Business immigration to Canada: how to get money for development?
Do you want to save your initial business investment? Are you launching an art, IT or scientific innovation startup in Canada? Are you interested in business immigration to Canada as an opportunity for active business development?
Read this article to learn about government business support programs in Canada. Programs are implemented by government companies such as EDC, which aim to provide qualified, comprehensive assistance to entrepreneurs doing business in Canada.
We have created for you a series of articles covering this topic. You can see other articles here. So, why is investment immigration so attractive?
By opening a business in Canada, you get the opportunity to use a huge number of government programs. Grants, attractive loan conditions (up to interest-free loans), expert advice and much more are available.
Account Performance Security Guarantee
This is a program from EDC that allows entrepreneurs to be more flexible in managing their own funds. A business in Canada has the opportunity to free up cash flow by guaranteeing the security of the account. As a business owner, you will be able to issue letters of guarantee without having to provide cash or credit to your financial institution as collateral.
We will help you obtain a 100% guarantee from your financial institution on any bonds it places on your behalf.
New opportunities. Government support means you can be confident in your endeavors. Do business in Canada knowing you have received direct guarantees from your financial institution.
Decrease in the share of own investments in business. Minimize the capital you need to provide to your financial institution by obtaining guarantees in your name.
Getting the best terms of delivery. Provide your suppliers with more flexible terms of cooperation and make more profitable deals.
Profit protection. Cover your bonds at a predictable predetermined rate and calculate the contract value correctly from the start.
The program makes available 100% of the relevant contractual and financial guarantee letters related to:
guarantees from suppliers
Eligibility is determined by EDC based on:
management, technical and financial capabilities of your company
consideration of a letter of guarantee
conditions and economic prospects in your client’s country, as well as the client’s profile
Development in the field of arts
In Canada, special attention is paid to art assistance. For instance, the country has a “Support for artistic practice” program. The program has a special sector, a “Sector for innovation and development”. It sponsors groups, organizations and cultural diplomats to implement projects aimed at developing and improving the artistic field. Grants encourage initiatives that strengthen support for artists.
What grants you can apply for:
project grant (funds for one project)
combined grant for 1-3 years for several projects
As an artist, you can also apply for professional development funds through the Explore and Create program. Within the framework of the program, there is a “Professional Development of Artists” direction: it supports creative teams and independent authors.
Grants fund activities that contribute to the professional development of people working in any artistic discipline.
You may be eligible for assistance after you apply if you are experiencing difficulties and identify as: deaf, hard of hearing artist, disabled or mentally ill.
Digital Art Development Grants
If you are working in the digital arts industry, you might be interested in the Digital Strategy Fund grant.
The Public Access to the Arts and Citizen Engagement grant program provides funding and investment in arts-related businesses to artists, art groups and organizations. The aim of the program is to introduce people to art through digital means. The program aims to improve public access to cultural events, as well as to help ordinary people take an active part in their preparation.
Applicants applying for amounts up to $50 000 can now apply any time of the year.
The project supports innovative digital initiatives that help:
diverse segments of society to gain a multifaceted experience of communication with the art world
works of art to reach a broad audience both within the country and abroad
citizens to be actively involved in artistic processes
improve people’s access to art at all levels
As an initiator, you may have a variety of needs, and they may span long periods of time. Therefore, as a candidate, you can apply for a grant for a project that will be implemented in one or more stages.
Our specialists always promptly respond to all innovations in the programs. After all, any of your initiatives will require a preliminary expert assessment. And here we are at your service! We will help you get the most up-to-date information that will allow you to optimally distribute your efforts to participate in government grant programs. You can contact us right now for a prompt free preliminary consultation.
Categories of applications
Short-term promotions or long-term large-scale events, everyone has the opportunity to receive a non-returnable business investment under the program.
Events should not just cater to the interests of one artist or their group. These should include, but not be limited to initiatives in which:
developing and researching innovative solutions to make art more accessible. Such digital solutions should be designed to maximize the dissemination of art, make it accessible, popular and in demand. After all, the more people are involved in art, the culturally richer society becomes. And the IT sphere is greatly encouraged to meet the challenge of such enrichment. The program considers such projects: consulting and joint development of solutions with citizens, testing new ideas and bringing them to the level of a minimum viable product, developing a user-friendly design of IT products, etc.
introducing new initiatives to improve digital accessibility and access to art. The program is aimed at enhancing the positive perception of art by people, instilling in them an interest in art and their involvement in its creation process. Initiatives can be related to: open source development, digital interaction, storage and distribution of metadata, etc.
strengthening, optimizing or expanding existing digital initiatives with preparatory activities and developments to ensure their long-term viability.
Events that address the digital challenges and opportunities of artistic practice are eligible if the focus is not on the creation and production of artistic works itself.
Limitations on applications
You cannot apply for the following activities, including but not limited to:
iInitiatives to research, create, produce or program works of art
initiatives with the ultimate goal of digitizing documents, collections or archives
repetitive or ongoing activities, such as managing social media or day-to-day operations
creating or updating personal, corporate or institutional websites
buying or renting off-the-shelf technology tools or solutions (e.g. ticketing systems, customer relationship management software)
updating of existing computer or technological equipment and hardware infrastructure
hiring permanent staff
activities to develop artistic skills
activities carried out in the interests of an individual organization, artist, group or collective
activities already supported by the Council of Canada
Under the program, you can get a non-returnable business investment in the amount of $50 000 up to $500 000.
One-stage projects can get up to $250 000, while multi-stage projects can get up to double the amount.
Grants for other types of IT projects
You can get a grant that covers up to 40% of the cost. Costs can be associated with research partnerships using technologies that provide access to information via telecommunications (ICT). Through the program, you can combine disbursed funds with funds received from other programs (such as NSERC or MITACS). In total, such injections can cover up to 80% of the total project costs.
Application acceptance process
Contact us for help in drawing up a clear, competent and modern presentation of your administration project. Together we:
choose the most relevant application form
write and submit an application according to the previously formulated instructions
The application is submitted to the investment committee, after which it is studied, and a corresponding recommendation for financing is submitted to the Board of Directors.
After the recommendation is successfully reviewed, it is sent to the Economy, Science and Innovation Canada for approval.
If you are issued a non-refundable business investment, you will be required to provide an intellectual property agreement that you enter into with your institutional partner.
Funding to improve supply chains with AI
The State of Canada encourages projects to improve supply chains using artificial intelligence technologies. The country is betting on the widespread intellectual improvement of supply systems, marketing chains, interaction with suppliers and customers.
With the Scale AI program, you are given the opportunity to take AI out of the laboratory setting into the realities of modern business in Canada.
This government funding program helps improve its AI products and services, and helps implement AI go-to-market strategies to increase revenue.
Whatever industry you work in, we can help you implement AI so you can improve your competitiveness and enhance the attractiveness of your business in Canada. We will help you competently develop and obtain project approval and reimburse up to 50% for the introduction or commercialization of AI for marketing systems.
Which projects receive funding
Projects must be innovative enough. Innovation can be introduced at any level of the supply chain. For example, such decisions concern:
supply chain operators
supply chain solution providers
AI and digital technology providers
resource utilization and inventory planning
demand forecasting and planning
planning and predictive failure analysis
advanced search and purchasing
automated in-plant logistics / warehousing
Business sector can be almost any.
If you are interested in business immigration to Canada, be sure to study in advance the prospects for obtaining financial support from the Canadian administration. If you want to buy a business in Canada or open a company in Canada, in both cases you have the opportunity to receive substantial financial and expert support.
Contact us for advice! Our experts will conduct a preliminary consultation for you free of charge. Be aware of your real possibilities!