Factors That May Be Stopping You from Receiving Government Funding | EVAMAX Group

When you are about to start a new business, you are quizzed with a lot of issues chief amongst is money. Every startup requires finance for various purposes like for conducting marketing research, for hiring and training staff, for purchasing land or equipment, for paying for marketing and advertising, etc.

And what better way of achieving these funding goals than by asking the Canadian government for assistance.  

Canadian government helps SMEs in meeting their financial goals by offering them government funding for different purposes such as innovative business ventures, hiring and training and exports.  

Unfortunately, not every business receives them. There can be many reasons for this. Let’s discuss a few of them. 

Restrictive funds 

The government funds are granted for very specific purposes and have a strict criterion that needs to be fulfilled. A lot of times many businesses fail to completely match these requirements hence, they cannot be granted the amount they applied for.  

In connection with this, we at EVAMAX help businesses in recognizing which government grants and benefits they are eligible for. We make sure that they receive the maximum government funding they are entitled to. 

Related: Three Ways to Apply For a Business Grant in Canada

Failing to Target the Right Grant  

As an aspiring business entity, one must choose the right grant they qualify for and which is most beneficial to them. There are a number of grants available provided by the Federal Government of Canada but the dilemma is identifying which of these grants are applicable to your business. 
 
Nevertheless, if applicable grants are identified correctly, applicants can proceed to the next step which is meeting all the criteria and requirements of what the grant entails.  If qualifications are met and the paperwork is done properly, there is a high chance of getting approved for the grant and receiving the funding. 
 
Identifying the grant plays a vital role in the success of a grant application. It is by far, one of the most crucial steps that will need more than one head to have a deliberate decision. This can be time-consuming and cumbersome at times, but this is where grants consultants/experts like EVAMAX comes in handy. 

Related: How can Business Grants Bring Innovative Ideas to the Market

Highly competitive 

Many candidates apply for government funding every year and in-depth knowledge and expertise on grants application is compulsory in order to know whether you’re eligible or not. 

Grants application can be competitive in a way that only qualified businesses can be able to avail the funding opportunities. Thus, we offer a no-obligation grants consultation for Canadian companies for pre-assessment whether there are areas or business activities that might meet the requirements. 

We at EVAMAX can assist you in perfecting the process of how to identify and apply for these grants to make sure that you receive the necessary financial assistance for your business. Contact us today!

 

Author Bio:

Bernice Allen - EVAMAX Group

Bernice Allen is a SR&ED & Government Grants Adviser. Helping businesses in Canada & the US find funding for Innovation, Hiring, Export and other verticals. Follow her on Twitter, Facebook and Linkedin.

 

 

 
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The Next Phases of NSERC Alliance Grants 2019 | EVAMAX Group

NSERC has recently announced that it is accepting applications to the Alliance Grants program specifically for applications requesting $150,000 or more annually from NSERC in Option 1. 

Significant dates to remember: 

December 2, 2019 – Alliance grants will be open for Option 1 applications requesting over $30,000 annually from NSERC. 

December 11, 2019 – Applications requesting between $20,000 and $30,000 annually from NSERC will be accepted. 

For option 2 applications, request for 90% to 100% support of the costs of the project will be accepted in early 2020. This component of the Alliance grants intends for proposals that: 

  • aim at conducting natural science or engineering research that will address societal needs that are not met yet. This may include research affecting public goods, or that will address national or global issues that benefit more than a single or a few organizations, and where sources of funds are unavailable; 
  • connect willing partner organizations to overcome existing barriers in order to address these challenges and achieve results that can lead to a societal impact beyond economic benefits, and where an increased level of support from public funds is justified. 

More details on the objectives and on the application and evaluation processes for Option 2 will follow soon. 

 Related: Alliance Grants: How Partnering with Organizations Can Reduce Your Costs

More About Alliance Grants   

Alliance grants encourage and allow collaboration between university researchers and partner organizations that can either be from the private, public or not-for-profit sectors. 

These grants support and enable research projects which are led by strong and collaborative teams. The research projects will be aiming to generate valuable knowledge, new discoveries and leverage the application of research that will eventually benefit Canada. 

