PacifiCan Business Acceleration Pilot (BizAP)
BizAP will make targeted investments in organizations whose proposals demonstrate their ability to help high-growth-potential businesses overcome their scale-up challenges. It will offer funding for up to three years of activities.
Offered by PacifiCan
Amount
PacifiCan funding capped at 50% of total project costs and not exceeding an average of $45,000 per business supported by the project; total project costs considered up to a maximum of $5 million over three years per project (repayable at 0% interest for for-profit organizations, non-repayable for not-for-profit organizations)
Quick eligibility check
Who can apply
BizAP is open to not-for-profit and for-profit organizations that support businesses in pursuit of scale-up ambitions, including but not limited to:
- business accelerators
- angel networks
- Indigenous organizations, including Indigenous-led not-for-profit organizations and Indigenous-owned businesses
- industry associations
- municipalities and all other municipal-type organizations
- groups or consortia of eligible recipients
- post-secondary educational institutions
- social enterprises
- groups or consortia of eligible recipients
All eligible applicants must be legal entities capable of entering into legally binding agreements.
- Who is eligible for funding under BizAP?
The initiative is open to both not-for-profit and for-profit organizations capable of delivering high-impact, high-value services that help businesses overcome their scale-up challenges and accelerate their growth. This could include not-for-profit or for-profit business accelerators, angel networks, Indigenous-led or owned organizations, industry associations, consortia of eligible organizations, etc.
For-profit organizations are eligible for repayable contributions (interest-free, loan-like arrangements) and not-for-profit organizations are eligible for non-repayable contributions.
To be eligible, applicants must be legal entities capable of entering into legally binding agreements.
About the funding
It will offer funding for up to three years of activities.
If we select your project for BizAP funding, PacifiCan will normally provide funding in periodic reimbursements, based on submitted claims. These reimbursements will be released to you for the approved portion of eligible projects costs that have been incurred and paid.
Non-repayable contributions are available to not-for-profit organizations.
Repayable contributions are available to for-profit organizations, and are normally repaid (at 0% interest) over five years in monthly installments beginning one year after the project end date.
Show all funding details
You will need to plan project cash flows based on the timing of the claims and the period to process the reimbursement. We provide an orientation to this process for successful applicants.
You are expected to have secured all non-PacifiCan requested project financing before applying.
In-kind contributions will be considered. Eligible in-kind contributions will be limited to the provision of professional services, including legal, accounting, marketing, business coaching, information technology, etc., for which a clear market value can be determined. In-kind contributions will be considered up to a maximum of 50% of the total private sector funding amount.
- How much funding is available?
The total amount of funding that PacifiCan ultimately commits to the pilot initiative will depend on the volume and quality of applications received.
On a per-project basis, total project costs are expected to be considered up to a maximum of $5 million over three years. Preference will be given to projects that deliver the best value for money.
- What portion of project costs will PacifiCan cover?
Applicants are expected to source a significant portion of project funding from private sources. PacifiCan funding will be capped at 50% of total project costs.
In addition to the 50% cap on total project costs, PacifiCan funding will not exceed an average of $45,000 per business supported by the project.
- May I seek additional funding from other government departments and agencies?
Applicants are expected to source a significant portion of project funding from private sources. Total combined government funding (stacking) will be capped at 65% of total project costs. This means that if you are seeking the maximum 50% funding from PacifiCan, an additional 15% of total project costs are eligible for support from another federal department, or other level of government (e.g., a provincial ministry or agency).
The balance of funding to cover project costs must come from private sector sources, which could include:
- Service/participation fees paid by participant businesses;
- Working capital;
- Private third-party cash contributions; and
- Certain private, third-party, in-kind contributions, up to a maximum of 50% of the private sector funding.
Activities that support critical scale-up needs, such as:
- capital attraction;
- peer and expert mentoring and networking; and
- market assessment and development.
All proposed costs should be incremental, meaning that they are beyond the normal operations of an organization, and essential to the project. Costs that may be eligible for reimbursement include, but might not be limited to:
- capital costs (equipment, machinery)
- labour (wages, benefits)
- operating costs that are directly related to the project, such as management fees
- consultancy fees (such as professional, advisory and technical services)
- costs related to intellectual property
- preproduction (such as technological development and commercial demonstrations)
- subcontracting costs
- production and distribution of promotional material and management tools
- costs related to specialized services such as testing, research and development, technical or innovation, sector development strategies in all markets and business networking
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| B.C. Agri-Business Planning Program Stream 1: Agri-business skills and leadership development | Grant | Up to 70 percent of eligible costs, maximum reimbursement of up to $2,000 per business (minimum reimbursement of $500) | Open |
| B.C. Agri-Business Planning Program Stream 2: Business planning, preparedness, and disaster recovery | Grant | Reimbursement after project completion: maximum of up to $7,500 for an individual business (minimum $500) | Open |
| Aboriginal Entrepreneurship Program: Access to Capital | Grant | Individual Indigenous entrepreneurs may receive up to $99,999 in funding assistance and eligible Indigenous community businesses may receive up to $250,000 (non-repayable equity contribution | Open |
