Business Scale-up & Productivity (BSP) Program Stream - Applicant Guide
Table of contents
Part 1 - Program details
- Eligible recipients
- Eligible activities
- Eligible priorities
- Financial assistance
- Eligible costs
- Ineligible costs
- Assessment process
- Application requirements
- Saving and accessing your application form
- Reporting requirements
- Frequently asked questions (faq)
Part 2 - Application form instructions
Western Economic Diversification Canada (WD) reserves the right to modify these guidelines at any time without notice.
Western Economic Diversification Canada (WD) has launched the new Regional Economic Growth through Innovation (REGI) program in western Canada. REGI is a national program delivered by regional development agencies (RDAs) across the country. It comprises two program streams designed to fuel economic growth through innovation and create more well-paying jobs for Canadians.
On December 3, 2018, WD opened the first call for proposals for the REGI Business Scale-up and Productivity (BSP) program stream
The BSP program stream provides repayable, interest-free funding to firms with high growth potential that are pursuing business growth and expansion. These firms are seeking to accelerate their growth by commercializing technology, enhancing productivity, scaling-up, and expanding their market domestically and globally. Incorporated businesses that have been in operation in Canada for over two years, and are proposing projects that fit with WD's priorities are welcome to apply.
Projects should result in the creation of high quality jobs, increase in revenues, and export sales growth. To be eligible for consideration, submitted projects must support one of the following priorities:
- Clean Technology
- Clean Resources
- Digital Technologies
- Advanced Manufacturing
- Value-added Agriculture
- Life Sciences
Under the BSP program stream, firms may apply for a repayable contribution of up to 50 percent of eligible costs. Proposed projects should be no longer than 3 years in duration, and must be supported by a complete application, business plan, recent financial statements, and confirmation of other funding sources. Failure to provide the information in accordance with this guide may render your project ineligible.
In the West, the BSP program stream is a competitive process. Only the strongest applications that demonstrate the highest merit and fit with BSP objectives will be considered for funding. Western Economic Diversification Canada (WD) is accepting applications through a call for proposals with dates to be announced on WD's website. No applications will be accepted outside the intake period.
It is highly recommended that you read this Applicant Guide before submitting an application form. Stronger applications will address all submission requirements and contain sufficient detail to enable WD to thoroughly review and assess your project. Incomplete applications will not be assessed or considered for funding.
The objectives of the BSP program stream are to:
- Assist firms with high growth potential to scale up and expand.
- Support technology demonstration and the commercialization of new technologies.
- Encourage the early adoption or adaptation of leading-edge technologies and processes to improve productivity.
- Increase businesses' capacity to grow through market diversification and entry into global markets.
Applicants must meet the following eligibility criteria:
- For profit, incorporated to conduct business in Canada.
- In operation for a minimum of two years in Canada.
- Have operating facilities and staffed offices located in Western Canada (defined as British Columbia, Alberta, Saskatchewan or Manitoba).
While all sizes of businesses are eligible, preference may be given to small and medium sized enterprises (i.e. less than 500 FTEs).
Activities that accelerate and support business growth will be eligible. These activities may include:
- Productivity Improvement: includes acquiring, adapting, adopting new technologies processes, process re-engineering, improving manufacturing capacity.
- Business Scale-Up: includes market development/expansion, diagnostics, adopting best management practices, processes, and systems, business opportunity development.
- Technology Commercialization: includes late stage product development geared toward market diversification and growth, such as technology showcasing and technology demonstration. (Technology Readiness Levels 7-9).
Projects must have an impact on one of the following priorities:
- Clean Technology
- Clean Resources
- Digital Technology
- Advanced Manufacturing
- Value-added Agriculture
- Life Sciences
For more information on priority areas, visit www.ic.gc.ca/eic/site/098.nsf/eng/home.
- Minimum funding request of $200,000 and maximum of $5,000,000 per project. Only one application per applicant for each intake.
- Applicants may apply for funding of up to 50% of total eligible costs for each project.
- The remaining 50% of eligible cost must be supported from a non-government source, and must be confirmed at time of application and again prior to project approval.
- Total support to any one organization cannot exceed $10 million over the life of the program (2018-2023).
