CDAP Stream 2

CDAP Stream 2: What is what? (key definitions)

September 16, 2022

Version of September 13, 2022

Boost your Business Technology

IMPORTANT DEFINITIONS

Digital Needs Assessment (DNA)

The first step in helping your business thrive in a changing business landscape. Assessing your company’s maturity is an important step to help you determine where your company is in terms of digital progress. Reasons to assess your digital maturity:

Identify your current digital capabilities and needs;
Define your digital roadmap;
Uncover potential improvements;
Evaluate and prioritize investments.

Your Digital Needs Assessment (DNA) is the key initial input for the development of your digital adoption plan by a registered Digital Advisor.

Digital Adoption Plan (DAP)

The Digital Adoption Plan (DAP) is a prerequisite for the BDC loan under CDAP Stream 2 Boost Your Business Technology.

The DAP is a business case made by a qualified consultant to justify the use of the BDC interest-free digital technology adoption loan. The plan provides an overall picture and diagnosis of the business, recommendations on the business areas most likely to benefit from a digital upgrade, a high-level roadmap for implementing the recommendations, and a cost estimate. Optionally, the plan can also make explicit the key features of the digital solutions to be selected, the requirements for successful implementation (funding, change management, skills required), and recommendations related to cybersecurity.

Because each SMB has different needs, the digital adoption plan can be tailored to their specific needs. However, to be compliant with the requirements of the CDAP program, a digital adoption plan must at a minimum contain:

Information about the current state of the SMB that will help the digital advisor understand the SMB’s strategic goals, business and operational process challenges, and the current basis of their digital maturity.
Technology options analysis for SMBs that have some elements of a digital strategy or analysis. With the expertise of the digital advisor, identify the types of digital solutions they should consider and how those solutions align with the business goals and imperatives.
Digital strategy and associated business benefits that take into account the SMB’s governance and culture, business model, key processes that technology can help optimize, current digital strategy, workflows, information and technology capabilities, and cybersecurity maturity.
Implementation roadmap to identify key business actions that need to be completed before adopting digital solutions as well as a proposed list of technology projects or initiatives. To identify key actions to be taken for digital technology integration (e.g., timeline, dependencies, costs, and resources). For the key projects proposed in the roadmap, the advisor will also provide high-level deployment schedules, dependencies, and an appreciation of the costs, complexity, and level of change that will be required to adopt these new technologies.

The DAP must only be completed by an advisor registered with the program to qualify for the Digital Advisor grant. A CDAP Digital Adoption Plan Guide (and template) is available on the program’s website.

If your business is not interested in obtaining a BDC loan, it is still possible to use the grant to obtain a digital adoption plan completed by a qualified advisor. Eligible applicants are under no obligation to apply for the loan once the DAP is completed and the grant is received, just as obtaining the loan is not guaranteed and is subject to BDC criteria.

Digital Advisor

A qualified independent advisor that is authorized by the CDAP program to develop digital adoption plans for eligible SMBs. Digital advisors have formally agreed to comply with the CDAP program code of conduct and all of its requirements. They also act as program promotors to eligible SMBs.

Digital Advisor Marketplace

This system allows applicants to screen and select a digital advisor enrolled in the program for whom the $15,000 grant is eligible.

Grant for the development of a digital adoption plan (DAP) by a Digital Advisor

This grant covers 90% of the fees of a registered advisor on the CDAP Digital Advisor Marketplace (maximum $15,000). The grant can only be used to pay for a digital advisor to develop a digital adoption plan (DAP) and cannot be used to cover any other costs. Payment of the grant first requires submission of the digital adoption plan (DAP) as well as a final invoice from the digital advisor for all costs incurred.

Youth Internship Grant

This grant is available to applicants who have already received the Digital Advisor grant and have filed their digital adoption plan. It allows for the hiring of a post-secondary student or recent graduate (within two years) between the ages of 18 and 30 to support your company’s digital transformation. The Youth Internship grant is up to $7,300 and will be paid as a reimbursement upon proof of salary payment.

BDC Interest-Free Loan

This loan is available to applicants who have already received the Digital Advisor grant and have filed their digital adoption plan (DAP). Eligible applicants may apply for an interest-free BDC loan within up to six (6) months of receiving notification of the grant payment. Receipt of the loan is not guaranteed and is subject to BDC’s eligibility and financial viability criteria. The loan is interest free with a 12 month deferral and repayment over 5 years. The amount of the loan depends on the size and sales of the SMB; from $25,000 to $50,000 for sales of less than $5 million, up to $100,000 for sales of $5 million or more. Also note that the program offers an expedited process for applicants who already have a digital adoption plan in place through an ISDE-recognized digital adoption program and do not need a grant.

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Enjoy your digital adoption!