CRA Service Standards for SR&ED Claims
The Scientific Research and Experimental Development (SR&ED) tax credit was developed to encourage companies to undertake research and development in Canada. But once you have submitted a claim for the tax credit, how long does it take to see the benefits of the program? The CRA has outlined their service standards for processing SR&ED claim […]
Eastern Ontario Development Program (EODP) Funding Promotes Economic Development in Eastern Ontario
The Eastern Ontario Development Program (EODP) is designed to promote economic development for companies in eastern Ontario by funding key business development projects. Delivered through regional organizations, the funding of up to $100,000 per year or a maximum of 50% of eligible costs will fund activities such as: Creation of business development plans, expansion plans, […]
Aerospace Technology Demonstration Program is Economic Action Plan’s Newest Funding Initiative
The Canadian aerospace industry is made up of over 700 companies and employs more than 170,000 Canadians according to the Aerospace Industries Association of Canada. In Canada, the aerospace industry generates over $42 billion in revenue and can be split into two major sectors which are manufacturing, and repair and maintenance. More than 20% of the […]
SR&ED and IRAP Funding Available to Assist Canadian Technology Startups
A recent PwC report found that Canadian start-up companies are looking more into building their business than into Mergers & Acquisition exits. Government funding provides significant assistance for Canadian technology start-ups, with 50% of start-ups surveyed applying for at least one source of funding, according to the report. Amongst these start-ups, 35% said they took […]
Canada’s Performance in Innovation
Ottawa based think tank, The Conference Board, released a series of reports called “How Canada Performs: A Report Card on Canada,” which assesses Canada’s quality of life in comparison to other countries. Canada receives grades of “B” in the majority of the sections, and received a grade of “A” in the Education and Skills section. […]
Bioniche Life Sciences Inc. Recieves IRAP Funding
Canadian business funding is moving from tax credits towards more direct funding of grants and loans. A popular grant program among SME’s is the IRAP program, which is Canada’s premier innovation assistance program that provides cost-shared financial assistance for research and development projects. The program connects each company with an Industrial Technology Advisor (ITA) who […]
Internship Funding Assists With Canadian Business Innovation
There exists a vast resource of bright young Canadian graduate students and researchers that companies have difficulties tapping into. Internship programs, such as Mitacs – Accelerate, provide a bridge for companies to gain access to these valuable resources to assist in the R&D needs of the company. On top of acquiring a highly educated graduate student […]
Improving Canada’s Fuel Economy Standards with the Automotive Innovation Fund
Environmentally-friendly vehicles have come a long way in terms of technological advancement and efficiency, but as with anything, there’s always room for improvement. The Automotive Innovation Fund (AIF) is a new program that aims to do just that by providing funding for vehicle and powertrain assembly operations associated with significant automotive innovation to support large-scale […]
R&D Spending On Upward Trend
StatCan recently released a report indicating the direction research and development (R&D) spending by businesses in the industrial sector has been going over the past several years. With anticipated spending of $15.5 billion in industrial R&D in 2012 (an increase of 0.9% from 2011), there is a positive outlook for R&D spending for the new […]
Summer SR&ED activities
In a recent article, Ross Cooper of Excellence in Manufacturing Consortium (EMC) discussed how the slow days of summer are ripe for SR&ED activities as companies are slowing or shutting down production and attending to pesky ongoing production, machinery and process issues as well as integrating improvements to increase efficiency for the rest of the […]