TORONTO, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The Canada Digital Adoption Program (CDAP) is approaching the half-way mark of its four-year duration. After a slow start and companies struggling with the application process, significant updates have been made and beneficiaries have begun to reap the benefits of digitalization through the digital roadmaps delivered as part of the program.
After the first year of the program, The Globe and Mail reported that, “The Canada Digital Adoption Program (CDAP) has spent just $131 million on grants and loans in its first year, about 3 per cent of its budget, with some entrepreneurs and business groups saying it is complicated and poorly promoted.” Since then, there has been an uptake in promotion and awareness of the program. Application criteria have been modified to make it easier for applicants to apply for the grant and the subsequent interest-free loan.
Innovation, Science and Economic Development Canada (ISED) is now closely monitoring the digital advisors responsible for crafting the program's digital roadmaps. This combination of factors has led to a more streamlined and transparent process.
Digital roadmaps focus on areas that organizations and their advisors have identified as high priority. Tara Bassett, a lead advisor working with Couch & Associates says, “Clients I have worked with have benefited in a range of ways, boosting efficiency and productivity, enhanced market presence, improved customer engagement, lead generation and even futureproofing… I’ve had conversations where clients express that just the process of going through the program and thinking about digital transformation has exposed them to a world of possibilities and got them diving into new categories of technology to improve their business.”
CDAP's journey from its initial challenges to its current successes highlights the program's commitment to driving digital transformation in Canada's business landscape. Through digital roadmaps tailored to each organization's unique needs, CDAP has enabled businesses to improve their operations through modern technology solutions.
Providing financial support while igniting the spirit of innovation and exploration among its beneficiaries, CDAP will continue to empower organizations to harness the full potential of digitalization, contributing to the growth and resilience of Canada's small and medium-sized businesses. With a significant portion of the total $4 billion still available, the program encourages Canadian businesses to check their eligibility and access a share of funding and technical resources.
Contact: Anita Cordeiro - acordeiro@couch-associates.com
