entrepreneurship@UBC x Pocketed: 7 Grants to Grow your Business in 2022
Do you have big plans to scale your businesses in 2022? Have you considered the capital you’ll need to execute on your plans? Continue reading below to explore 7 grant funding opportunities you can leverage to scale your team.
Starting a venture is no easy feat - and gaining access to funding as an early-stage entrepreneur can be even more challenging. Fresh on the heels of our collaboration announcement with UBC entrepreneur and HATCH venture, Pocketed, a powerful grant matching platform designed to do all the heavy lifting for you, we’re excited to bring to you a guide on the 7 grants to grow your business in 2022.
Since launching in 2021, users have applied for over $80 million through Pocketed and the team has awarded over $10 million to startups through their platform, sharing in our mission of supporting the development of early-stage founders. Founded by Brianna Blaney and Dr. Aria Hahn, the platform unlocks access to the $5.9 billion (!) in grant funding available in Canada that is critical for nascent ventures in our ecosystem to move their innovations forward into impact.
Pocketed works with a rich network of partner organizations to bring non-dilutive funding to Canadian entrepreneurs and start-ups to help further their journeys. The platform helps further the work we do at entrepreneurship@UBC by helping early-stage founders to identify and access grant funding, providing tremendous value to the local innovation ecosystem.
Check out 7 grants that will help you grow your startup in 2022:
1. Digital Skills for Youth (DS4Y)
Deadline: March 31, 2022
The DS4Y program connects underemployed post-secondary graduates with small businesses and not-for-profit organizations where they can gain meaningful work experience to help them transition to career-oriented employment.
This grant offers 100% coverage of mandatory employment related costs up to $24,500 for businesses anywhere in Canada. The grant is applicable to employers hiring youth under 30 into tech-based roles (you don’t have to be a tech company!) and provides an additional $1,000 to pay for professional development initiatives.
2. Project Learning Tree Canada
Deadline: Open Until Filled
This grant is a 50% or 80% wage match up to $32,000 for businesses anywhere in Canada. The grant is applicable to employers hiring youth aged 15 to 30 into green jobs that support nature-based solutions for a more sustainable planet.
3. Innovator Skills Initiative
Deadline: March 11, 2022
The grant allows B.C. tech businesses up to $10,000 per year to hire a business or tech student who isn’t in a co-operative education program.
4. BIO Talent — Science Horizons Youth Internship Program
Deadline: Open Until Filled
Looking to hire a recent STEM graduate for a full-time internship? This wage subsidy can help provide up to 70%, with a maximum of $15,000, for Canadian businesses looking to hire in an environmental STEM field linked to the green economy.
5. ICTC WIL Digital Work Integrated Learning Program
Deadline: March 31, 2022
Canada is filled with post-secondary students looking to make some money and put their talents to use and businesses that need said talent to build their workplace! This grant for Canadian employers offers up to 50% of a student’s salary, with a maximum of $5,000.
If the student falls into an underrepresented category (including women in STEM, Indigenous students, immigrants who immigrated within the last 5 years, students with disabilities, visible minorities, or first-year students), the grant may cover up to $7,500, 75% of the student’s salary. The role must include a digital or technology component.
6. Digital Lift — Tech Internships
Deadline: Open Until Filled
This grant allows individuals to take part in virtual, four-month, paid internships at technology companies across B.C.
Preference will be given to hires who identify as part of the following groups: Indigenous Peoples, women, rural youth, and transitioning workers.
7. Canadian Film or Video Production Tax Credit
Deadline: No Listed Deadline
Ever heard of a tax credit? (In case you haven’t, check out this blog post to learn more!) Tax credits are fantastic ways to grow your business by utilizing governmental refunds. This tax credit is open to Canadian film or video production businesses. If eligible, your business could receive a 25% refundable tax credit on labour expenditures (including hiring!)
The great thing about this tax credit is that there’s no limit on the amount of credit that can be received per production. See? The word tax doesn’t always have to be scary!
*BONUS* 8. The Experience Matters!
Deadline: Open Until Filled
One of the best ways to grow your business is by building the skills and talent of your new hires! This grant can be used by B.C. businesses for paid work experience, employment counselling, job entry skills, certificate training, mentoring, and post-job placement support.
The wage subsidy is up to $2,800.
Ready to get started?
These grants and tax credit programs should give your business the foundation you need to efficiently scale your company in the new year. As proud partners of Pocketed, we love to help UBC entrepreneurs grow their business with some (free) money!
Ventures who are part of entrepreneurship@UBC can benefit with a special promo code through our collaboration with Pocketed. Find more info in our Venture Newsletter and on our slack channels.
Not a team in our community but looking to access Pocketed? You can access their *free* Intelligent Grant Matching Tool!
Find out more on their website