If you are successful in obtaining funding for your project, WD will provide its funding based on submitted claims. WD will reimburse you for the approved portion (e.g. 50 percent) of eligible project costs that you have incurred and paid. Since successful applicants must submit a claim for reimbursement, there will be a delay between the time costs are incurred, and when claimed costs are partly reimbursed. Successful applicants will therefore need to plan their project cash flow accordingly. WD will provide detailed instructions on this process to those Applicants approved for funding.
Claims for incurred costs can be submitted quarterly, and are processed within 15 business days of WD receiving a complete claim package.
Agreements under the BSP will require recipients to repay the entire principal within six years of project completion. Following a one-year grace period after project completion, recipients will be required to make 60 equal monthly payments. Although funding is provided interest-free, interest equal to the average bank rate plus 3 percent will be charged for any late principal payments.
There is no penalty for early repayment.
Other Government Assistance, SR&ED and Other Tax Credits
WD considers tax credits received for activities undertaken between the project start and end date, as a source of government assistance. Such credits are considered for calculating the total amount of government funding that has been provided to a project. Likewise, the Canada Revenue Agency (CRA) may consider funding received from BSP to be government assistance, even though it will eventually be repaid.
Successful applicants who are in receipt of SR&ED tax credits and other similar federal or provincial tax credits for activities defined in the project are required to inform WD. WD may be required to reduce its overall level of project funding to ensure the total amount of government assistance remains at 50 percent of the project.
Applicants are strongly advised to seek independent professional advice to determine the potential effect of BSP funding on project activities for which SR&ED tax credits, or other federal and provincial tax credits, are likely to be sought.
Eligible costs include, but are not limited to:
- Cost of labour (e.g. wages and benefits)
- Capital costs (e.g. purchase of machinery, equipment)
- Operating costs that are directly related to the project (e.g. management fees)
- Professional, advisory and technical services
- Costs related to intellectual property
- Technological development and commercial demonstrations
- Subcontracting costs
- Production and distribution of promotional material and management tools
- Maintenance costs
WD reserves the right to make the final determination on the value of contributions and to exclude expenditures deemed to be ineligible or outside the scope of the BSP.
Costs that are deemed unreasonable, or not directly related to project activities will be ineligible for reimbursement. These include, but are not be limited to:
- Basic and applied research
- Land and buildings acquisition
- Entertainment expenses
- Salary bonuses and dividend payments
- Allowance for interest on invested capital, bonds, debentures, and other debts.
- Losses on investments, bad debts and associated expenses, other projects and contracts
- Refinancing of existing debts
- Amortization or depreciation of assets
- Federal and provincial income taxes, GST (recoverable portion), taxes or surtaxes on excess profit
- Provisions for contingencies or commissions paid to consultants to secure funding
- Lobbying activities
- Donations, dues and membership fees
Costs incurred prior to April 1st, 2019 will not be eligible.
The program will be delivered through a Call for Proposals (CFP) process. You may only submit an application once the intake period opens December 3, 2018. No applications will be accepted after January 25, 2019 at 2PM. (MST). Saved applications that have not been submitted prior to the deadline will not be accessible, cannot be submitted, and will not be assessed. The BSP is a competitive process. All applications will be evaluated on their ability to achieve BSP objectives (see page 3) and on their relative strengths in the following areas:
- Market potential/demand
- Management capability
- Financial capacity
- Economic benefits
- Technology Readiness (tech commercialization projects only)
The application will be used to assess eligibility based on the mandatory BSP criteria, as well as the viability and economic impact of the project. Eligible applicants, whose applications are supported by a business plan, recent financial statements, and evidence of confirmed funding sources, will be included in the pre-screening process. Applications will be evaluated against other proposals received during the intake. WD will notify applicants of the status of their application in February 2019. Application volumes may impact all timelines.
Once applicants have been notified of their status, a WD officer will be in contact with applicants and projects that continue to be under consideration, and will request additional information pertaining to the project budget, costs, and cashflows; information related to the remuneration of shareholders, partners, and management bonuses during the course of the project; and additional information deemed necessary by the officer to complete the assessment. Note also that WD will conduct a credit check (e.g. Equifax) at this point in time. Where required, WD will engage the technical services of the National Research Council's Industrial Research Assistance Program (IRAP) to conduct the technical assessment of proposals.
