Early February the Canada Digital Adoption Program (CDAP) announced the close to the Stream 2 Boost Your Business Technology program, which offered a $15,000 grant to help Canadian SME’s in areas of digital adoption and transformation.
As CDAP draws to a close, Canadian businesses may find themselves facing disappointment with the news that the Boost Your Business Technology grant is fully subscribed and no longer accepting new applications.
This development is particularly disheartening for organizations that have only recently recognized the value of this digital transformation subsidy but have not yet had the opportunity to apply for funding.
Nevertheless, Canadian SME’s who had applied and approved for the grant and onto the next step to find a CDAP Digital Advisor to work with, or businesses that are already on its way working on their Digital Adoption Plan, are still eligible for the grant.
MJ Digital remains steadfast in its commitment to supporting Canadian small businesses on their journey toward digital transformation. Despite the conclusion of CDAP, we are dedicated to providing continued assistance to businesses seeking to embrace digital technologies and solutions.
What’s next?
In this post, we will examine the recent changes to CDAP as of February 19, 2024, and introduce a new cost-effective digital adoption service offering designed to cater to those who SMB’s and SME’s who were unable to participate in the CDAP program.
Recent changes to the Canada Digital Adoption Program
With the conclusion of the Boost Your Business Technology grant, the federal government has ceased accepting applications for the $15,000 in federal subsidies. However, organizations that submitted applications before February 19, 2024, remain eligible for consideration, pending the outcome of their applications. Additionally, the government will continue to honor claims for organizations with pre-existing grant agreements completed within the eligibility window.
Funding opportunities for CDAP alumni
Despite the closure of the Boost Your Business Technology grant, businesses that were previously approved for funding or have completed a digital transformation roadmap can still access financial support beyond February 19, 2024.
This includes the $7,300 wage subsidy for hiring students or recent graduates, as well as the $100,000 interest-free loan opportunity through the Business Development Bank of Canada (BDC).
MJ Digital’s continued commitment to supporting small and mid-sized businesses:
MNP Digital remains steadfast in its dedication to supporting small and mid-sized companies in their digital transformation endeavours. We are fully committed to fulfilling all client engagements initiated through the CDAP program, including those with approved applications where work has yet to commence.
Additionally, we stand ready to assist businesses in implementing digital transformation plans developed through CDAP, irrespective of whether these plans were originally formulated with MJ Digital’s involvement.
Introducing the Digital Adoption Accelerator
The surge in demand for CDAP funding has underscored the ongoing need for digital adoption guidance and support across Canada, particularly among small to mid-sized businesses. Recognizing this need, MJ Digital is pleased to introduce our Digital Adoption Accelerator program. This comprehensive and cost-effective solution will mirror many aspects of the CDAP program (excluding grants and additional funding) and will offer the following services:
- Business needs assessment: A thorough review of your operations, current technology infrastructure, and business strategy to identify opportunities for digital transformation and prioritize initiatives accordingly.
- Technology options review: Evaluation of various platforms and capabilities to support your budget and business objectives, accompanied by a detailed cost/benefit analysis of top options.
- Solution option review: Evaluate short-term and long-term strategic goals of your business, challenges and paint points and provide a strategic plan to help close the gap between your current state, and future state. This may entail comprehensive digital marketing through appropriate digital customer channels, operationalizing business data, enablement of new capabilities or technologies as automation, accomplish scale, lower the cost to serve and streamline processes
- Strategy and roadmap development: Creation of a comprehensive digital strategy outlining actionable steps, timelines, and resource allocations to achieve both short-term and long-term transformation objectives.
- Execution and implementation support: Project management, onboarding assistance, and infrastructure management to ensure smooth execution of digital adoption initiatives and realization of desired outcomes.
Businesses can tailor their engagement with the Digital Adoption Accelerator program to suit their specific needs, ensuring that transformation initiatives are not only affordable but also closely aligned with their internal capabilities and strategic objectives.
Stay tuned for full details of our Digital Adoption Accelerator program, coming soon.
At MJ Digital, we remain committed to empowering businesses across Canada to embrace digital transformation and thrive in an increasingly digital world.
