The Lift Your Business Innovation award helps Canadian-possessed little and medium-sized undertakings (SMEs) embrace new advanced advances to assist with supporting business seriousness. Through the federal Canada Digital Adoption Program (CDAP), it is one of two grants available.
An interest-free loan of up to $100,000 can be used to acquire and implement new technologies, and eligible businesses can use the grant to pay for up to $15,000 worth of services from a digital advisor.
Additionally, grant recipients can apply for a wage subsidy of up to $7,300 to hire a student or recent graduate to assist the SME in achieving its digital objectives. Before applying for wage subsidy funding, eligible businesses must collaborate with an advisor to develop a digital adoption strategy.
As long as they meet the program’s eligibility requirements, SMEs that have been approved for the wage subsidy have the option of hiring a funded employee through the Magnet platform, using the wage subsidy for an existing employee, or hiring on their own. The Magnet stage gives SMEs extra help in distinguishing and employing youth with the significant abilities and gifts for a scope of computerized undertakings and drives.
The Boost Your Business Technology grant can help you digitalize your operations, boost your e-commerce presence, and get your business online. Apply right away to transform your company!