The Clean Growth Hub (CGH) and Sustainable Development Technologies Canada (SDTC) will also be consulted regarding projects related to clean technology and clean resources. Where possible, the Clean Growth Hub will undertake pathfinding within the federal government to identify other potential sources of funding.WD anticipates project decisions will be made approximately 6 months after the close of the application period (Spring 2019).
Stronger projects will have a complete and sufficiently detailed application, which will allow WD to thoroughly review and validate the information.
Submissions to the program must include:
- A completed BSP Application Form, with a request of at least $200,000 and no more than $5 million.
- A business plan, which addresses each area outlined below. The plan should include clear rationale/assumptions where necessary and must include:
- Incorporation documents demonstrating that your business is incorporated in Canada.
- A description of your business.
- A description of each major product or service your business currently provides, and their value proposition to your customer base.
- A detailed operating/execution plan for implementing the proposed project.
- A description of how your project will impact the value proposition to your current key customer segments and/or how your customer base will grow or change; how it will strengthen revenue or reduce costs.
- A description of your businesses' competitive advantage and how your project will affect your competitive position.
- An analysis of the marketplace (including industry factors, competition, and customers).
- A detailed sales, pricing, and marketing strategy.
- A third party market assessment (if available).
- A description of the management team and corporate governance structure. This should include both the ability to manage day-to-day operations as well as to manage the project. If the management team is not yet complete please comment as to the reasoning, and if applicable, future intentions.
- Technology Commercialization projects are required to complete the Technology Questionnaire, and attach it as part of the application.
- Forecasted income statements and cash flow information for the duration of the project. These statements should be for current operations, for the new project alone and on a combined basis. The forecasts must include all rationale/assumptions on which they are based on, and could include various scenarios such as breakeven.
- Two years of financial statements, as well as interim statements for the current period (i.e. less than three months from the date of this application). The financial statements should be prepared by an external accountant. If externally prepared statements are not available, please provide a rationale as to why they are not available.
- Proof of confirmed funding at the time of application from all other sources, including government and non-government (non-government funding must represent at least 50 percent of the proposed project costs). Note that WD considers proof of confirmed funding to include:
- For funding to be provided by the applicant firm - current bank statements detailing existing cash balances or the unused portion of lines of credit.
- For third-party funding sources - official letters (on letterhead, signed) of confirmed or conditional funding, and/or funding agreements that can be verified.
WD does not consider the following as proof of confirmed funding:
- Forecasted revenues from future activities
- Accounts receivables
- Commitments to raise equity
- Commitments to obtain future bank financing
- Scientific Research & Experimental Development (SR&ED) credit receivables
The following information could also be attached in order to strengthen your application:
- Written endorsement or review of the technology.
- Independent market assessment.
- Evidence of market demand such as purchase orders, letter of intent, etc.
- Productivity analysis for Productivity Improvement projects (if available).
The expectation is that BSP applicants will normally have already sought funding from other sources (e.g., banks, venture capitalists, etc.) prior to applying to WD, and as such, will already possess a written business plan and financial statements.
WD asks all applicants to submit their proposals using WD's online application form. If there is a reason an applicant cannot use the online form (e.g. vision impairment), WD will accommodate with an alternate submission method. An online application can be saved, allowing you to complete it in more than one session. All applications must be submitted before 2 PM (MST) on January 25, 2019.
Here are tips to follow:
Save your application as soon as you can - To do so, the following nine fields on the application form must be completed so that Western Economic Diversification can find the saved application should you require technical support:
- Question 1. Full legal name of your organization
- Question 23. Project Title
- Question 28. Province
- Question 33. Salutation
- Question 34. First name
- Question 35. Last name
- Question 36. Title
- Question 37. Email address
- Question 38. Telephone
- Save frequently – This will help prevent you from losing data that you have inputted in the event there is an Internet interruption or your session is timed out.
Accessing your saved application form
Once you have successfully saved your application, an email will be sent to the email address of the Primary Contact (Question 37 in the Application Form). If the Primary Contact is not the person completing the application, he/she must forward this email to the individual who is. You can only access your saved application with the information (web link) included in this email, therefore it is critical that you save this email.