Related: Attention: 5 Grants for Life Sciences-Biotech Industry

With the help and support of Alliance grants, the research activities will  

  • generate new knowledge and/or technology to address complex challenges; 
  • create economic, social and/or environmental benefits; 
  • contribute to Canada’s long-term competitiveness; 
  • support public policy; 
  • train new researchers in areas that are important to Canada and to the partner organizations; 
  • draw on diverse perspectives and skillsets to accelerate the translation and application of research results. 

Related: How can Business Grants Bring Innovative Ideas to the Market

Who can apply? 

This is open for Canadian University researcher who is eligible to receive funds. Apply on your own or as a team along with co-applicants that are also eligible academic researchers.  

Have at least one partner organization either in the private, public or not-for-profit sector whose cash contributions will be recognized for cost-sharing. You may include other partner organizations that play an important role in your research project other than providing cash contributions. They are also recognized for cost-sharing. 

Related: Go Global with Regional Economic Growth Innovation (REGI) Programs

Projects of varying scale and complexity, from short-term smaller projects involving one researcher to long-term projects involving researchers across several universities, and from one-on-one collaborations with one partner organization directly involved in the research to projects involving many partner organizations across multiple sectors, all these are supported by Alliance grants. 

If you are interested in Alliance grants or other sources of NSERC funding, schedule a call with EVAMAX for a free grant consultation.  

 

Reference: www.nserc-crsng.gc.ca

 

 

Attention 5 Grants for Life Sciences-Biotech Industry | EVAMAX Group

The Life Sciences-Biotech industry is one of the fastest-growing industries in Canada. With lots of room for experimentation and advancement, it is also a large contributor to innovation in Canada. Our nation’s network of resources, ranging from hospitals and universities to laboratories and bio-health companies, is a world leader with respects to the bio-economy.

Listed below are a handful of the potential grants and funding opportunities available to those seeking financing in the Life Sciences-Biotech industry, according to Biotechnology Focus

They are separated into three different categories of grants: 1) R&D, innovation and product development, 2) hiring and training, and 3) exports or access foreign markets. 

If you or your company is partaking in innovative activities or projects seeking technological advancement, consult with EVAMAX today to discover the potential financing your company is eligible for. 

R&D, Innovation and Product Development 

Scientific Research and Experimental Development (SR&ED) Tax Incentives 

Over the past 10 years, the SR&ED program has been one of the biggest, if not the biggest, tax credit program ranging from $2.5 billion – $4.5 billion annually. On average, the SR&ED program has received claims from approx. 20,000-30,000 businesses each year.

This program is intriguing for many eligible candidates as there is no program budget and is delivered through the corporate tax system. Depending on the type of business, companies are eligible for tax credits equal to a specific percentage of eligible SR&ED expenditures in addition to provincial tax credits in most Canadian provinces. Read more about SRED

Industrial Research Assistance Program (IRAP) 

IRAP follows similar guidelines and criteria for the SR&ED program when funding R&D projects. Typically, IRAP will cover 50% of eligible expenses, such as salaries, contractor costs, specific material costs, and overhead fees.

Despite a large budget of over $200 million, majority of the funds are committed early within the first six months of the fiscal year starting April 1st. Read more about IRAP

Hiring and Training 

Canada-Ontario Job Grant (COJG)

There are several grants available pertaining to the hiring and training of employees in Canada. The COJG provides employers the funds to invest in their workforce through external training. This may include sales, technical, administration, or other training that increases an employee’s skill set and ability.

For successful applicants, the COJG provides employers with 67% of the external training costs with a cap of $10,000 per participant. This grant can prove to be very helpful for employers looking to either save time or train their employees with specialized skills they do not have expertise in.  Read more about COJG

IRAP YEP (Youth Employment Program) 

The IRAP YEP is geared towards providing post-secondary graduates with the opportunity to work. Essentially, the program covers the salary expenses incurred by hiring a new employee. 

The graduate’s position is required to be R&D related or impactful on the environment as well as take place within a three to six months range. The program will cover 50% of salaries with a cap of $15,000 for any newly hired graduate under the age of 30. 

Related: How to leverage SR&ED benefits with IRAP funding

Export or Access Foreign Markets 

CanExport 

In addition to hiring/training as well as R&D funding, Canada is also home to several export and foreign market grants. CanExport provides the funding needed by companies to expand into a new market outside of Canada.

