Canada Digital Adoption Program (CDAP)
What is it?
The Canada Digital Adoption Program, also known as CDAP, is a funding program from Innovation, Science and Economic Development Canada aimed at helping small and medium enterprises (SME’s) improve performance through the implementation of digital technologies. Leaders of SME’s often do not have the time or capability to figure out what technology they may need or how to put in into use. As a registered digital advisor, this is what I will help you with.
What do you get?
When completing stream two, you will have access to three components. You begin with a grant of up to $15,000 to help pay for the cost of developing a digital adoption plan. Once you complete the plan, you are elegible to apply for an interest free loan of up to $100,000 and a youth wage subsidy of up to $7,300. These two items are to help you pay for the cost of implementing your plan.
How does it work?
The program follows the steps below. Before completing the plan, you must be approved by CDAP. Once you are approved, we can sign a contract and begin developing your digital adoption plan. Once finished, you will send the completed digital adoption plan along with a copy of the contract and invoices to CDAP for review and approval. You will then typically receive payment in about 30 days. After this, you will receive notice that you are eligible to apply for both the loan and wage subsidy.
- Apply to the CDAP Program and get approved
- Sign a contract with me
- Complete the digital adoption plan
- Submit grant funding request
- Receive grant funds
- Apply for interest free loan
- Apply for youth wage subsidy
1
Apply to the CDAP Program and get approved
2
Sign a contract with me
3
Complete the digital adoption plan
4
Submit grant funding request
5
Receive grant funds
6
Apply for interest free loan
7
Apply for youth wage subsidy
To be eligible for this program, you must fulfill the following requirements:
- Are a Canadian owned for-profit business.
- Have between 1-499 employees.
- Have declared at least $500,000 in revenue in one of the last three tax years.
There are additional requirements and rules that can be found by following the link below:
Why do it?
While the CDAP program delivers excellent value, you may still be unsure of the intrinsic value of the work itself. Just because the government offers you money, does not necessarily mean your company should develop a plan and engage in digital transformation. The following are two fundamental questions that will help you understand why engaging in this type of activity will deliver value to your firm:
Why should you do digital transformation?
Digital transformation is about helping your business perform better. The role of technology is to enable your people to perform better and drive overall improvement in performance. Click this link to read about how Deloitte found that digitally mature companies outperform their less digitally mature peers.
Why do you need a digital adoption plan?
When you go to build a building, do you show up at the worksite and begin working, figuring out what you need as you go? This is unlikely as construction is a long and complex activity whose success relies on detailed planning. You can think of a digital adoption plan in the same way. It is the blueprint to your digital transformation journey.
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