Upon receiving your saved project application email from WD, please do the following:
- Click on the Application Retrieval Link included in the 'saved' email.
- You will require a GCKey to open your saved application.
- A GCKey is a unique username and password that allows access to, and protects your communication with, online Government of Canada programs and services.
- More information on GCKey is available here.
- If you do not already have a GCKey, you can register for one when opening your saved application for the first time.
- Step 1. Select the "Continue to GCKey" button (this will be the second option on your screen).
- Step 2. Select the "Sign Up" button on the right-hand side of the GCKey login page.
- Step 3. Follow the instructions on your screens to create a username and password.
- Once you have registered for a GCKey, select the "Continue to GCKey" button and input your username/password.
- WD recommends that you create a new (separate) GCKey for each individual application you submit. Creating a unique GCKey for each application allows you to share the GCKey with others in your organization who may need to view the application. In the event another individual must gain access to the saved application, sharing the GCKey is at your organization's risk and discretion. As such, we do not recommend using the Sign-in Partner method using financial institutional partners; however, this option is available for those who prefer it.
It is important to note the following:
- You must save the link contained in the email you receive from WD after saving your application for the first time to retrieve a saved draft of your application. You will not receive another email when saving your work in the future.
- Once you have accessed the saved application form with your GCKey,only that GCKey will be able to access the form. Therefore, it is important that you do not lose your GCKey username and password.
- In the event another individual must gain access to the saved application, sharing the GCKey is at your organization's risk and discretion.
- It is important to remember your GC Key username as it cannot be retrieved if lost. In the event your GCKey username is lost, a new application will have to be started.
- If you experience technical difficulties related to accessing your saved application form, please contact WD at 1-888-338-9378.
- You must click the "Validate/Submit" button at the top of the application form twice to formally submit your application to WD. The first click will validate the fields of your application form. The second click will officially submit the form. A "saved" application that is not formally submitted will be considered incomplete and will not be considered for funding.
- Once you submit your application, you can no longer re-open the form. Be sure to either print a copy or convert it to PDF and save before you submit.
- Always save your application form once the minimum number of fields for saving is complete.
- Always save regularly as the online form does not automatically save.
- Logout when you are finished with the form for the day.
- If you are using two separate GCKeys for any reason, you may need to clear your computer browsing history and delete the cookies after logging out
If you are unable to submit your application using the online application tool, contact a WD Regional Office for assistance. It is recommended that applicants retain their GCKey information as it may be used for reporting purposes if an application is approved.
Submitting your application form
- Save a final version of your application using the 'Save' button at the top of the application form. Please ensure you have attached all required additional documentation (see Section 2 at the end of this document for a complete list).
- Print a copy for your records.
- Select the 'Validate/Submit' button at the top of the application. This begins the submission process by validating all the information in your application meets the edit requirements and is completed without errors. To formally submit your online application to WD, you must select the 'Submit' button a second time.
- Upon successful submission of your application, a confirmation email will be sent to the Primary Contact listed on the form. If the Primary Contact does not receive a confirmation email within 24 hours of submitting, please contact a WD Regional Office. A "saved" application that is not formally submitted will be considered incomplete and will not be considered for funding.
All proprietary data, commercially sensitive information and potentially valuable results or ideas will be protected from unauthorized, inadvertent or untimely disclosure. Information provided by applicants in the application and in all supporting documentation is collected under the authority of the Western Economic Diversification Act. This information will be treated in accordance with that Act and with the Access to Information Act and the Privacy Act.
These laws govern, protect and limit the collection, use and disclosure of personal and confidential information by federal government departments and agencies. Beyond the parties already mentioned above, confidential commercial information will not be shared without the applicant's consent.
All contribution agreements issued under the BSP will include performance indicators to measure the individual project performance and the program's effectiveness relative to objectives. Recipients will be required to submit, along with funding claims, regular progress reports and financial statements to WD throughout the project, from implementation through to the repayment period.