This market must be a country in which you had no previous sales in for two years and covers costs such as travel, market research, legal fees, and more. The program covers 50% of the market costs capped at $10,000 for each applicant.

(Note: We are no longer accepting applications to the export market access and export manager programs as both programs are now closed.)

Listed above are just a sample of the hundreds of grants available to Canadians amongst a wide variety of industries. 

For more information regarding which grants your company is eligible for, contact EVAMAX to assist you in identifying and acquiring the funding you are entitled to. 

 

 

How can Business Grants Bring Innovative Ideas to the Market | EVAMAX Group

Small business grants attract potential entrepreneurs, albeit lacking funding resources, to work on an idea that is usually chosen by the grant provider.

These business grants help both the grant winner and financier. The grant recipient gets funding that is not required to be repaid while at the same time the grant provider is able to leverage the ideas and approach of the grant winner.  

How Business Grants Work 

The process starts with the proposals on the grant scheme from candidates. These candidates pitch their ideas as per the terms of the particular innovation grant.

Usually, the candidates are allowed to present their ideas in a pre-defined domain only. The best idea is selected and funding is offered to do more research on the idea. The candidates start the business with the grant money and report to the funding organization regularly about the development.  

Related: Three Ways to Apply For a Business Grant in Canada

Apart from grants from private companies, there are a lot of government grants that provide government funding to promote innovation and business acumen.   

In connection to thisEVAMAX has been helping Canadian businesses from different verticals in identifying which government grants and benefits they are potentially eligible for.

Related: 5 Tips in Identifying Small Business Grants in Canada 

Why should you care as a Business owner 

A business owner may opt to finance a business grant for several reasons. Usually, a big organization funds an idea that it does not want to pursue directly in the form of a business grant project to check its viability and scope. If the idea demonstrates growth, the resulting start-up is absorbed in the organization.  

Related: Going International: Tips on Expanding Your Business Globally

Thus, these business grants bring innovative ideas and new approaches to the market. The candidates for the grants are usually those who otherwise have a keen interest in the domain but cannot pursue it because of the lack of funds. The involvement of such hidden talent helps fresh thinking reach to the developmental spaces.  

For assistance in acquiring government grants, contact EVAMAX today to discover which grants are available to you and your company. 

 

 

CanExport for SMEs Project Funding Update 2019 | Export Canada Grants | EVAMAX Group

CanExport for SME’s is an initiative of the Trade Commissioner Service (TCS) aimed at encouraging Canadian companies to expand the market potential of their products through financial support for commercialization and providing a platform for foreign partnerships.  


What’s New?  

Increased funding: Up to $75,000 per application on a 75% cost-sharing basis (max project cost: $100,000). 

Updated eligibility criteria: The eligibility criteria have been expanded to include agricultural producers and processors under the same program (previously applied for export-related activity under Agri-Marketing) 


Who can apply? 

Funding Type 

TCS will provide non-repayable funds on a 75% cost-sharing basis to cover eligible expenses up to a maximum of $75,000 per application. The grant request must be at least $20,000. Stacking is allowed with other overall government (federal, provincial, municipal) funding capped at 75% of eligible costs. 

Related: Going International: Tips on Expanding Your Business Globally

Eligible Applicants: 

  • Be a for-profit, incorporated legal entity or a limited liability partnership (LLP) 
  • Must have a Canada Revenue Agency business number (unless Indigenous-owned or led) 
  • Employ no more than 500 full-time equivalent employees 
  • Between $100K and $100M in annual revenue in Canada during the last year 

Eligible Activities: 

  • Business travel 
  • Market research 
  • Participation at trade events and fairs 
  • Adaptation, translation and interpretation services 
  • Intellectual property protection, certification, and adaptation of contracts 
  • Expert advice on business, legal or tax matters, and more 

Related: Government Grants for Export

Eligible Costs: 

  • Travel & accommodation costs (max 2 persons: employee or owner of the company) 
  • Registration and participation fees at trade fairs 
  • Cost of marketing tools to adapt the product in international markets 
  • Service interpretation for the target market 
  • Intellectual Property (IP) protection and certification fees in the target market(s) 
  • Consultant fees (business advice, market research, and feasibility studies) 

To learn more about whether your company qualifies for this funding & for assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process. 

