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New $500M program aims to help over 1,000 SMEs adopt AI — with early users already showing 24% higher productivity
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MONTREAL, April 24, 2026 (GLOBE NEWSWIRE) — Canada’s small- and medium-sized business owners (SMEs) are missing out on the AI advantage. Only 30% of Canadian SMEs used AI in 2025—yet those businesses were 24% more productive than those that didn’t. And the gap is widening.
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The Business Development Bank of Canada (BDC) has launched its new LIFT initiative to help close it, giving entrepreneurs a practical path to adopt AI and compete in a more demanding economy. The goal is clear: supercharge Canadian AI adoption and give SMEs a fighting chance to outpace the competition.
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Breaking down barriers to AI adoption
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Too many entrepreneurs know AI matters but are stuck at the starting line. BDC is removing these barriers: LIFT—short for Lead with Innovation and Focus on Technology—pairs eligible business owners with expert AI advisors and offers flexible financing to kickstart their journey. LIFT isn’t for tech experts—it’s designed to support entrepreneurs across the full spectrum, from those just getting started to those ready to scale advanced solutions.
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Fuelling productivity gains for 1,000+ Canadian entrepreneurs
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With $500 million earmarked for LIFT, BDC is poised to help over 1,000 SMEs leap into AI, boosting productivity in a way business owners can really feel and delivering concrete impact on their bottom line.
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Boosting Canada’s homegrown tech companies
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This new program arrives as Canada asserts its economic sovereignty—building a homegrown tech ecosystem, reducing reliance on foreign technologies, and fostering Canadian innovation from coast to coast. LIFT prioritizes Canadian-developed AI tools and equipment, offering incentives to adopt homegrown solutions—with Canadian AI experts guiding them every step of the way.
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“We hear it all the time: SMEs are stretched thin and finding time for AI is a real challenge. But their competition isn’t waiting. Companies using AI are more productive—and LIFT gets SMEs started fast by removing the barriers and delivering practical, real-world results.”
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—Isabelle Hudon, President and Chief Executive Officer, BDC
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“With the global economy undergoing rapid transformation, Canadian businesses must be able to adapt quickly to new innovations to stay competitive and seize emerging opportunities. With LIFT, BDC and the Government of Canada are giving entrepreneurs the momentum they need to modernize their operations, boost productivity, and accelerate growth. By providing practical tools, expertise, and targeted financing, this initiative will help strengthen Canada’s economy, energize the innovation ecosystem, and ensure that the benefits of these advancements reach businesses in every region of the country.”
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—The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions
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