Vancouver, British Columbia - PacifiCan
To support B.C.'s boldest and brightest changemakers, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), is announcing that a new intake for PacifiCan's Business Scale-up and Productivity (BSP) will open today.
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. That includes three new projects announced today. The Minister announced BSP funding of over $4.6 million 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 here.
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.