 

 

Three Ways to Apply For a Business Grant in Canada_EVAMAX

The Canadian federal government provides some of the most generous grants and funding opportunities in the world.

Through a tax incentive program, they offer tax deductions, tax credits, and cash refunds for companies partaking in certain innovative activities. Applying for grants and funding can be a complicated process and there are many ways to approach this issue.

Companies will typically choose one of three strategies when completing claims: individually without any help, using an in-house consultant , or outsourcing an external consultant like EVAMAX. See the advantages and disadvantages of each method listed below. 

Without help 

There are both benefits and drawbacks to companies filing claims internally without any consultants.

For starters, applying for a claim without any help can significantly save costs. Any fees related to hiring or outsourcing a consultant to complete the claim for you are avoided and can be utilized on other operations. Depending on the business, these fees can be very costly and rack up a high expense bill for the company.

On top of that, companies also do not have to share any financial or technical documentation to complete the claim. Many businesses are often hesitant to outsource grant and SR&ED work because there is a lack of trust with respects to the consultant.

By doing everything internally, the documentation does not have to be shared and you can ensure your security as well as privacy. 

As for some of the drawbacks, applying for a claim without any help often leads to a higher chance of being denied or not acquiring all the benefits a company is entitled to. 

Related: SR&ED Consulting: Is Your Company Maximizing Potential Benefits?

Although filing claims internally may seem like a simpler way to apply, those who lack experience can overlook certain entitled benefits and ultimately reduce the potential size of the claim. 

Also, if a claim is to be reviewed, the company will have to handle the CRA audit themselves. CRA reviews present complications and often require a thorough knowledge of the application process or claim in order to avoid a denial of your submission.

It is extremely helpful to have a knowledgeable and experienced consultant to assist you during CRA reviews to ensure you successfully receive the desired funding. 

Related: Preparing Your Company For SRED CRA Review

In-house consultant 

Having an internal consultant focused on grants and funding also has both advantages and disadvantages. The most apparent advantage would be the knowledge and skill the consultant brings to the table. 

By having someone familiar with SR&ED and other application processes, companies can be more confident that their claim will be successful. There is a lot of information to gather, both technical and financial, that leads to tedious and time-consuming work.

 Also, by applying for grants and funding internally, everyone will have the chance to understand certain aspects of the grant and SR&ED process. Although non-experienced employees lack the same depth of familiarity as an actual consultant, completing a claim in-house will present different perspectives and provide a thorough review of the application. 

Related: 5 Tips in Identifying Small Business Grants in Canada

As for the disadvantages, there are unique skills needed in order to be an in-house consultant. Being specialized in SR&ED and other certain types of funding require experience and a skillset of specific criteria.

Also, by applying through in-house techniques, the application process is very time consuming which often does not work to the benefit of the company. Completing the applications in-house is a long and tedious procedure that may take away from valuable time in which employees could be doing something else that is productive. 

Related: Government Grants: What You Need To Know

Outsourcing to a consultant 

Similarly to the other techniques, there are both benefits and drawbacks to outsourcing SR&ED work and other funding applications to an external consultant.

For starters, external consultants are experienced and have the right knowledge/skills to complete your claim. Claim reviewers, such as the CRA, follow a very meticulous and specific process when analyzing applications and external help can assist you in ensuring your claim is accurate.

On top of that, outsourcing can also eliminate time spent on completing grants and funding submissions. Instead of having an internal employee or paid in-house consultant, companies can focus on their own operations and allow the external consultant to take care of the application process. 

Related: How to leverage SR&ED benefits with IRAP funding

As for the downside, outsourcing will incur fees that would otherwise be avoidable if a company were to apply through internal strategies. Different companies are eligible for different grants and funds, meaning that the cost incurred is contingent on the nature of the business.

Another potential downside is the fact that documentation must be shared with the external consultant. Technical and financial statements are needed to complete claims and access to these forms is necessary for an external consultant to successfully submit the application. Some companies prefer not to share this information due to a lack of trust or other privacy/security reasons. 

