A list of the best Ontario business grants and loans funded by the Ontario Center of Excellence

  1. If you are an Ontario business thinking about applying for funding or looking for funding for a small business, look no further! There are Ontario business grants and loans for you!
  2. The Canadian government and provincial government under the leadership of Premier Doug Ford have funding opportunities and government funding programs for you.
  3. Business owners can apply for the following Canadian government grants, research and development funding and tax credits.

Ontario Business Grants

The Ontario Centre of Excellence Market Readiness Program is an Ontario business grant that aims to support academic spin-off companies, Ontario Centres of Excellence accelerators, graduates, and SmartStart Seed Fund awardees. The program provides Ontario business grants to further early-stage commercialization and support scalable business growth. It offsets a portion of project expenses related to customer creation and company-building activities

Who qualifies for Ontario business grants and what can you expect to receive?

  • Business owners can expect to receive between $125,000 up to $250,000 in Ontario grants
  • Business projects that include Customer Creation: after tech validation, funding to develop a scalable sales process or Company Building Program: sustainable business model development activities are eligible to apply
  • All Ontario SMEs incorporated within the last 5 years with < $500,000 in Customer Creation projects and < $1 million in Company Building Projects are welcome to apply

Ontario Centre of ExcellenceVoucher Program

The Ontario Centre of Excellence also has multiple voucher programs for businesses based on: 

Voucher for E-Business and Technology Adoption

  • This voucher program supports businesses that collaborate with colleges to provide support in the development of online tools to support the businesses’ market expansion and export opportunities
  • Academic institutions receive funding to allocate to help companies
  • Projects can be but are not limited to website development, online sales process, digital and social media, and customer relationship management

Voucher for Innovation and Productivity

This program provides financial support to for-profit companies collaborating with an academic partner to develop new products, services. This program is geared towards supporting the development of new export markets

Who qualifies and what can you expect to receive?

  • Business owners can receive up to 50% of project costs to a maximum of $20,000 up to $75,000
  • Eligible projects include research to develop new innovative products, processes, and services
  • It also includes projects geared towards expanding export markets

Voucher for Commercialization

This voucher provides financial support to companies attempting to commercialize innovations from Ontario Colleges and Universities as a start-up or through licensing

Who qualifies and what can you expect to receive?

  • Businesses can receive up to $50,000 up to 75% of project costs and up to 25% is provided to the applicant in cash and in-kind contributions
  • In order to be eligible applicants must be pre-recurring revenue or government investment of $250,000 or less
  • Eligible projects are business/market assessments, prototype design and develop, proof of concept demo, early customer engagement and business plan development
  • Projects can also be technology/innovation assessment, market assessment and strategy, prototype design and development, proof of concept demonstration, business, and another planned development

Ontario Business Grants and Loans for training:

Canada Ontario Job Grant (COJG)

The Canada Ontario Job Grant is a hiring and training Ontario business grant program that offers a direct wage subsidy to financially support employers who wish to train their employees further. It is applicable to small, medium, and large businesses that want to deliver short-term training to new and existing employees.

Who qualifies and what can you expect to receive?

  • Individuals, private and not-for-profit employers are eligible for this grant
  • It is applicable to all employers wishing to train their employees even one or two individuals
  • For this Ontario business grant and loan, employers must also make cash contributions, employ individuals selected for training, be licensed to operate in Ontario, be training the individual for a job based on Ontario and have adequate insurance
  • Businesses can expect to receive up to $10,000 per individual as a part of Canada Ontario Job Grant
  • Smaller businesses might be offered additional flexibility as employers with less than 100 employees may be eligible for $15,000 per individual

 

EVAMAX is an expert when it comes to Ontario business grants and loan applications.

Please contact EVAMAX today for any further questions about Ontario grants.

You may not know this, but the Canadian government offers a whole selection of grants for small businesses.

Your business can take advantage of these grants and programs to grow your business and projects!

Keep reading to find out how.

Federal grants your business can apply for:

  1. CanExport for Businesses (SMEs)
  • The CanExport grant program can help you expand your business globally
  • It is designed for small and medium-sized enterprises to help your business with export marketing to create business opportunities

Which activities can be funded?

