PacifiCan launches a new intake of the Business Scale-up and Productivity program
by CM staff
Funding of $4.6M was also announced for three B.C. businesses to expand and reach global markets.
Photo: CNW Group/Pacific Economic Development Canada.
VANCOUVER — A new intake for PacifiCan’s Business Scale-up and Productivity (BSP) is now open. The new intake will provide no-interest, repayable funding between $200,000 and $5,000,000 per project to support high-growth firms to scale-up, expand and commercialize new technologies, improve productivity, and enter or grow in international markets.
Applicants have until September 22, 2023 to submit an expression of interest through PacifiCan’s website.
To date, 64 projects have been announced under the PacifiCan BSP program for a total of $134.5 million.
“British Columbian businesses have the ingenuity to solve global challenges and create a prospering economy,” Harjit S. Sajjan, Minister of International Development and Minister responsible for PacifiCan. “PacifiCan is here to propel their growth. The Business Scale-up and Productivity program will give businesses the boost they need to reach new markets and thrive on the world stage.”
PacifiCan supports innovation, business growth and community economic development in British Columbia. Through targeted funding programs, PacifiCan invests in growing companies poised to strengthen B.C.’s position as a leader in growing sectors such as clean technology, life sciences and digital industries.
At the same time, BSP funding of over $4.6 million was announced for three B.C.-based businesses, including funding of over $1.3 million for Pela, a Kelowna-based business with a mission to create a waste-free future for the planet by developing products made of environmentally sustainable materials, like phone cases. With BSP funding, Pela will expand international sales, improve its manufacturing capacity and hire new staff. More details about the businesses receiving funding today can be found in the backgrounder in the section below.
“We are thrilled to be partnering with the federal government through PacifiCan and the BSP program,” said Jeff Keen, Chief Operating Officer, Pela. “This funding will accelerate the expansion of our domestic manufacturing and global distribution capabilities, create local employment opportunities and further the progress towards achieving our aggressive sustainability goals. This partnership is a clear signal the federal government recognizes the importance of supporting innovative Canadian businesses who are developing and commercializing cleantech and greentech innovation.”