Depending on the resources and nature of your business, any of these techniques may be the best solution for your company. Despite the specific benefits and drawbacks per each application strategy, they all have the potential to successfully claim all your entitled benefits. 

If your company is looking to outsource your grants application, contact EVAMAX today! We help identify all applicable grants and tax incentives your business is eligible for and maximize your potential benefits.

EVAMAX serves 700+ clients all over Canada and confidentiality is on top of our priority. Call us at 1-877-711-7733 or email us at info@evamax.com. 

 

 

CryptoNumerics Financed Millions to Launch Big Data Analytics Tools - EVAMAX Group

CryptoNumerics, an enterprise software company incorporated in May of 2018, has recently raised $3.3 million CAD in seed funding.

The financing was provided through multiple California-based venture capital firms including 11.2 Capital, Lux Capital and Silicon Valley Data Capital. CryptoNumerics plans on using the funding received to launch its new big data analytics tools as free and downloadable AI-powered systems. 

Related: Expanding the Cannabis Industry Through Big Data

Businesses can receive similar financing and even maximize their potential benefits with the help of EVAMAX

The company was founded in 2018 by a group of five entrepreneurs with the aligned goal of ensuring data relevancy while preserving consumer privacy. Their initial intention was to harness data sets while still complying with regulations such as the HIPAA, GDPR, and other state-based procedures.

Related: Back to the Future: The Revived Upbringing of Cryptocurrencies

Throughout the year, members of the CryptoNumerics team worked out of an University of Toronto lab to develop its new artificial intelligence and machine learning-based products; CN-Protect and CN-Insights. The products were tailored to companies with large, privacy-sensitive data sets such as healthcare organizations and financial institutions.  

Related: Blockchain Technology Adaptation: What Your Company Can Expect

In a time where the economy is more data-driven then ever before, privacy regulations are needed in order to de-identify and protect data. While these regulations are a necessity, they can often restrict a company’s ability to efficiently use data due to a reduction in quality and utility. CryptoNumerics designed their products to use advanced anonymization techniques to both protect data and retain data utility. 

Related: CRM Blockchain Startup Receives Funding to Launch New Platform

Their software comes at a beneficial time in which there is a need for data to be accessible and accurate in a way that does not compromise privacy. The market for big data analytics is growing and has the potential to be a billion-dollar market, according to CryptoNumerics employee Hassan Bhatti.  

Regarding the seed funding received, CryptoNumerics has plans to distribute this among different areas of their business operations. A large portion of the financing will be used to hire and expand their engineering as well as R&D teams. 

Related: Canadian Innovation Grants are Transforming Businesses Nationwide

In such a competitive industry, CryptoNumerics has realized that it is crucial to equip their employees with more capabilities in order to succeed in their given market.

Their goal is to deter concerns around privacy due to imperfections in artificial intelligence and machine learning. On top of that, funding will also be used to grow their marketing strategy and sales pipeline when they bring their big data analytics tools to market. Financing is needed to scale their products and expand alongside the trends of the industry. 

Related: Government Grants: What You Need To Know

As stated previously, CryptoNumerics aims to mitigate regulations and restrictions on data by creating privacy-protected data sets without compromising personal privacy. With big data analytics tools like CN-Protect, they enable a company’s ability to preserve analytical data, ensure privacy with minimal amounts of code, measure quantifiable risk, and streamline compliance processes.

Companies who are innovating and adapting in accordance with the trends of their industry, like CryptoNumerics, find themselves at the forefront of their respective market. 

If your company is partaking in activities seeking technological advancement or modernization, EVAMAX can assist you in identifying and maximizing your entitled benefits. Schedule an appointment with one of our grants/funding experts.

 

 

How BDC Capital’s New Innovation Fund is Transforming the Canadian Economy

BDC Capital, the investment arm of BDC Canada’s only bank, has just launched its own Industrial Innovation Venture Fund. The $250 million that this fund is composed of will be invested in technology companies that aim to modernize traditional Canadian industries.

BDC will target companies in the early-to-late stages of development that are focused on agriculture, food, drones, energy, mining, robotics, and artificial intelligence.

