Debates of March 27, 2023 (day 150)
Minister’s Statement 340-19(2): Accelerated Digital Adoption Projects for Tomorrow Fund
Thank you, Mr. Speaker. Mr. Speaker, the Northwest Territories Business Development and Investment Corporation, or BDIC, is excited about business development and digital transformation opportunities in the territory. As we shift to a digital economy where consumers are purchasing more goods and more services online, looking for ecommerce convenience and expecting vendors to personalize offerings, there is a greater need to support businesses to establish or increase their online presence. I am pleased to announce the introduction of the Accelerate Digital Adoption Projects for Tomorrow Fund, or ADAPT, at the BDIC.
The fund is a revamp of the BDIC’s contribution program to assist businesses with digital adoption. This fund can be used in combination with the Canadian Digital Adoption Program, for a total of $5,000 to get online, increase online presence, boost ecommerce or digitalize operations. The federal Canadian Digital Adoption Program provides qualifying NWT small businesses with up to a $2,400 in grants and ecommerce advice to help businesses build their digital capacity. The Accelerate Digital Adoption Projects for Tomorrow Fund is designed to complement the federal funding program with up to an additional $2,600 available in grant funding for a total of $5,000. To deliver its mandate to help create and develop business enterprises in all industries and promote economic development in the Northwest Territories, the Business Development Investment Corporation is committed to finding ways to create value for entrepreneurs that are entering the digital market or expanding their digital presence. Thank you, Mr. Speaker.