomedical innovations, to producers of digital health solutions, health analytics and diagnostics, and disruptive technologies, such as artificial intelligence (AI), big data analytics, 3-D printing, robotics and nanotechnologies.
- Natural resources value-added processing includes the processing of natural resources in the energy, mineral or forestry sectors that adds value to primary products/raw materials.
- Ocean technology is the sector that engages in the development in marine products and services including autonomous underwater or remote vehicles; subsea sensors; marine control, guidance, and navigation systems; renewable energy systems and marine batteries.
- Value-added agriculture/agritech is a complex and interdependent sector that includes agriculture, fisheries and aquaculture, and food and beverage processing/packaging. It is the development and application of technology and innovation to improve production, profitability, and sustainability.
Eligibility Criteria
The BSP 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).
Businesses must meet the following mandatory criteria:
- high-growth business that is scaling up and producing innovative goods, services or technologies
- incorporated to do business in Canada
- have been in business for at least 2 years in Canada
- have staffed operating facilities in British Columbia
- submit evidence of confirmed funding, at the time of expression of interest submission, from all other sources, including government and non-government (non-government funding must represent at least 50% of the proposed project costs)
- be looking to support or accelerate growth through the following activities:
- Productivity improvement: includes acquiring, adapting, and/or adopting new technologies and processes; process re-engineering; improving manufacturing capacity
- Business scale-up: includes market development or expansion, adopting best management practices, processes and systems, business opportunity development
- Technology commercialization: includes late stage product development to grow and diversify markets, and technology demonstration (Technology Readiness Levels 7-9 as defined by Innovation, Science and Economic Development Canada)
- maximum project duration of 3 years
For more information, visit https://www.canada.ca/en/pacific-economic-development/services/funding/business-scale-up-productivity.html