CEWS Program Extended
As a result of COVID-19, many Canadian employers have seen significant drops in revenue in recent months. Following the initial fallout of the global pandemic, the federal government responded by establishing Canada’s COVID-19 Economic Response Plan to insulate Canadian citizens from the negative economic effects plaguing many industries and sectors. Part of that plan entails […]
New Funding Opportunities from Innovative Solutions Canada
The government of Canada is seeking to partner with eligible Canadian small businesses and innovators, to facilitate the early development, testing and validation of prototypes to solve major challenges through funding from Innovation Solutions Canada. Two new challenges were recently announced by Innovation Solutions Canada including a grant for Developing innovative phytosanitary treatment options for control […]
Mitacs: COVID-19 Resources for Research
Mitacs has boosted support for Canadian innovations in the fight against COVID-19 including expanded and fast-tracked funding as well as added flexibility and support. Mitacs is a federally and provincially supported not-for-profit organization that fosters Canadian innovation through industry-academic collaborations and has funded over 16,000 research and innovation projects with. Funding expanded and fast-tracked In […]
Funding for Canadian Tech Companies Impacted by COVID-19
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 […]
New COVID-19 Funding to Mobilize Canadian Businesses
On April 17, 2020, Prime Minister Justin Trudeau had announced an additional $250M in funding support through the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP) to assist innovative, early-stage companies that are unable to access existing COVID-19 business support measures. In addition, $20.1M in funding was announced to support young Canadian entrepreneurs […]
Changes to the Canada Emergency Wage Subsidy
Canadian Prime Minister Justin Trudeau announced changes to the Canada Emergency Wage Subsidy (CEWS) yesterday. Trudeau said firms will now have to show their year-on-year revenues had dropped by 15% in March, half the previous level of 30%, to claim a 75% wage subsidy for employees. In related news, Air Canada has announced that it […]
Federal COVID Assistance for Businesses
During these unprecedented times, the federal government has announced a variety of incentives to assist Canadian businesses. This bulletin summarizes pertinent federally-announced COVID incentives for businesses. We expect additional announcements will be made to further address support for Canadian businesses in the coming days. 75% Canada Emergency Wage Subsidy (CEWS)- The CEWS will provide a […]