BDC brought on Joe Regan, a former board member for several companies with prior work experience at companies like Bioenterprise Capital and Export Development Canada, to oversee the fund as a managing partner. With Regan’s expertise and overview of the industry, BDC has confidence that he will successfully deliver the desired outcomes of the Industrial Innovation Venture Fund. 

Related: Canadian Innovation Grants are Transforming Businesses Nationwide

If your company is partaking in similar innovative activities or industry-modernizing projects, EVAMAX can help assist you in acquiring the funding and capital to do so.  

Some of the fund’s core targeted industries include agricultural technologies, resource extraction technologies, and advanced manufacturing.

 With the hopes of transforming and accelerating certain Canadian industries, BDC is looking to invest in companies seeking improvements in productivity and competitiveness through innovative technologies, processes and business models. 

Related: CRM Blockchain Startup Receives Funding to Launch New Platform

According to Jerome Nycz, Executive VP of BDC Capital, “This fund is complementary to our existing work with the Industrial, Clean and Energy Technology (ICE) Venture Fund, and by launching the Industrial Innovation Venture Fund, we are doubling down on developing transformative solutions for Canadian industries.” 

Related: How to get SRED Funding for Innovation Companies

The ICE Technology Venture Fund invests in capital-efficient and scalable businesses that enhance resource productivity with potential for global operations. Some of the industries that the ICE fund supports include artificial intelligence, machine learning, cloud computing, internet, intelligence systems, and more. 

By introducing the Industrial Innovation Venture Fund, BDC is furthering their interest in supporting innovation and industrial modernization in Canada. 

Related: Industrial Research Assistance Program (IRAP Funding)

Many of the industries that present Canada with a competitive advantage from a global perspective are slow to digitalize. The fund will assist these industries by meeting the urgent demands of the next business leaders seeking advancement in the Canadian economy.

 “With this new $250 million Fund, BDC Capital is encouraging innovation in traditional industries where venture capital has not yet engaged at a large scale in Canada…This shows how venture capital can accelerate Canada’s growth across a variety of sectors and industries.”, said Kim Furlong, CEO of the Canadian Venture Capital and Private Equity Association. 

Currently, BDC is invested in over 700 companies totaling approximately $3 billion under management. This fund is symbolic of the significant development regarding the Canadian venture capital ecosystem we have experienced in recent years.  

BDC Capital serves as a strategic partner to innovative firms, offering a full spectrum of risk capital that supports Canadian companies looking to scale their business on the global level.

The implementation of the Industrial Innovation Venture Fund will support growing companies, the Canadian economy and also create more jobs for the middle class. BDC has proven to be a vital supporter for entrepreneurs and small businesses with the hopes to continue to do so in the coming future.

For more information regarding available funding, grants and tax incentives, contact EVAMAX today! We can help identify your company’s potential to qualify for these benefits. 

 

 

 

CRM Blockchain Startup Receives Funding to Launch New Platform

The Cere Network, a blockchain CRM company, has recently received funding through NEO Global Capital, Arrington XRP Capital, and Binance Labs.

The Cere Network was apart of Binance Lab’s Incubation Program, in which Binance provides incumbents with seed funding, mentorship, network opportunities, and more in order to empower blockchain and cryptocurrency projects. 

Related: Back to the Future: The Revived Upbringing of Cryptocurrencies

With the venture capital financing received, Cere Network plans on developing the world’s first blockchain CRM and customer data (CDP) platform/ecosystem. 

For companies partaking in innovative activities or projects seeking technological advancement, EVAMAX can assist you in identifying and maximizing the potential funding your business is eligible for.  

The blockchain platform being constructed will unlock customer data trapped in current CRM and CDP systems. From a functionality standpoint, the platform will capture all customer interactions, including transactions, on a custom blockchain platform that promotes secure data collaboration and integration through an open microservices platform. 

Essentially, Cere Network plans on tracking the entire customer journey and experience through blockchain.  

Related: Blockchain Technology Adaptation: What Your Company Can Expect

Despite blockchain being one of the fastest-growing software in the world, it is difficult to extract customer information as the data is often fragmented across multiple CRM systems. 

With many current CRM platforms and other centralized software systems often costly and inefficient, Cere’s system will facilitate secure data transactions and collaboration through collaborative microservices.  