  • Your small to medium enterprise can apply online for up to $75,000 that would cover 75% of your international market development expenses
  • Activities covered under the CanExport program are:
    • Market research participation in virtual trade events and fairs
    • Adaption and translation of marketing tools
    • Search engine optimization
    • Expert advice on legal, business and tax matters
    • Intellectual property protection, certification, and adaption of contracts

Who is eligible?

  • The following eligibility criteria must be met by your business:
    • Be a for profit business
    • Be an incorporated legal entity or a limited liability partnership
    • Have a CRA registered number
    • Have less than 500 full-time equivalent employees
    • Declare between $100,000 and $100 million in annual revenue in the last 12 months

How can you apply?

  • Applications can be submitted via the online platform here
  • Applicants can expect a decision within 60 days of completing an application

 

  1. Strategic Innovation Fund
  • This program offers financial support for projects that improve Canada’s innovation performance and grow your business
  • It covers four types of projects in four different streams
    • Steam 1: R&D projects that accelerate technology transfer and commercialization of innovative products
    • Stream 2: projects that facilitate the growth and expansion of firms in Canada
    • Steam 3: projects that attract and retain large scale investments in Canada
    • Stream 4: projects that advance industrial research, development, and tech demonstration through collaboration between academic, non-profits and private sector

What can be funded?

  • Non-recurring costs that are related to specified project are eligible expenses including:
    • Direct labour
    • Overhead
    • Subcontractors and consultants
    • Direct materials and equipment
    • Other direct costs

Who is eligible?

  • Any company incorporated in Canada can apply for the Strategic Innovation Fund from Streams 1 to 3
  • For Stream 4, applicants must be a consortium led by a Canadian incorporated company

How can you apply?

  • Ask yourself these questions to help prepare for your SIF application:
    • Is my project innovation-based?
    • Does my project fall within one or more program streams?
    • Can I demonstrate that my technical and management teams can successfully actualize the project?
    • Can I clearly describe the anticipated innovation, economic and public benefits of my project?
  • If you are confident of your project after the questionnaire, you can find the Statement of Interest form here

Provincial Grants:

  1. Atlantic Innovation Fund
  • This fund is dedicated to supporting the research and development of innovative technology in the Atlantic region of Canada
  • It allows private-sector research and collaborations with academic and research institutions
  • Projects eligible for this grant often focus on commercially viable technology development and adaptation

What can be funded?

  • Eligible costs include wages, salaries, capital costs and other operating expenses directly related to the project
  • AIF can aid of up to 80% of total eligible costs for projects carried out by not-for-profit organizations and up to 75% for private sector-led projects
  • The AIF supports projects in the areas of natural and applies sciences, as well as social sciences, humanities, arts, and culture that leads to successful development and commercialization of technology
  • Eligible activities include R&D projects linked to economic development in areas that are strategically important
  • Technology adaption projects
  • Related initiatives that emphasize building the Atlantic system of innovation

Who is eligible?

  • Eligible applicants include private-sector businesses, universities/colleges, non-government research organizations and provincial Crown corporations all located and operating in Atlantic Canada
  • The project must be
    • Compatible with AIF objectives
    • Be scientifically and technically sound
    • Demonstrate management capability to successfully undertake project
    • Demonstrate economic benefits for Atlantic Canada
    • Demonstrate commercialization potential
    • Support new or improved technologies
  • For additional details please click here

How can you apply?

  • The application is a two-step process
  • Step 1: Complete a Project Concept Template and submit it to an ACOA office nearest to you. Upon receipt, you will be contacted to discuss your project further
  • Step 2: Once your project has been discussed, complete and submit the Application for Financial Assistance.

Canada Ontario Job Grant (COJG)

  • The Canada Ontario Job Grant is a hiring and training grant program
  • It offers direct wage subsidy financial support for employers who wish to further train their employees
  • It is applicable to small, medium, and large businesses who want to deliver short-term training to new and existing employees

Who is eligible?

