About Boost Your Business Technology

As of February 19, 2024, the Canada Digital Adoption Program (CDAP) Boost Your Business Technology grant is closed. If you have already received your grant, you are still eligible to apply for a wage subsidy. Magnet will continue to accept applications for the wage subsidy from organizations with approved CDAP Boost Your Business Technology grant agreements. For more information, please refer to" ISED’s webpage or consult the FAQs page

In addition to helping your business scale up its technology and become more resilient and competitive, the program also offers wage subsidies to hire multiple youths to support the implementation of new technology and strategies.

Components of the Boost Your Business Technology Grant

Businesses with a completed Digital Adoption Plan that have been approved and paid by Innovation, Science and Economic Development Canada (ISED) can access the following benefits with the Boost Your Business Technology Grant:

Magnet Wage Subsidies

Opportunity to hire one or multiple youths to support the implementation of their Digital Adoption Plan. Businesses can receive multiple wage subsidies of up to $7,300 per eligible youth through the funded work placement.

BDC Loan

Access to apply to a 0% interest loan of up to $100,000 from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology.

Eligibility

Businesses with a completed Digital Adoption Plan that have been approved and received payment from ISED can access wage subsidies from Magnet of up to $7,300 per youth to implement their Digital Adoption Plan

Youth Eligibility Criteria:

  • Be aged between 18-30.
  • Canadian citizens, permanent residents, or refugees with the right to work in Canada.
  • Each youth can complete only 1 Boost Your Business funded-work placement.

Frequently Asked Questions

Learn more

For additional support and inquiries, please contact boostyourbusiness@magnetnetwork.ca