Please refer to our website for more information on the BSP and other WD programs.
|Commercialization||For the purposes of the BSP, commercialization is the process of introducing a new product, process, or service into the market place and is achieved when commercial level sales and/or production are realized.|
|Full-Time Equivalent||The number of full-time employees working for the organization.|
|Government assistance||Funding from any level of government (Federal, Provincial or Municipal). Also includes funding from any organization that is fully funded by government, and does not make investment decisions independent from government or on a commercial basis.|
|Highly Qualified Personnel (HQP)||Canada's Highly Qualified personnel (HQP) are defined as individuals with university degrees at the bachelor's level and above.|
|High Growth Firm||A firm that has or will demonstrate significant revenue growth (e.g. 20% year over year for 3 years)|
|In-Kind Contributions||Contributions toward project costs that do not involve a cost incurred or paid for by the recipient.|
|Project||The group of activities and actions, which are cost-shared, that occurs in the period between the WD Project Start Date and the Project End Date.|
|Repayable Contribution||A repayable contribution is a contribution that will be repaid to WD according to repayment conditions specified in the contribution agreement.|
|WD Project Start Date||This is the date that an agreement between a recipient and the department comes into effect. It can be thought of as the start date for the project as defined by the BSP contribution agreement. The earliest possible start date is April 1st, 2019. WD anticipates project decisions will be made approximately 6 months after the close of the application period.|
PART 2 – Application form instructions
Applicants are strongly encouraged to use the online application form where possible. HTML and PDF versions of the application form are available, but will require applicants to print and sign the documents. In addition, the PDF form cannot be completed electronically.
If you cannot submit your application, and receive the message that it does not meet the mandatory eligibility criteria, please refer to these questions and Sections 3-5 of the Applicant Guide.
You can complete this form in more than one session using your GCKey. Instructions for saving and retrieving your application are available in the Applicant Guide here.
Applications received after the close of the intake will not be accepted.
1. Full legal name of your organization: The legal name as shown on the certificate of incorporation / registration.
2. If operating under a different name, identify the name: Provide the name you are operating under if different from the above
3. Mailing address (Including suite, unit, apt #):
4. Mailing address line 2:
6. Province / State:
8. Postal / ZIP Code:
9. Telephone: The primary telephone number at which you can be contacted. Use the following format: xxx-xxx-xxxx.
10. Fax: The number at which you will receive faxes. Use the following format: xxx-xxx-xxxx.
11. Email address: Include the general email address of your company.
12. Website: Your company's website address (if available).
13. Canada Revenue Agency Business Registration Number (BN): The unique Business Number assigned to you by the Canada Revenue Agency. You must obtain a business number through the Canada Revenue Agency. Information on obtaining a business number can be found at www.canada.ca/en/services/taxes/business-number.html.
14. Date your organization established business in Canada: Provide the date you started business operations in Canada.
15. Number of employees working for your organization: Indicate the number of Full-Time Equivalent employees (FTEs) working for you (and if applicable, any affiliated companies). Part-time employees should be calculated based on their equivalent to a FTE i.e. one part time employee working approx. 20hrs/week should be represented as 0.5 FTE.
16. Operating facilities existing in (check all that apply): Indicate all areas where your business has operating facilities.
17. Is the applicant organization a for-profit company registered in Canada? If you answer NO, you are ineligible for the BSP Initiative.
18. Indicate all that apply: If applicable, indicate whether you are:
- 18a - Incorporated federally
- 18b – Incorporated provincially and if so, indicate the province or territory.
- 18c - Date of Incorporation (attach a copy of your incorporation documents as part of your business plan submission under Question 69).
19. Your organization is headquartered in: select the area that represents the location where your business is headquartered.
20. Is your organization a subsidiary of another company? Respond yes or no.
21. If yes, provide company name and location: Provide the full legal name of the parent company (21a) and select the corresponding location of the headquarters (21b).
22. What sector do you currently operate in? Identify the name of the industrial sector in which your business operates. (E.g. Information Communications Technology; Clean Technology; Clean Energy; Health and Life Sciences; Natural Resources; Aerospace, Defense, and Marine; etc.)
23. Project Title (Maximum 90 characters including spaces): Provide a project title that accurately reflects the activities and outcomes of the project. Should your project be approved, this description will be disclosed on WD's public website as part of its proactive disclosure guidelines. The description should:
- Start with a verb (produce, create, develop, expand, increase, support).
