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Find similar grantsLIFT Initiative is sponsored by Business Development Bank of Canada (BDC). Aims to help Canadian SMEs adopt AI technologies by providing access to AI advisors and financing options.
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Business Development Bank of Canada (BDC) Launches New $500 Million LIFT Program for Entrepreneurs and SMEs to Adopt AI | T-Net News All Breaking International Tech News Post News Release on T-Net Submit Anonymous News Tip T-Net News Submission Guidelines « Account Login » Business Development Bank of Canada (BDC) Launches New $500 Million LIFT Program for Entrepreneurs and SMEs to Adopt AI New $500M program aims to help over 1,000 SMEs adopt AI - with early users already showing 24% higher productivity Vancouver, BC, April 27, 2026--(T-Net)-- The Business Development Bank of Canada (BDC) announced that it has launched a new LIFT initiative to give entrepreneurs a practical path to adopt AI and compete in a more demanding economy, and supercharge Canadian AI adoption.
BDC said in a release that Canada's small- and medium-sized business owners (SMEs) are missing out on the AI advantage . Only 30% of Canadian SMEs used AI in 2025-yet those businesses were 24% more productive than those that didn't. And they say the gap is widening.
Their new LIFT (short for Lead with Innovation and Focus on Technology) program pairs eligible business owners with expert AI advisors and offers flexible financing to kickstart their journey. BDC says the program is designed to support entrepreneurs across the full spectrum , from those just getting started to those ready to scale advanced solutions.
With $500 million earmarked for LIFT , BDC says it is poised to help over 1,000 SMEs leap into AI, boosting productivity in a way business owners can really feel and delivering concrete impact on their bottom line. This new program arrives as Canada asserts its economic sovereignty-building a homegrown tech ecosystem, reducing reliance on foreign technologies, and fostering Canadian innovation from coast to coast.
LIFT prioritizes Canadian-developed AI tools and equipment , offering incentives to adopt homegrown solutions-with Canadian AI experts guiding them every step of the way. Isabelle Hudon, President and Chief Executive Officer, Business Development Bank of Canada (BDC) (Credit: Business Development Bank of Canada (BDC)) "We hear it all the time: SMEs are stretched thin and finding time for AI is a real challenge.
But their competition isn't waiting. Companies using AI are more productive-and LIFT gets SMEs started fast by removing the barriers and delivering practical, real world results." said Isabelle Hudon, President and Chief Executive Officer, BDC.
MéLanie Joly, Minister of Industry and Minister Responsible for Canada Economic Development for Quebec Regions "With the global economy undergoing rapid transformation, Canadian businesses must be able to adapt quickly to new innovations to stay competitive and seize emerging opportunities.
With LIFT, BDC and the Government of Canada are giving entrepreneurs the momentum they need to modernize their operations, boost productivity, and accelerate growth. By providing practical tools, expertise, and targeted financing, this initiative will help strengthen Canada's economy, energize the innovation ecosystem, and ensure that the benefits of these advancements reach businesses in every region of the country."
noted Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. Evan Solomon, Minister of Artificial Intelligence and Digital Innovation "LIFT is about giving small and medium-sized businesses the tools and support they need to harness AI, boost their productivity today, and thrive as the digital economy accelerates.
This is how we ensure Canadian entrepreneurs lead the way-not just keep up." concluded Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario.
What the data shows-and why it matters LIFT is driven by real numbers: if every SME had the same level of technological maturity as the most advanced companies in Canada, GDP could grow by up to 14% according to an upcoming BDC study-underscoring the urgency of action.
And the call to action is clear: while AI adoption alone is associated with higher productivity, BDC research shows that overall SME productivity could rise by up to 38% if businesses across the country reached a very high level of digital maturity, reversing a decades-long struggle to keep pace with our G7 peers.
Designed for businesses ready to scale, LIFT helps eligible Canadian SMEs boost efficiency, resilience, and long-term performance. Start with one project, learn fast, and build unstoppable momentum.
It offers: Digital tools, data infrastructure, cybersecurity, and Canadian AI applications Advanced equipment that drives productivity-automation, robotics, and cutting-edge machinery Expert advisory support to identify opportunities, validate value, and ensure successful implementation Eligible businesses can access loans at competitive rates, ranging from $25,000 to $5 million .
Flexible repayment options - even postponing principal payments for up to two years - let you invest in your future, your way. Conditions apply. To learn more, click here .
BDC focuses on small- and medium-sized business owners, providing them financing, investment, and advice. As Canada's development bank, we also support entrepreneurs who don't fit the traditional mold working with a network of partners and help develop underserved markets to unlock economic potential. Our mission is to build strong, resilient businesses that drive Canada's economic growth.
BDC is a perennial Canada's Top 100 Employer and B Corp certified. Learn more at bdc.
ca See All News Releases From This Company Other Recent Company News Business Development Bank of Canada (BDC) Launches New $500 Million LIFT Program for Entrepreneurs and SMEs to Adopt AI BDC Launches $150-Million Life Sciences Venture Fund, Parimal Nathwani Appointed Managing Partner BDC Boosts Defence Platform Up to $6B After Providing $92M in Financing Since Late December, Names StrongNorth Fund Leader Want More Business Development Bank of Canada (BDC) News?
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Based on current listing details, eligibility includes: Canadian SMEs seeking to integrate AI into their operations. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Flexible financing and expert AI advisory services Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
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The purpose of this FOA is to provide funding for up to four (4) Tribal Colleges and Universities (TCUs) that will provide entrepreneurial development services to Native American communities, focusing on supplying services to socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing SBA resources. Eligible applicants must be Tribal Colleges and Universities as defined in the Higher Education Act HEA 316 (U.S.C. 1059c). Funding Opportunity Number: SB-GC7J-23-002. Assistance Listing: 59.007. Funding Instrument: G. Category: BC,ED. Award Amount: Up to $250K per award.
The purpose of this FOA is to provide funding for up to two (2) private, non-profit organizations that will provide entrepreneurial development services to women, with an emphasis on socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing WBCs for the District of Columbia (DC) and the State of Oregon. There will be one award for each location. Eligible applicants must be private, non-profit organizations with 501(c) tax exempt status from the U.S. Treasury’s Internal Revenue Service and must provide services to the District of Columbia (DC) and State of Oregon. Funding Opportunity Number: SB-OEDWB-23-002. Assistance Listing: 59.043. Funding Instrument: G. Category: BC,CD,RD. Award Amount: $75K – $150K per award.