Under the current global and economic conditions, leveraging multiple government funding sources is critical for business survival. Various federal and provincial programs can be combined or “stacked” to maximize funding, as long as costs are separated and the criteria for each program are being met. In addition, Canadian technology companies that are developing innovative solutions to help fight COVID-19 can currently access various federal and provincial funding programs to support these R&D initiatives. To follow are some programs that the federal government is currently supporting:
| Funding | Amount | Application deadline | Objective |
| Canada Emergency Wage Subsidy (CEWS) | 75% wage subsidy for up to 12 weeks (Retroactive from March 15, 2020, to June 6, 2020) | Starting April 27, 2020 | Enable Canadian businesses to re-hire workers that were laid off as a result of COVID-19, prevent further job losses, and resume normal operations following the crisis. |
| Temporary Wages Subsidy Program | 10% wage subsidy up to $1,375 per employee (and $25,000 per employer) | March 18, 2020, to June 19, 2020 | Allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). |
| EDC and BDC loans- under the Business Credit Availability Program (BCAP) | Varied | Ongoing | Help Canadian businesses obtain financing during the current period of significant uncertainty. |
| Canada Emergency Commercial Rent Assistance (CECRA) | 75% Rent reduction | Applicable from April through June | Lower rent for small businesses that have been affected by COVID-19. |
| Innovative Solutions Canada – Challenge Stream COVID-19 | Varied | Indefinite | Develop new solutions from an early stage of development to combat COVID-19 and other similar threats. |
| Innovative Solutions Canada – Testing Stream COVID-19 (formerly Build in Canada Innovation Program) | $550K/$5M | Call for Proposals in Spring-Summer 2020. | To find and buy pre-commercial prototypes that are ready for deployment and tested to combat COVID-19 and similar threats in operational settings. |
| NRC IRAP Innovation Assistance Program (IAP) | Wage subsidy for up to 12 weeks | April 29, 2020 | Support for SMEs pursuing technology-driven innovation who have been unable to secure funding under the Canada Emergency Wage Subsidy (CEWS) |
| NSERC Alliance COVID-19 grants | $50K for one year | June 1, 2020 | Stimulate academic, public, and industry collaborations addressing pandemic-related research and technical challenges. |
| NGEN SARS-CoV-2 Challenge: Disinfection Robots | Up to $1M per project | April 30, 2020 | Support member companies developing made-in-Canada technology solutions that would support large scale disinfection of spaces and surfaces |
| Biotalent Canada – The Student Work Placement Program (SWPP) | Up to $7K in co-op wage subsidies | March 2021 | Support employer and post-secondary institutions to hire students during COVID-19. |
| Mitacs internship funding | Up to $11,250 per internship | N/A | For each Mitacs internship unit (graduate student or postdoc), the industry partner is required to put in $3750 + HST cash, and Mitacs will provide the remaining $11,250 per unit for the $15,000 total. |
| SR&ED Tax Credits | Up to a 35% of eligible costs in refundable tax credits, plus additional provincial tax credits | 18 months after fiscal year-end | Provide tax credit incentives and refunds for companies that perform Research and Development in Canada. |
Additional Sources of Funding for Startups
Additional sources of funding are currently available for Canadian startups through various competitions and programs, including:
| Funding | Amount | Application Deadline | Objective |
| AC Jumpstart – Ontario COVID-19 Support and Recovery Cohort | $30K seed funding & $10K in-kind contribution | April 28, 2020 | Support Southern Ontario-based companies working on COVID-19 solutions |
| Fierce Founders Intensive Track – Matching seed fund from the Federal Economic Development Agency of Southern Ontario. | $50K | September 14, 2020 | Help female-founded companies to build a growth plan to scale faster. The strongest growth plans will qualify to receive matching seed from the Federal Economic Development Agency of Southern Ontario. |
| ONterpreneurs (Ontario Neurotech Entrepreneurs) | $50K | May 1, 2020 | Catalyze early-stage entrepreneurs to commercialize brain-related technologies. |
| The Spinal Cord Rehab Innovation | $50-100K | June 11, 2020 | Fund new tools to measure rehabilitation activities and their impact on function in individuals living with spinal cord injury (SCI). |
| Lion’s Lair – Pitch competition (Innovation Factory) | Various prizes | May 17, 2020 | Select 16 finalists to receive prizes, training, coaching & business advisory. |