Canada Digital Adoption Program (CDAP): Boost Your Business Technology

By mmuise
Description:

The Canada Digital Adoption Program (CDAP), by the Government of Canada, helps small and medium-sized enterprises (SMEs) adopt digital technologies to increase their competitiveness. Eligible businesses will receive a grant to build their digital plan, followed by a 0% loan of up to $100,000 to implement it.

The loan can be used for:
1. acquiring IT equipment;
2. installation of new technologies;
3. updating and/or expanding IT equipment;
4. training staff on onboarded technologies;
5. materials and support services directly related to onboarding the technology;
6. further advisory services on particular aspects of the digital adoption plan.


Comments on Funding:

Funding is in the form of a 0% loan of up to $100,000. A 12 months capital postponement is offered. The loan also covers up to 90% of the cost of hiring a digital advisor.

Deadline: Continuous Intake
Eligibility:

Applicants must have developed a digital adoption plan through the Boost Your Business Technology stream prior to aplying for the Canada Digital Adoption Program (CDAP) loan.
In order to be eligible for applying to the Boost Your Business Technology stream, the business must meet all of the following eligibility criteria:

  • be incorporated federally or provincially, or be a Canadian resident sole proprietor;
  • be a for-profit, privately owned business;
  • have between 1 – 499 full time equivalent employees;
  • have at least $500,000 of annual revenues in one of the previous three tax years.
Application Steps:

Applicants must:

1. register on the Innovation, Science and Economic Development Canada’s (ISED) website;

2. build a digital plan with the help of an ISED-approved partner;

3. submit their invoices to receive up to $15,000 to cover the advisory fees, once ISED validates the plan;

4. apply for the Canada Digital Adoption Program (CDAP) Loan using the personalized link in their email, once the plan is approved.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

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About the author
mmuise