News Summary

The Business Development Bank of Canada (BDC) has introduced a $4-billion Defence Platform aimed at boosting Canadian defence technology companies. This initiative includes $3.5 billion for financing and advisory services to help businesses scale and participate in major defence contracts and national projects focused on sovereignty. An additional $500 million will be allocated through venture capital streams, including the StrongNorth Fund, Catalyst Innovation Fund, and indirect investments in VC funds aligned with Canada’s defence and sovereignty priorities. BDC’s support will prioritize sectors critical to national security, such as manufacturing, robotics, critical minerals, quantum computing, aerospace, cybersecurity, AI, and dual-use technologies. This platform is part of a larger federal effort to increase defence spending to 5% of GDP by 2035, with BDC CEO Isabelle Hudon emphasizing the need to support entrepreneurs in accessing capital and navigating complex supply chains.