BC Tech Growth Programs
Highlights
This program is designed for businesses like yours to help you grow and scale effectively. Why should you apply? It offers substantial support to tech companies, providing the resources needed to transition from small to medium-sized, and from medium-sized to large. This program is tailored to accelerate your business growth, ensuring you have the tools and guidance to succeed.
What’s in it for you?
- Access to multi-year federal and provincial investment to support your growth.
- Mentorship and networking opportunities with industry leaders.
- Increased visibility and credibility within the tech ecosystem.
How will being approved help you?
- Accelerate your business growth with targeted support.
- Create more tech jobs and contribute to the local economy.
- Increase diversity in your talent pool.
Qualifying for this program is straightforward, and it’s a unique opportunity to gain a competitive edge. Apply now to take your business to the next level.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates applicable.
Eligible Expenses:
- Research and development costs.
- Marketing and promotional activities.
- Purchase of equipment and technology.
- Training and development programs for staff.
- Operational costs related to scaling up the business.
Ineligible Expenses:
- Personal expenses.
- Debt repayment.
- Real estate purchases.
- Any expenses not directly related to business operations.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a tech company based in British Columbia.
- Must be a start-up or a scale-up business.
- Must be looking to grow from small to medium-sized or from medium-sized to large.
Must be interested in participating in accelerator programs.
Disqualifications:
- Businesses not based in British Columbia.
- Businesses outside the tech industry.
Description
This program offers your business a chance to receive up to $1,000,000. You can use this money to grow and improve your operations.
You can allocate up to $500,000 of this amount for:
- Buying new equipment
- Upgrading your rented space
- Enhancing your IT infrastructure
For other needs like software or day-to-day operations, you can get up to $150,000.
The government guarantees 85% of the loan, giving you a strong safety net.
Flexible repayment options are available. You can choose a variable interest rate, a fixed rate, or a combination of both.
You have up to 15 years to repay the loan, regardless of how you use the funds.
Program Steps
Register Your Interest: Visit the program's website and register your interest in joining the next cohort. This will ensure you receive updates and further instructions.
Complete the Application Form: Fill out the application form provided on the website. Ensure all required fields are completed accurately.
Prepare Documentation: Gather the necessary documents to support your application. These typically include:
- Business Plan
- Financial Statements (last two years)
- Proof of Business Registration
- Detailed Project Proposal
- Resumes of Key Team Members
Submit Documentation: Upload the prepared documents to the application portal or send them via the specified method (email or mail).
Attend an Information Session: Participate in any scheduled information sessions or webinars to understand the program's benefits and requirements better.
Schedule an Interview: If required, schedule an interview with the program administrators to discuss your application and business needs.
Review and Finalize Application: Review your application for completeness and accuracy. Make any necessary adjustments before the final submission.
Submit Application: Submit your completed application and all supporting documents by the specified deadline.
Await Confirmation: Wait for confirmation from the program administrators regarding the status of your application. They may contact you for additional information or clarification.
Prepare for Participation: If accepted, prepare to participate in the program by setting aside time and resources to engage fully in the activities and opportunities provided.