BDC Launches $500 Million AI Program for SMEs
The Business Development Bank of Canada (BDC) is launching LIFT, a new initiative with $500 million in funding to help over 1,000 SMEs adopt AI and improve productivity.
The Business Development Bank of Canada (BDC) launched LIFT on April 24, 2026, a program aimed at assisting Canadian small and medium-sized enterprises (SMEs) in adopting artificial intelligence (AI). With a $500 million allocation, the initiative is expected to help more than 1,000 businesses enhance their productivity.
Statistics show that in 2025, only 30% of Canadian SMEs utilized AI, whereas those that did reported 24% higher productivity. BDC's LIFT program seeks to bridge this gap and bolster the competitiveness of Canadian businesses.
The LIFT program will provide eligible SMEs with access to AI expert consultants and flexible financing to support their initial AI adoption phases. It is designed to guide businesses at all stages of their AI journey, from early exploration to the deployment of advanced solutions.
This initiative also aims to strengthen Canada's technology ecosystem by prioritizing locally developed AI tools and expertise. BDC estimates that if all SMEs reached the technological maturity level of the most advanced firms, Canada's gross domestic product (GDP) could increase by up to 14%.