  • Individual, private, and not-for-profit employers are eligible for this grant
  • This grant is applicable to employers wishing to train either all employees or even one or two individuals
  • Additionally, employers must also:
    • Make minimum cash contribution to training costs
    • Employ individuals selected for training
    • Be licensed to operate in Ontario
    • Be training the individual for a job that is also located in Ontario
    • Comply with Health and Safety Act
    • Have adequate third-party general liability insurance
    • Comply with all applicable federal and provincial human rights legislation

How much funding can you receive?

  • The Canada Ontario Job Grant supports training costs up to $10,000 per individual
  • Additional flexibility is available for small employers
  • Employers with less than 100 employees may be eligible for $15,000 per individual

What training does this grant cover?

  • Tuition or other training provider fees
  • Textbooks, software, and other materials
  • Mandatory student fees
  • Examination fees
  • Potential travel costs (up to $500 over 24 km)

How can you apply?

  • For training grants more than 25 individuals, applications must be submitted through an online portal
  • For training grants less than 25 individuals, applications can be submitted online to a COJG service provider

You can find more information about COJG here.

For more information regarding any grant programs, please contact EVAMAX.

Canada offers multiple options for funding innovative projects. During the COVID-19 pandemic, Canada has stepped up this ability. Programs are customed to help COVID-19 pressures.

The most popular during this has been IRAP COVID funding. The program has stretched its ability to cover efforts for COVID-19 solutions.

The National Research Council’s Industrial Research Assistance Program is here to help your business. It is the country’s leading innovation assistance program.

This program offers technical and innovation advice. It also provides financial assistance and industry connections. These can help bring your idea to the market faster.

IRAP funding covers up to 80% of salaries and 50% of contractor costs. Total funding is calculated by working with an Industry Technology Advisor. The COVID-19 Challenge program is equipped with additional resources for overcoming related challenges.

You can use this funding for research projects. Here is everything you need to know about IRAP:

  1. What are the NRC IRAP programs?

IRAP Innovative Solutions Canada COVID-19 Challenge Program

  • This program post challenges asking for near-market solutions from small and medium-sized businesses.
  • This program is for businesses that require financial support to refine and sell their product to meet a COVID-19 need.
  • The IRAP program works with 8,000 businesses across Canada every year
  • It uses a network of 255 industrial technology advisors and provides over $300 million in support
  • The COVID-19 program has 3 challenges so far
    • Low-cost sensor system for COVID-19 patient monitoring
    • Point-of-care and home diagnostic kit for COVID-19
    • Made-in-Canada filtration material for the manufacture of N95 respirators and surgical masks

IRAP Innovation Assistance Program

  • This program is for businesses unable to qualify for CEWS
  • It offers a wage subsidy for up to 12 weeks
  • Is independent of other programs and current or future IRAP projects
  • For more information, click here

Small Technology Innovation Projects or Accelerated Review Process

  • This program provides grants up to $50k
  • It aims to fund R&D and help commercialize tech projects

Mid-sized Technology Innovation Projects

  • This program provides grants up to $10 million
  • These grants are focused on R&D and the development of new products etc.
  1. Are you eligible?

To qualify for IRAP, a business must:

  • Be a Canadian SME, incorporated and for-profit
  • Have 500 or less full-time employees
  • Want to grow profits through developing and innovating new technology-driven or improved products

 

  1. How can you apply?

You can contact EVAMAX today to discuss your project and your application. IRAP funding can be applied before project initiation.

Here are some things you can do to prepare your discussion

  • Project Overview
    • Overview of the project and what you propose developing
    • What problem does it solve?
  • About your business
    • An overview of your business
    • Why your business fits this effort and project
  • Financial Capability
    • Evidence that you can support the remaining salaries and costs
  • Economic Impact
    • The impacts of this project
    • How it will create revenue for your business
  • Project Plan
    • Timeline
    • Detailed phases
    • Cost estimates for each phase

 

  1. When can you apply?

IRAP funding is available year-round. The projects must be carried out during the fiscal year. This runs from April 1 to March 31 of the following year.

  1. Things to remember about IRAP
  • IRAP funding is applied for before the project and SR&ED tax credits are claimed after the project.
  • IRAP does not cover overhead costs
  • SR&ED does cover overhead costs
  • Your business might be eligible to use both SR&ED and IRAP funding for your projects

Contact EVAMAX today to see how this is possible and to learn more about SR&ED and IRAP.

