Quantum technology is revolutionizing industries, and British Columbia is at the heart of this transformation. If you’re a business involved in cutting-edge quantum products, the Regional Quantum Initiative in B.C. could be the game-changer you need. This initiative, part of Canada’s National Quantum Strategy, supports companies and organizations looking to advance and commercialize quantum innovations for both domestic and global markets. Whether you specialize in quantum computing, sensors, communications technology, or materials, this program offers the funding you need to scale and make an impact.
Quantum technologies are poised to redefine everything from secure communications to advanced materials development and computing. By backing innovative businesses, the Regional Quantum Initiative funded by PacifiCan is helping fuel advancements that will transform not only the Canadian economy but also the daily lives of Canadians, such as:
- The development of cutting-edge medicines, vaccines, and advanced batteries
- Streamlined and more secure supply chains, along with enhanced digital communications
- Environmentally friendly products and new ways to model, monitor, and predict climate change effects
Amount of Funding Available
The Regional Quantum Initiative offers significant financial support for businesses and organizations advancing quantum technology.
- For businesses: Eligible applicants can receive interest-free, repayable funding for up to 50% of eligible project costs.
- For not-for-profit organizations: Eligible applicants can receive non-repayable funding for up to 90% of eligible costs. However, not-for-profits that undertake commercial projects typically receive repayable funding.
Stacking rules apply, with government funding (from all levels) limited to 50% of eligible capital costs and 75% of other eligible costs for businesses and commercial projects.
Eligibility
Eligible Applicants
This initiative targets quantum technology businesses and support organizations in British Columbia, including:
- Incorporated businesses:
- Preferences are given to small and medium-sized enterprises with fewer than 500 full-time employees
- Have staffed operating facilities in B.C.
- Funding from all other sources must be confirmed at the time of application, including government and non-government (at least 50% of costs must be from non-government funds)
- Not-for-profits supporting quantum innovation, including post-secondary institutions, accelerators, incubators, and Indigenous-led organizations
Eligible Activities
Projects must focus on advancing quantum technology in the following areas:
- Productivity improvements: Adopting new technologies, re-engineering processes, and enhancing manufacturing capacity
- Business scale-up: Expanding markets, improving management practices, and creating new business opportunities
- Technology commercialization: Late-stage product development, showcasing, and technology demonstration (Technology Readiness Levels 7-9)
- Ecosystem capacity building: Developing strategic alliances, overcoming industry barriers, and fostering collaboration within the sector
- Business acceleration and incubation: Helping startups grow by offering expertise in business planning, marketing, and advancing technology
Priority will be given to projects that focus on clean economic growth or promote diversity, equity, and inclusion by increasing the participation of underrepresented groups.
Eligible Project Costs
Eligible costs include:
- Labor costs (wages and benefits)
- Capital costs (machinery and equipment)
- Operating costs (management fees, working capital)
- Consultancy fees (technical, professional, or advisory services)
- Intellectual property protection costs
- Preproduction activities like technology development and commercial demonstrations
- Subcontracting expenses
- Costs for creating and distributing promotional materials and management tools
- Expenses for maintaining assets over a reasonable period
- Specialized services such as testing, R&D, technical or innovation services, sector development strategies, and business networking
Ineligible Project Costs
Costs that are not directly related to the project or deemed excessive are not eligible for reimbursement. These include, but not limited to:
- Basic R&D (Technology Readiness Levels 1-6)
- Land acquisition and goodwill
- Salary bonuses and dividends
- Entertainment and lobbying expenses
- Refinancing existing debts
Application Deadline
Applications for the Regional Quantum Initiative are open on a continuous intake basis, meaning you can apply anytime. However, funding is limited, so it’s advisable to submit your application as soon as possible. Eligible projects can receive funding through March 31, 2028, or until the funding is fully allocated.
How EVAMAX Can Help You Apply
Navigating the complexities of a funding application can be overwhelming, especially when you’re also focused on advancing quantum technologies. That’s where EVAMAX comes in! We specialize in helping innovative businesses like yours to secure non-dilutive funding, from identifying the right opportunities to preparing a winning application. Whether you’re a startup looking to scale or an established organization aiming to commercialize cutting-edge quantum products, our team has the expertise to help you succeed.
Let EVAMAX guide you through the application process, ensuring your project stands out and meets all the eligibility criteria. With our proven track record of securing funding for businesses across Canada, we’re here to help you make the most of the Regional Quantum Initiative.
Ready to get started? Contact us today!
Resources:
Regional Quantum Initiative – Canada.ca