According to Fred Jin, CEO of Cere Network, “Our mission with Cere Network is to leverage blockchain to empower businesses to have control over their own data and unlock the potential of collaborative microservices on top of the unsiloed user data.”

Through a decentralized platform, Cere’s CRM and CDP ecosystem will enable secure data sharing and acquisition among users. Businesses and brands will have the ability to increase the potential and flexibility for collaboration through encrypted customer data. 

The on-demand marketplace will use CERE tokens as a method of currency for the services included in the platform and act as an incentive for running their blockchain and data nodes. 

Related: Back to the Future: The Revived Upbringing of Cryptocurrencies

For companies, having everything right in the palm of their hands provides an effective solution to efficiently acquire accurate customer data. 

Despite entering a highly competitive market that features companies such as IBM and SAP, Cere Network has the potential to be the front-runner in the blockchain sector.

They look to provide one of the first venues for brands, apps, businesses, and other assets to be integrated with one another through blockchain technology.  In a CRM industry that is expected to grow to $35 billion in 2023, the room for advancement and growth is unlimited. 

Related: Top Ten Software Development Companies According to the GoodFirms

If your company is looking to advance in the CRM or blockchain industries, contact EVAMAX for a no-obligation consultation regarding the financing your company can use to grow and successfully carry out operations. 

Our team of experienced consultants can help you acquire the funding you are entitled to and will assist your company in taking the next step.  

 

 

Government Grants What You Need To Know | EVAMAX Group

Government grants are funds awarded to individuals, companies, institutions, and others partaking in certain types of projects. This could be through both innovative activities as well as projects seeking (technological) advancement.

Lack of funding can be a problem for many companies, especially start-ups and small businesses.

Despite the fact that the application process can often be complex and specific, these grants can significantly contribute to both the growth and overall success of your company. If you believe you or your company is in need of funding, contact EVAMAX today to identify which government grants and benefits you are potentially eligible for.

Before submitting a grant application, it is important to understand how government grants work and what they entail. Below discusses some of the advantages and disadvantages of funding provided through government grants.

Advantages

One of the most significant, if not the most significant, advantages to government grants is the fact that the funding received can be non-repayable. Government agencies are often more willing to take the risk on start-ups and small businesses that banks/investors are not.

Certain types of financing, such as those received through specific non-repayable government grants, do not require the funding to be repaid. This can provide financial stability and certainty as well as allow companies to focus on other aspects of the business that they would not have been able to prior to the acquisition of government financing.

Related: 5 Tips in Identifying Small Business Grants in Canada

In addition, government grants are available to a wide range of categories and can be found regardless of the industry you are in. Websites such as Grants.gov  and SBIR.gov provide thorough lists of funding available to your particular industry.

Whether you are involved with healthcare, science, education, etc. there are many resources available to companies looking to acquire financing. Depending on the grant, there can often be an unlimited amount of applications a company can submit to acquire the desired benefits.

Below is a compiled list of business grants per industry:

Disadvantages

Crafting the proposal is often the most difficult component of the application. Regardless of the nature of activities and projects being completed, the government will not grant you funds if you do not have a solid and plausible plan. It is absolutely critical for companies to complete thorough research pertaining to the government grant they are seeking, or outsource the work to a firm like EVAMAX who has a team of experienced consultants that will assist you in acquiring funding.

Government grants also often come with restrictions and guidelines. Even if you qualify for a grant, you can not necessarily utilize the funds provided on whatever you want.

Related: $100 Million in AI Funding Provided to Albertan Companies

Companies or individuals are required to consistently submit progress and tracking reports to the given agency that financed the grant. If certain regulations are not followed, the agency may be eligible to request a refund of the money they provided to you.

All in all, the benefits of government grants heavily outweigh the costs. The drawbacks related to the acquisition and use of government financing should not deter companies and individuals from seeking these grants.

As long as companies are willing to invest both their time and effort, they should apply for the government grants they are eligible for.

Related: Canadian Innovation Grants are Transforming Businesses Nationwide

The application process may include rejection on more than one occasion, however, companies should continue to try and find an appropriate grant that suits their needs.

For assistance in acquiring government grants, contact EVAMAX today to discover which grants are available to you and your company.