Regional Artificial Intelligence Initiative in B.C. - Funding overview
Not currently accepting applications
1. Funding overview
The Regional Artificial Intelligence Initiative is open to both incorporated businesses and not-for-profit organizations.
Incorporated businesses
Funding:
- Interest-free repayable contributions of $500,000 to $3 million per projectFootnote *
- Lifetime maximum of $10 million per recipient
- Up to 50% of eligible project costs incurred
Repayment terms:
- Begins one year after project completion
- Repaid in monthly installments over five years
- No collateral required or penalty for early repayment
Funding source:
- At least 50% of project funding must come from non-government sources
Not-for-profit organizations
Funding:
- Interest-free non-repayable contributions of $500,000 to $5 million per projectFootnote *
- Lifetime maximum of $10 million per recipient
- Up to 50% of eligible project costs incurred
Repayment terms:
- Repayment not required for non-commercial projects
Funding source:
- At least 50% of project funding must come from sources other than PacifiCan
Eligible costs
Funding can cover essential project costs including:
- wages and benefits
- equipment and machinery
- marketing
- technology development and commercial demonstration costs (Technology Readiness Level 7-9)
- intellectual property costs
- professional, advisory and technical services
All costs must be reasonable, incremental and essential to the implementation of the project.
Ineligible costs
Funding does not cover unreasonable, non-incremental or unrelated costs including:
- basic and applied research and development (Technology Readiness Level 1-6)
- land and buildings
- salary bonuses and dividends
- hospitality and entertainment experiences
- refinancing of existing debts
- losses on investments
- amortization or depreciation of assets
- taxes
- lobbying and advocacy activities
- membership fees and donations
- costs incurred before the Project Funding Start Date
Additional considerations
- Consult a financial advisor about tax and other implications of receiving funding.
- Other government assistance includes Scientific Research and Experimental Development (SR&ED) tax incentives. Exclude SR&ED eligible costs from your application when possible.
