An Exciting Opportunity for Small Businesses!
Canada is ramping up its AI strategy with a groundbreaking $2.4 billion investment aimed at driving innovation and creating jobs within the AI sector. A standout component of this initiative is the $100 million NRC IRAP AI Assist Program, which is specifically designed to support small to medium-sized enterprises in leveraging AI technology to boost productivity and gain a competitive edge. This presents a significant opportunity for businesses to enhance their growth and operational efficiency through AI.
Overview of Investment Structure
Prime Minister Justin Trudeau has unveiled a $2.4 billion initiative in Budget 2024 to advance Canada’s AI sector, encompassing the following key areas:
- Infrastructure and Computing: $2 billion allocated to improve AI research and business infrastructure. This includes the establishment of a new AI Compute Access Fund and a Canadian AI Sovereign Compute Strategy.
- Regional Development: $200 million through Canada’s Regional Development Agencies to support AI startups and accelerate AI integration in agriculture, healthcare, and other sectors.
- Business Productivity: $100 million dedicated to the NRC IRAP AI Assist Program, aimed at helping small and medium-sized businesses implement AI solutions to enhance their productivity.
- Workforce Support: $50 million for the Sectoral Workforce Solutions Program to train workers in industries impacted by AI advancements.
- AI Safety and Regulation: $50 million to establish the Canadian AI Safety Institute for safe AI development, and $5.1 million to strengthen the enforcement of the Artificial Intelligence and Data Act through the Office of the AI and Data Commissioner.
Match Your Eligibility with GetGranted
GetGranted offers a tailored platform to identify grants that align with your company’s specific industry, activities, and goals. This tool is perfect for those in the early stages of their entrepreneurial journey who prefer a DIY approach.
- Secure Grant Funding Independently: Gain the ability to secure funding on your own and use it to recruit and train additional team members.
- Stay Informed: Receive personalized email notifications about relevant grant opportunities, ensuring you are always aware of potential funding options for your business.
- Track Your Applications: Utilize the GetGranted dashboard to manage and monitor your grant applications, keeping all your information organized and accessible.
To see how GetGranted can simplify your search for grant funding and support your business’s expansion, contact us today. Take the first step towards maximizing your funding potential and unlocking new growth opportunities with our Grant Calculator.