The Canada Digital Adoption Program, known in French as Programme Canadien Adoption Numerique, is a government-led initiative aimed at empowering Canadian businesses and associations to leverage digital technologies, thereby enhancing their competitiveness in the market. This program offers a unique opportunity to procure Glue Up's Association Management Software at a significantly reduced cost, or even free of charge.
Navigating the Canada Digital Adoption Program
Program Scope
Primarily, the Canada Digital Adoption Program takes care of expenditures directly linked to the execution of your association's digital strategy. This encompasses the acquisition or upgrading of IT infrastructure, training employees on novel technologies, securing the necessary materials and support services for tech implementation, and making use of advisory services.
Application Process
The application process for the Canada Digital Adoption Program is a four-step procedure:
1. Registration
Kickstart your digital transformation journey by registering your association on the Innovation, Science and Economic Development Canada's (ISED) website.
2. Crafting a Digital Plan
A digital adoption plan is the cornerstone of your digital transformation. Crafting a comprehensive plan that suits your association's requirements is crucial, and Glue Up can guide you through this process.
3. Plan Approval and Grant Disbursement
Upon the creation of your digital plan, submit it along with your invoices to ISED for approval. Once approved, a Canada Digital Adoption Program grant of up to $15,000 will be dispensed to fund the technologies that will drive your business growth.
4. Loan Application with BDC
Once the digital plan gets a green light, associations can apply for a 0% interest loan (on top of the grant) with the Business Development Bank of Canada (BDC). This can be done through the Canada Digital Adoption Program portal on the ISED website.
The Perks of the Canada Digital Adoption Program
Boosted Digital Capabilities
The Canada Digital Adoption Program is an excellent platform for your association to bolster its digital capabilities, slash costs, and offer an elevated experience to your members.
BDC Loan: Up to $100,000
As part of the Canada Digital Adoption Program, the BDC offers your association a loan amount of up to $100,000. This sizable loan amount allows you to invest in digital transformation without the burden of interest rates.
0% Interest Rate
The BDC loan comes with a 0% interest rate, making it a highly cost-effective option for associations looking to execute a digital adoption plan.
ISED Grant: Up to $15,000
ISED provides a grant of up to $15,000 to cover the advisory fees associated with creating your digital adoption plan.
Why Choose Glue Up?
Glue Up's Association Management Software has already aided numerous associations, including the BC Chamber of Commerce, in achieving their digital objectives. This is the perfect time for your association to capitalize on the golden opportunity provided by the Canada Digital Adoption Program to streamline your operations and augment member engagement.
Considerations Prior to Application
Before you apply to the Canada Digital Adoption Program, consider the following points:
The loan amount you are eligible for is contingent on the size of your association or nonprofit organization. Associations with annual earnings between $500,000 and less than $5 million are eligible for a loan between $25,000 and $50,000. If your association rakes in $5 million or more annually, you can apply for a loan ranging from $25,000 to $100,000.
The loan is only granted after the approval of the digital adoption plan.
Along with an approved plan, associations must also pass BDC's credit worthiness and eligibility checks to secure the 0% interest loan.
The loan must be repaid within five years. Associations also have the option to pay only the interest, and not the loan amount, during the first year.
The task of approving the digital adoption plans and dispensing the grant money lies with Innovation, Science and Economic Development Canada (ISED).
The grant covers 90% of the cost of services that aid in creating your digital adoption plan. However, the maximum grant amount per association is capped at $15,000.
References
For more information, get in touch with Marguerite Fleming, Managing Director, Canada (mfleming@innovationculturegroup.com)
For more details, visit the following links:
In conclusion, the Canada Digital Adoption Program is a game-changer for associations looking to embark on their digital transformation journey. It offers financial support and guidance to aid in the smooth transition into the digital world. So, seize this opportunity and take the plunge into the digital era!
