PacifiCan — Regional Economic Growth through Innovation — Regional Artificial Intelligence Initiative (RAII) — For profit

Government of Canada, Pacific Economic Development Canada

💻 Technology & Digital Transformation📍 Regional💼 Commercialization🔬 Research🏪 Small Business🚀 Scale-Up

Money for artificial intelligence in British Columbia

Funding

$200,000 - $5,000,000

Deadline

See website

Status

Accepting Applications

What Is This Program?

Eligible companies could receive up to $3 million per project over three years, covering up to 50% of the costs to bring new AI technologies to market and accelerate the adoption of AI to improve human health, environmental health, and/or economic resilie

What Benefits Are Offered?

grantcontributionloan

Funding for businesses commercializing or adopting AI solutions in B.C., and for not-for-profit organizations supporting AI commercialization, adoption, and ecosystem development in B.C. Funding is interest-free and can be repayable for businesses ($500,000 to $3M per project) or non-repayable for not-for-profits ($500,000 to $5M per project). Indigenous organizations have a lower minimum funding threshold of $200,000. Lifetime maximum of $10 million per recipient. Up to 50% of eligible project costs.

Who Is Eligible?

Business Size: small, medium

Industries: artificial intelligence, technology

Region: British Columbia

Demographics: Indigenous

Other Criteria: Incorporated businesses, Not-for-profit organizations (legally incorporated, including industry associations and post-secondary institutions), Indigenous organizations (including Indigenous-led not-for-profit organizations, Indigenous governments, Indigenous Development Corporations and Indigenous-controlled businesses proposing projects that will benefit their communities), B.C. municipalities, municipal-type organizations, provincial organizations or Crown corporations (funding not used for capital or ongoing organizational requirements), Businesses must have operated as an incorporated business in B.C. for at least 1 year, Businesses must operate staffed facilities in B.C., Projects must result in broad benefits for British Columbians, Projects must last a maximum of 3 years, Projects must achieve program objectives and significant economic benefits, Organization must have the capacity to execute the project, including financial capacity and, if applicable, repay funding, Projects must clearly define the market size and show business potential, Projects must demonstrate data readiness, data security and good governance, Projects must include a strategy for responsible AI development and deployment and comply with current and anticipated AI regulation in Canada and target markets, Projects must focus on one or more of: Commercialization of AI technology (TRL 7-9), Advancement of the AI ecosystem in B.C., Adoption of AI technology, At least 50% of project funding must come from non-government sources (for businesses), At least 50% of project funding must come from sources other than PacifiCan (for not-for-profits)