About Boost Your Business Technology

The Boost Your Business Technology grant offers Canadian-owned small and medium-sized enterprises (SMEs) support to adopt new technologies in order to increase competitiveness and resilience.

Boost Your Business Technology can help get your business online, give your e-commerce presence a boost, or digitalize your business's operations. These grants are designed to help Canadian businesses become more competitive.

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