The Canadian federal government’s Boost Your Business Technology stream is still accepting applications for its grants program. The grants can go up to a maximum of CAD 15,000.
This stream is geared towards small and medium scale industries, such as food processing and small manufacturing companies, to adapt modern technologies, primarily IT/software related products, to increase productivity, profits, and employment.
Approved companies will get grants covering a maximum of 90-percent (to up to CAD 15,000) of the costs incurred to develop a digital adaption plan. The digital development plan has to be developed by a digital advisor who has been approved as part of the Canadian Digital Adoption Program (CDAP).
The grant will cover costs associated with the hiring of the digital advisor and their creation of the digital adaption plan.
The digital advisors are registered with the CDAP program but the company is free to choose an advisor it finds the most appropriate for its needs.
The plan will be customized for the company, and can include marketing, cybersecurity strategy to mitigate digital security risks, and other software such as those in the ERP and CRM sectors.
The plan will include the current status of the company’s digital technologies and their adaption, the potential to use currently available technologies and a roadmap to implement the digital adoption program.
To support the implementation of the digital plan, the company can also apply for a zero-interest loan of up to CAD 100,000 from Business Development Corporation (BDC) and a wage subsidy of up to CAD 7,300 for a youth placement.
The eligibility criteria for the applications include:
- A Canadian, for-profit company (not-for profit and charities are excluded)
- Not a public company
- 1-499 employees
- A minimum annual revenue of CAD 500,000 and up to CAD 100 million over the past three years
- In good standing in terms of following Canadian laws
To know more about the program and the application process, go to this link.