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 […]
Digital Media Funding – A Case Study
Kibooco is a Vancouver digital media start-up developing an interactive platform for children to design and create their own books. As a start-up, the team behind the Kibooco vision had to develop a strategy to finance their project, and looked to a number of government incentive programs. After being rejected for the BC Film and […]
SR&ED versus IRAP
Scientific Research and Experimental Development (SR&ED) and the Industrial Research Assistance Program (IRAP) are two of the largest government incentive programs in Canada. The chart below details some of the major differences between the 2 programs. Criteria Scientific Research and Experimental Development (SR&ED) Industrial Research Assistance Program (IRAP) Administration SR&ED is administered by the Canada […]
OECD Economic Survey: Research and Development Outlook in Canada
The Organisation for Economic Co-operation and Development (OECD) released the June 2012 results of the OECD Economic Surveys for Canada’s macro-economic state of affairs. The report indicates that the economy is picking up, with a positive outlook for continued moderate output growth and inflation. The OECD also cites innovation as a priority on the government’s […]
Direct Government Funding – Benefits and Detriments
SR&ED and NRC IRAP are both substantial business support programs offered by the Canadian federal government. However, one of the major differences between the 2 programs is that NRC IRAP endorses direct up-front funding, whereas SR&ED is a tax credit for expenses that have already been incurred. In light of the recent Jenkins report, there has been […]
Additional Funding Sources
Northbridge Consultants is the industry leader in maximizing monetary gains for Canadian Businesses through the Federal SR&ED Program. We accomplish this by identifying more SRED-eligible projects, and by supporting our clients every step of the way (from the time we first tour their facilities, through the preparation of all necessary documentation, right up until the […]
The Small Project Accelerated Review Process
The Industrial Research Assistance Program that the National Research Council of Canada has (NRC-IRAP) has long been of assistance to companies in Canada who need funding for research purposes. About a month ago, NRC-IRAP announced a new review process: the Small Project Accelerated Review Process. This process was designed to help grow the business of […]
Look For Alternative Forms of Financing
The cost of borrowing money just went up. Unlike their US counterparts, Canadian banks that held positions in high-risk US mortgages will likely not receive a bail-out package. The net impact of the mortgage crisis is that Canadian banks will have to increase their lending rates to make up for their losses. This is a […]