- Concisely capture the essence of the project and, clearly identify the purpose/result expected. The project description must be understandable by anyone.
- Develop infrastructure and expertise for micro and nanotechnology commercialization.
- Support the implementation of a wireless technology demonstration.
24. Project Address is the same as Mailing Address (If checked, the Mailing Address will be automatically entered.):Select if the address at which the project will take place is the same as the mailing address.
25. Project address (Including suite, unit, apt #): If the Project address is different from the mailing address, then enter the location at which the project will take place.
26. Project address line 2:
29. Postal Code:
30. Proposed project funding start date: This is the date that an agreement between a recipient and the department comes into effect. The earliest allowable date will be April 1, 2019. Any costs incurred prior to this date will not be eligible for reimbursement under the terms of the agreement. It can be thought of as the start date for project.
31. Proposed Project End Date: The date anticipated that project activity will cease. This does not include the repayment period and can be up to three years after the project start date.
32. Primary Project Activity: Please select the appropriate category that best reflects the projects primary activity:
- Business scale-up includes market development/expansion, diagnostics, adopting best management practices, processes, and systems; business opportunity development.
- Productivity Improvement includes acquiring, adapting, adopting new technologies processes; process re-engineering; improving manufacturing capacity.
- Technology commercialization includes late stage product development geared toward market diversification and growth, such as technology showcasing and technology demonstration. (TRL 7-9) If you have selected this project activity, you will also need to complete the Technology questionnaire as part of your application package.
Project contact person - the authorized contact person for the project.
34. First Name:
35. Last Name:
37. Email Address:
This is the contact information that will be used by WD for any follow-up to this application. Please ensure that the email address and phone numbers are updated as required to ensure you will be able to comply with WD's timelines outlined in the guide.
Secondary project contact
41. First Name:
42. Last Name:
44. Email Address:
This is the contact information that will be used by WD if the primary contact person is unavailable or unresponsive to any follow-up questions WD may have.
47. Briefly describe your project in plain language. This is important as this section will be used in summary documents to describe your project at various review stages. (Maximum 500 characters including spaces). This should provide an understanding of why you are seeking financial assistance, how you will use the funds, and how the funds will support the commercial objectives of your organization. A suggested opening sentence could be: ABC Company will demonstrate xyz prototype, or adopt technology abc that will enable… etc.
48. Describe your project's objectives and how they meet the objectives of the program. (Maximum 2000 characters includes spaces).
Describe the strategic rationale for undertaking your project, how it fits with your mandate and business model, and will achieve the objectives of the BSP (See page 3).
If you have a technology commercialization project, provide an overview of your technology (product/service/process) that describes what it does and why you believe your technology is innovative. Innovation is defined as "an advance on state of the art as compared to similar commercially available solutions". Highlight the unique advantages of your technology, including where appropriate references to advantages such as total cost, speed to implement, ease of use and adoption, maintenance and support, and stability of technology and company. Describe your value proposition, what the market demand is, and why your technology is needed. Remember to complete and attach the Technology questionnaire to your application if you are submitting a technology commercialization project.
If you have a productivity improvement project, describe the technology, equipment, and or processes that will be adopted and whether the technology is new to your company, the industry, and/or to Canada. Identify if and how the technology/process is leading-edge or innovative. Describe the productivity or efficiency savings that will be realized, and how this will enable your company to grow and expand.
If you have a business scale-up project, describe how the primary actions of the proposed project will enable your company to accelerate growth. What scale of operations do you have now, what scale do you want to achieve and why (e.g. market demand)? What actions do you propose to take to achieve this scale? This could include adopting best management practices, processes, and systems; market development and expansion activities; and business opportunity development.
The funding summary details all sources of funding of the project. The applicant organization and WD are identified on the form. Please enter all other sources of funding in the spaces provided. If you are using the online application form and more space is required, click on "Add new source of funding" and an additional row will be provided. Please note it is mandatory to identify and confirm all other sources of funding.
49. Project funder: Identify all potential funders of the project.
- Source: Where applicable, select the description that best reflects the funding source - Federal, Provincial or Municipal government body, or non-government.
