Business Scale-up and Productivity in British Columbia
The Business Scale-up and Productivity (BSP) program invests in high-growth businesses in B.C. that are scaling and developing innovative goods, services or technologies. It focuses on both established and emerging sectors to enhance B.C.'s leadership in priority areas.
Offered by PacifiCan
Amount
$200,000 to $5M per project, as interest-free repayable contributions
Quick eligibility check
Who can apply
You may be eligible to apply for the Business Scale-up and Productivity (BSP) program if your business:
- is high-growth and incorporated in Canada
- is scaling and producing innovative goods, services or technologies
- has been operating in Canada for at least two years
- operates staffed facilities in B.C.
- has secured at least 50% of project funding from non-government sources
Projects
Projects can have a maximum duration of three years. The strongest projects will:
- support growth through one or more BSP program objectives
- clearly align with at least one priority area
- achieve significant economic outcomes
- clearly define the market size and show business potential
- demonstrate financial capacity to execute the project and repay funding
- demonstrate management capability to carry out the project
- demonstrate technology readiness and a well-defined IP strategy (technology commercialization projects)
- clearly explain how productivity or efficiency savings will enable the company to grow and expand (productivity improvement projects)
- have a comprehensive and well-written business plan
Expected results
We prioritize projects that have a viable plan to produce strong economic outcomes. Applicants must quantify, substantiate and later report on:
- how many highly qualified personnel (HQP) jobs you created in Canada
- how many non-HQP jobs you created in Canada
- your revenue growth
- your export sales growth
- your business sales growth resulting from commercialization (where applicable)
The Business Scale-up and Productivity (BSP) program is open to incorporated businesses.
Confirmation of non-government funding
At least 50% of your project funding must come from non-government sources.
Confirmation must be provided at the time of application and again prior to project approval.
About the funding
Funding per recipient: $200,000 to $5M per project
Type of funding: Repayable contributions
Funding disbursement
PacifiCan will provide funding to successful projects by reimbursing claims submitted by the recipient. PacifiCan will provide detailed instructions on this process to those applicants approved for funding.
Show all funding details
Repayment
Recipients are required to repay the entire principal within 6 years of project completion. Following a 1-year grace period after project completion, recipients will be required to make 60 equal monthly payments.
Although funding is provided interest-free, interest equal to the average bank rate plus 3% will be charged for any late principal payments.
There is no penalty for early repayment.
Any government assistance received during the project and applied to project costs may reduce BSP funding to keep total government support at no more than 50%; assistance includes Scientific Research and Experimental Development Tax Incentive Program (SR&ED) credits and other federal or provincial tax credits
Our funding can cover reasonable, incremental and essential project costs including:
- equipment, machinery and other capital costs
- wages and benefits
- marketing
- intellectual property costs
- technology development and demonstrations
- professional services
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| BDC Growth & Transition Capital: Working Capital | Loan, Investment | Financing from $250,000 to $35M, repayable over 2 to 8 years | Open |
| EDC Direct lending | Loan, Loan Guarantee | Direct loans that typically start at $1 million, structured to match your business needs, priced in line with commercial market rates | Open |
| EDC Structured and Project Finance | Loan | No fixed amount | Open |
| Pivot to grow loan | Loan | Up to $5 million per stream, for a maximum total of $10 million per support program | Open |
