Are you ready to take your high-growth business to the next level? The Business Scale-up and Productivity (BSP) program in the Prairie provinces is designed to empower innovative businesses like yours to scale, commercialize technology, and boost productivity. Whether you’re aiming to expand operations, explore new markets, or strengthen partnerships, BSP could be the funding opportunity you’ve been looking for! This will ultimately contribute to a stronger, more inclusive economy on the Prairies.
Funding Overview
The program is offered by the Prairies Economic Development Canada (Prairies Can), and provides interest-free, repayable funding to incorporated high-growth businesses.
The program aims to generate significant economic outcomes by supporting projects with a strong, measurable impact. Applicants must provide a clear and viable plan to achieve these outcomes and will be required to quantify and report on key performance indicators, including:
- The creation of highly-qualified personnel (HQP) jobs and non-HQP jobs in Canada.
- Growth in company revenues and export sales.
- Attraction of additional private sector investment.
- The number of new technologies brought to market.
- Sales growth directly resulting from the commercialization or adoption of technologies, where applicable.
Additionally, Prairies Can encourages businesses to contribute to the inclusivity of underrepresented groups, including Indigenous peoples, women, and youth. Applicants are encouraged to highlight their efforts in fostering inclusiveness as part of their project plans.
Available Funding and Eligible Costs
Businesses can receive funding for up to 50% of eligible project costs, ranging from a minimum of $200,000 to a maximum of $5 million per project, and a maximum of $10 million per organization.
Eligible costs are incremental. For example:
- Capital costs such as machinery and equipment
- Labour costs, including wages and benefits
- Marketing expenses
- Intellectual property-related costs
- Professional, advisory, and technical services
- Technology development and commercial demonstrations
Ineligible Costs
Unreasonable costs, or those that are non-incremental and/or not directly related to project activities are not covered under the BSP program. For example:
- Basic and applied R&D (Technology Readiness Level 1-6)
- Land acquisition and goodwill
- Salary bonuses and dividends
- Entertainment expenses
- Refinancing of existing debts
- Amortization or depreciation of assets
- Lobbying activities
- Membership fees and donations
Eligibility Requirements
To qualify for the BSP program, your business must meet the following criteria:
- Be incorporated in Canada
- Operate in the Prairie provinces (Alberta, Saskatchewan, Manitoba)
- Have been in business for at least two years in Canada
- Be a high-growth business (i.e., demonstrate consistent year-over-year revenue increases, typically 20% or more)
- Have staffed operating facilities in the Prairie provinces
- Demonstrate confirmed funding from other sources, with non-government funding representing at least 50% of the project costs
Priority is given to small and medium-sized enterprises (SMEs) with fewer than 500 employees, though larger companies may also be eligible. Priority is also be given to high growth businesses with 20% or higher year-over-year revenue growth.
Activities of Interest
The BSP program targets high-growth businesses that are scaling their operations and producing innovative goods, services, or technologies. Specifically, businesses must be involved in activities aimed at:
- Boosting productivity: This may involve acquiring and implementing new technologies, re-engineering business processes, or expanding manufacturing capabilities.
- Scaling up operations: This can include strategies to enter new markets, improving management practices, or creating new business opportunities.
- Commercializing technology: Focus on bringing new products to market, conducting demonstrations, or showcasing innovations in their late development stages (Technology Readiness Levels 7-9).
Projects should have a duration of up to three years and align with one or more of the following sectors:
- Advanced manufacturing: Development of innovative technologies that create new products, increase efficiency and reduce costs.
- Clean resources: Transitioning to sustainable resource economy in the energy, mining, and forestry sectors while maintaining Canada’s natural resource advantage in the low-carbon economy.
- Clean technology: Processes, products, or services that minimize environmental impact, improve regulatory compliance, or boost global competitiveness.
- Digital industries: Encompassing information and communication technologies, digital media, and content creation sectors.
- Health and biosciences: Including pharmaceuticals, medical devices, biomedical innovations, and disruptive technologies like AI, big data, robotics, 3-D printing, and nanotechnologies.
- Natural resources value-added processing: Enhancing the value of raw materials from the energy, mineral, or forestry industries.
- Value-added agriculture: A broad sector that includes agriculture, fisheries, aquaculture, and food and beverage processing.
Preference is given to projects that focus on key areas such as plant-based food and ingredients production, zero-emission heavy vehicles, and critical minerals processing, offering strategic value in sectors crucial to Canada’s economic future.
Application Deadline
The BSP program accepts applications on a continuous basis, with no set deadline. Interested businesses can submit an Expression of Interest (EOI) at any time, followed by a full application if the project is selected to proceed to the next stage.
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Resources
Business Scale-up and Productivity (BSP) in the Prairie provinces – Canada.ca