- Confirmed: For each funding source, indicate if the funding has been confirmed through a written funding commitment. In the case where your business (Applicant Firm) is a source of funding, indicate yes if you have cash on hand.
Under each fiscal year column, provide the project funding cash flow for each year please use a commencement date of April 1st and an end date of March 31st to match WD's fiscal year. Total project funding required - If you are using the online application form, this total is calculated automatically.
50. Percentage of confirmed non-government funding (calculated from the data provided above): If you are using the online application form, this percentage is automatically calculated based on the information provided in the table above. If you are using a PDF version of the form, this calculation can be made by taking the sum of all funding identified as "Non-Gov't" divided by the "Total project funding required."
51. It is mandatory that you attach proof of all confirmed funding: Attach proof of all sources of non-WD funding that have been confirmed for your project. Acceptable forms of confirmation include: copies of letters of confirmation, signed agreements and bank statements if any other source please attach and provide rationale as to why it should be considered confirmed.
WD does not consider the following as proof of confirmed funding:
- Forecasted revenues from future activities
- Accounts receivable
- Commitments to raise equity
- Commitments to obtain future bank financing
- Scientific Research & Experimental Development (SR&ED) credit receivables
A minimum of 50 percent project funding is required from non-government sources.
52. Comments on project funding. Specifically comment on the origin and composition of your organization's confirmed funding. (maximum of 500 characters including spaces)
Provide further explanation of the sources of confirmed funding as required. Example: Applicant firm has $XXX in a term deposit which has been allocated for this project.
53. Project Costs
Please list the various costs you will incur in the implementation of the project. Please select the appropriate category from the drop down menu. Note: If funding is approved, all costs will be validated and confirmed through the assessment and claim submission process.
Additionally you may be required to provide evidence that the costs are reasonable for the product/service procured. This may include evidence of multiple quotations or proof of a competitive process. In the assessment process, applicants may be asked to provide this evidence on short notice and within a short deadline and as such it is recommended you have this information readily accessible.
54. What is your highest level of prepared year-end financial statements for the last two years: (Check highest level available) Select the type of Financial Statements prepared by/for you. "None available" will indicate that you do not have financial statements available and will make the project ineligible.
55. What were your revenues from your most recent fiscal year-end?
Provide your most current annual revenue. If your most recent year-end financials is more than 6 months old, you may utilize the most recent quarter and provide annual figures.
56. Has your organization previously received funding from Western Economic Diversification?
Indicate yes, if you have previously received funding under the Western Innovation Initiative.
57. Describe your organizational capacity to complete this project. Indicate how oversight will be provided to the project (maximum 1500 characters including spaces). Reference the number, quality, skills, and experience of your organization that demonstrate its ability to complete this project. Describe the governance structure that will ensure the success of the project, reduce project risk, and improve outcomes.
58. Provide a list of those who will lead the project. Include relevant prior experience, education, professional designations(s), and other achievements. Highlight relevant expertise that will facilitate your project's success. (maximum 1500 characters including spaces). Include a name for each management responsibility area even if the same person holds multiple responsibilities. Briefly highlight each member's academic qualifications and/or professional designations. The years of experience must be provided in a numeric format (e.g. 5, not five) and be relevant to their current management responsibility.
- 58a. Specify the size of the project management team
Indicate the number of individuals that comprise your management team.
- 58b. Specify the number of individuals comprising the project management team who belong to each of the following groups:
If your board or ownership structure consists of any individuals from an under-represented group, please outline that information here. Disclosure of this information is optional. The purpose of collection is to help ensure Government of Canada programming is inclusive and does not negatively impact diverse groups.
59. Is your organization led by a Board of Directors? Indicate yes or no.
60. Identify any strategic or business partnerships with which you are involved with that will assist in supporting your project: Note that multiple partnerships can be selected.
- 60a. If other than "None", explain how the strategic or business partnerships selected above will assist in supporting your project. (maximum 1000 characters including spaces). While not a requirement of the programs partnerships can support a corporation's goals. Outline why your organization has entered into the partnerships it has, the strategic value that they offer, and how critical they are to achieving your goals.
