Canada Digital Adoption Program (CDAP)
We at Salmon Arm Bookkeeping realize the benefits that the CDAP program can provide our clients. As a result, we have aligned ourselves with Catalyst Strategies Consulting, Certified Digital Adoption Advisors, and trusted advisors in strategic planning and organizational transformation. Catalyst Strategies understands the needs of entrepreneurs and their emerging businesses and has worked with several Shuswap-based clients to help them take their businesses to the next level.
In today’s market, adopting digital tools and systems is essential for Canadian businesses to grow and thrive. Whether that means implementing new software, creating a functional e-commerce store, moving your processes online or launching an online marketing campaign that converts, your business will benefit from a strong digital foundation.
The Canada Digital Adoption Program (CDAP), funded by the Government of Canada, helps small and medium-sized enterprises adopt digital technologies to increase their competitiveness.
CDAP can give you up to $15,000 to get advice and up to $100,000 in interest free loans from the Business Development Bank of Canada (BDC) to implement the technologies that can propel your business forward.
This program is for for-profit enterprises who have had at least $500,000 in revenue in one of the last three years. The funds will be committed over four years, but could potentially be accessed sooner.
Pre-qualify in just two minutes!
Get started on your application today by filling out our two-minute pre-qualification form to determine your eligibility. We’ll be in touch within a single business day to answer questions and walk you through the first steps.
James Grieve, Senior Business Advisor, MBA, CMC, CCXP, CSP
James is a Certified Management Consultant (CMC) with a can-do approach to business. James is passionate about business strategy, and his experience and expertise in working with large and small organizations in a variety of industries has developed his keen understanding of how to analyze organizations, diagnose challenges, and uncover the blind spots in all aspects of your business that may be hindering optimum performance.rnrnTaking a whole-systems approach, James leads teams to design, deliver, and implement business strategies that streamline processes, capture value, improve operational efficiency and effectiveness, and provide distinct competitive advantages for our clients.
How to Apply for CDAP
Does your Business Qualify?
Eligible businesses must:
- Be incorporated at the provincial or national level; or be a Canadian resident sole proprietor.
- Be privately-owned for-profit entity.
- Have a maximum of 499 full time equivalent employees.
- Have at least $500,000 and not more than $100 million in revenue in one (1) of the past three (3) tax years.
Get started on Innovation, Science and Economic Development (ISED) Canada’s website, ised-isde.canada.ca/ site/canada-digital-adoption-program.
Build a Plan
Build your digital plan with the help of Catalyst Strategies, an ISED approved partner.
Once ISED validates the plan, submit your invoices to receive a 90% reimbursement ($13,500) to cover advisory fees (valued at $15,000).
Apply for your BDC loan
Once your plan is approved, use a personalized link sent to you via email to apply for an interest free loan of up to $100,000 from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology. In addition, applicants can leverage the help of skilled post-secondary students and recent graduates through subsidized work placements.
Frequently Asked Questions
- Do I need Catalyst Strategies to apply for CDAP, or can I do it on my own?
You can apply for CDAP on your own through the Innovation, Science and Economic Development Canada website. However, the Catalyst Strategies team is equipped to guide you through the process from application to implementation, ensuring you don’t miss a beat anywhere in between!
- What part of the program will Catalyst Strategies help me with?
We’ll guide you through the application process and, once you’re approved, our team of certified consultants will be responsible for developing your business strategy and digital adoption roadmap. We’ll work with you to determine your goals and priorities, what’s working and what needs improvement and what actionable steps you need to take to exponentially grow your business. In 5-6 weeks, we’ll map your digital transformation and deliver the details to you in the form of a comprehensive strategy document.
- How long will it take to develop my business strategy?
Depending on the scope of your business needs and the flexibility of your schedule to meet and contribute to the strategy work, we can generally have your strategy completed in 5-6 weeks.
- How long will it take to get my BDC loan?
You can apply for your Business Development Bank of Canada (BDC) loan (up to $100,000) once you complete your strategy work with us. The funds will be committed over the course of four years, but could be accessed earlier depending on how quickly you’re able to submit your application.
- What happens after I get my strategy?
While our work ends once the strategy portion is completed, we’ll help you put together the team you need to implement the work. We have a list of trusted agencies and firms that can help you implement the action items outlined in your strategy.
- What can CDAP funding be spent on?
The grant you receive upon successfully applying for CDAP can only cover strategic and advisory services. You can apply for up to $100,000 in interest-free loans (payable over five years) after your business strategy is complete, which can be used for any costs associated with implementing your business strategy and digital adoption roadmap. This could include technology acquisition, website/e-commerce development, digital marketing, and more.
- Do I get the grant money up front?
Funds are reimbursed by the Government of Canada upon project completion. You will be able to submit your invoices and claim back 90% of the cost, up to $15,000. In our case, you’ll be billed $15,000 and receive $13,500 back.
Find out your Options
Learn more about the CDAP program by simply filling in the form. Catalyst Strategies Consulting will be in contact with you within one business day to discuss next steps.