The BSP Program Offers Interest Free Repayable Funding to Incorporated Businesses
BRITISH COLUMBIA – Western Economic Diversification Canada (WD) makes strategic investments in key economic sectors and also supports the development of leading industry geographic clusters through its Business Scale-up and Productivity (BSP) program.
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.
Definition of a “high-growth business”
A high growth business can be defined as any for-profit company that has notable and/or consistent revenue increases year over year. Typically, this means an increase of at least 20% year over year. Businesses that are negatively impacted by the current pandemic would be eligible if they met this definition prior to March 31, 2020.
Eligibility
The BSP program is open to incorporated high-growth businesses that have been operating in western Canada 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 Western Canada (defined as British Columbia, Alberta, Saskatchewan or Manitoba)
- have confirmed, at the time of expression of interest submission, funding from all other sources, including government and non-government (non-government funding must represent at least 50% of the proposed project costs)
- be a high-growth business looking to support or accelerate growth through the following activities:
- Productivity Improvement: includes acquiring, adapting, and 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, as well as technology showcasing and technology demonstration. (Technology Readiness Levels 7-9as defined by Innovation, Science and Economic Development Canada)
- maximum project duration of 3 years focused on one or more of the following areas:
- 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, medical devices and biomedical innovations, to producers of digital health solutions 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.
- Value-added Agriculture is a complex and interdependent sector that includes agriculture, fisheries and aquaculture, and food and beverage processing.
Note that preference will be given to proposals with a demonstrated focus on:
- Clean Technology (as defined above)
- Food and Ingredients Processing includes businesses using plant-based food and ingredients (i.e. food and ingredient manufacturers).
- Health Analytics and Diagnostics refers to the systemic analysis of aggregated health and clinical data to improve patient care, improve health system management, or reduce healthcare costs. Health diagnostics involves an instrument or technique used in medical diagnosis to identify or describe a health disease or condition.
- Zero Emission Heavy Equipment Vehicles includes manufacturers of urban and intercity buses, fire trucks, motorhomes, recreational vehicles, trailers, mobile agricultural, construction and mining equipment and their associated suppliers. Related technologies include battery electric and hydrogen fuel cell drives, electrification of ancillary systems, material light weighting and others.
Eligible costs
- Up to 50% of eligible project costs:
- Minimum $200K; Maximum $5M/project
- Maximum $10M to any one organization
- Minimum 50% of total project funding required from confirmed non-government sources
When to submit an Expression of Interest
The next intake period will take place between March 15 and April 14, 2021. A completed expression of interest (EOI) and all mandatory attachments are required. EOIs must be submitted by April 14, 2021, at 2:00 pm (MT).