Note that the earliest possible start date for BSP projects is April 1, 2019. The maximum project duration is 3 years.
61. List key activities that occur between the proposed project funding start date and the proposed project funding end date. Key activities are milestones that can be tracked to ensure the project is proceeding as planned. Provide a list of significant activities or project milestones that can be measured and tracked to ensure the project is proceeding as planned. These should be significant milestones that will be used to measure your project's performance over the course of the project. This should not include the milestones that will occur during the period over which you will be repaying the contribution.
62. Comments on key activities (maximum 500 characters including spaces).
Provide further detail on the activities of the project. This should elaborate on the project description that you provided in Question 48.
63. Do you have an independent market assessment or evidence of unmet market demand?
Indicate "yes" or "no". If yes, please attach this independent market assessment in 63a.
- 63a. If yes, attach your market assessment or evidence of unmet market demand.
Attach your independent market assessment here.
64. Does your organization currently do business in the indicated target market/sector?
Respond yes if you currently sell existing products/services to the target market segment that will be the focus of your marketing efforts for the product/service that is the subject of this project.
64a. If yes, for how many years? Indicate the number of years you have been selling in this target market segment.
65. Competitors are operating within:
Select the applicable geographic locations.
66. Describe your competition. (Maximum 1000 characters)
Provide a description of your primary competitors and how you differentiate yourself. Please make specific note of any western Canadian or Canadian competition.
67. Which priority will benefit from the proposed project (select best fit). For more information on priority areas, visit www.ic.gc.ca/eic/site/098.nsf/eng/home
67a. Explain your selection Provide additional detail as to how the selected priority in question 67 will benefit from your project.
68 a-e. Estimate the following direct economic benefits to your organization resulting from the project. Note: these should be measured from the project funding start date to one year following the project completion date. Provide a numerical value. If your project will not achieve the economic benefit, simply put a "0". Note that 68d and 68e should be a subset of 68c. Question 68e is only required if you are submitting a technology commercialization project.
68f. Provide a detailed explanation of how your project will achieve the economic benefits estimated above. Please provide information on any other significant economic benefits that your project could achieve.
Provide a detailed explanation as to how these economic outcomes outlined in 68-a-e will be achieved. Ensure to identify and detail all assumptions to support the reasonableness of your economic outcomes. All projects will be screened for significance of outcomes and the likelihood of them being achieved.
If your project supports the Government of Canada's commitment to inclusive growth (under-represented groups) you may include this in your explanation. Note: recipients will be encouraged to track inclusiveness indicators (i.e., women, Indigenous Peoples, and youth) throughout the project from the project funding start date to one year following the project completion date.
69. It is mandatory that you attach your business plan (including incorporation documents), 2 years of your most recent financial statements, and your forecasted income statements and cashflow.
If you are submitting a technology commercialization project, please also attach the technology questionnaire.
It is important that your review pages 7-9 of this Applicant Guide to ensure various information items are addressed in your business plan and supporting attachments. Incomplete applications will not be assessed and considered for funding.
Authorized official of the applicant organization acknowledgements
I have read and agree with the above applicant acknowledgements and certify that all statements and information furnished in this application are true, complete, and correct to the best of my knowledge. The individual authorized to sign the application on your behalf has reviewed the application and agrees that the information provide is accurate.
Name - Fill in the name of the individual within your company who has signing power / the authority to enter into an agreement. This person may be different from the contact person.
Title - Fill in the title of this individual
Date - If you are using the online application, indicate the date the application was submitted. You cannot change this date.
Signature - Please sign the document. If you are using the online application form, you do not need to provide a signature on the document.
You will have noticed throughout this Applicant Guide that in certain cases it is required that attachments be provided with your application. Please review the list below of possible attachments to ensure you have submitted them all. They are as follows:
- Business plan
- Incorporation documents
- 2 years of current financial statements
- Evidence of confirmation of all other (non-WD) sources of funding
- Forecasted income statements and cash flow complete with rationale and assumptions
- Technology questionnaire including supporting documents (e.g. schematic, process diagram, design document, etc. (if required)
- Independent market assessment (if available)
- Evidence of market demand (if available)
- Productivity analysis (if available)