Minister of International Trade Chrystia Freeland recently announced a new program to increase the competitiveness of Canadian companies. CanExport will provide up to $50 million over five years in direct financial support to small and medium-sized enterprises (SMEs) in Canada seeking to develop new export opportunities, particularly in high-growth priority markets and sectors.
CanExport is one of the building blocks of the government’s export strategy: it will help Canadian companies take advantage of opportunities abroad and increase their competitiveness, while creating jobs and growth at home.
CanExport will provide Canadian small businesses with matching contributions of between $10,000 and $100,000 toward export development costs. The new program will benefit hundreds of companies each year over the next five years.
CanExport is being co-delivered by the Government of Canada through an administrative arrangement between Global Affairs Canada’s Trade Commissioner Service (TCS) and the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP). NRC-IRAP has been chosen as a partner for its expertise in providing support and funding to Canadian SMEs.
To be eligible for the program, companies must employ fewer than 250 employees and have annual revenue in Canada of between $200,000 and $50 million. Eligible activities must promote export development and go beyond an applicant’s core activities, as well as represent new or expanded initiatives.
To apply or learn more about the program, please click here.