The Canadian agricultural industry is huge. Federal and provincial governments provide various grants and funding options to further support it.

Here are the programs through which your business can secure funding right now.

Canadian Agricultural Partnership

  • The federal government provides support for agricultural business in Canada through the following five programs: AgriMarketing, AgriInnovate, AgriScience, AgriDiversity, AgriAssurance and AgriCompetitiveness
  • For more information regarding all five programs, contact EVAMAX for expert advice

AgriInnovate

  • AgriInnovate is a program with the federal Canadian Agricultural Partnership
  • This program provides contributions for projects that work to improve products that increase the Agri-sector competitiveness
  • It is also for projects that improve sustainability within the industry

Who is eligible?

  • All for-profit businesses that are incorporated in Canada are eligible
  • Eligible businesses must also:
    • Provide a minimum of 50% of funding towards eligible project costs
    • Ensure total requested funding does not exceed $10 million
    • Ensure combined government funding being applied does not exceed 75% of total costs

What projects are eligible?

  • Eligible projects include any that improve commercialization of innovative agriculturally based products
  • This includes technologies, processes and or services
  • The program also covers projects that work on the adoption of innovative agricultural products
  • Demonstration of innovative agricultural products and technologies are also accepted

How can you apply?

  • You can apply by following the two-step process
  • The first step is a Pre-screening that can completed by this online form
  • The second step is the application that includes the full proposal as well as supporting documentation
  • More information regarding this can be found here.

Agri Science

  • This program aims to accelerate innovation by funding pre-commercial science activities and R&D research that benefits the Canadian agriculture and agri-food sector
  • Farm owners can use these farm grants to financially support their market development efforts

Who is eligible?

  • All for-profit and not-for-profit organizations including businesses and corporations, co-operatives and Indigenous groups are eligible
  • Associations, corporations, co-operatives and Indigenous groups and other forms of not-for-profit organizations are also eligible

How can you apply?

  • This application is completed in a two-step process
  • The first stage is to complete a Project Summary form
  • Upon Summary form submission, you may be asked to submit a full application and this application should be processed within 100 business days

Agri Competitiveness

  • This program aims to help the Canadian agricultural sector leverage, coordinate, and build on existing practices while improving standards and regulatory environments
  • Funding can be used to expand capacity, expand skills and knowledge, and improve best practices

Who is eligible?

  • Eligible employers are not-for-profit organizations that operate nationally in Canada
  • This includes associations and Indigenous groups
  • Applicants must also provide a minimum of 50% funding towards eligible costs
  • Total funding for an applicant would also not exceed $1,000,000 a year

How can you apply?

  • The first step in this application process is to complete the Application forms including:
    • Executive summary
    • Signature of Applicant Authorized Representative
    • A copy of organizations Certificates or Articles of Incorporation
    • A copy of last two years financial statements
    • Project Endorsement Letters
    • Capital asset pre-approval for grants and contributions programs

Canada Job Grant (CJG)

  • The Canada Ontario Job Grant is a very valuable asset
  • It offers direct financial support for employers who wish to further train their employees
  • It is applicable to small, medium, and large businesses who want to deliver short-term training to new and existing employees

Who is eligible?

  • Individual, private, and not-for-profit employers are eligible for this grant
  • This grant is applicable to employers wishing to train either all employees or even one or two individuals
  • Additionally, employers must also:
    • Make minimum cash contribution to training costs
    • Employ individuals selected for training
    • Be licensed to operate in Ontario
    • Be training the individual for a job that is also located in Ontario
    • Comply with Health and Safety Act
    • Have adequate third-party general liability insurance
    • Comply with all applicable federal and provincial human rights legislation

How much funding can you receive?

  • The Canada Ontario Job Grant supports training costs up to $10,000 per individual
  • Additional flexibility is available for small employers
  • Employers with less than 100 employees may be eligible for $15,000 per individual

What training does this grant cover?

  • Tuition or other training provider fees
  • Textbooks, software, and other materials
  • Mandatory student fees
  • Examination fees
  • Potential travel costs (up to $500 over 24 km)

How can you apply?

  • For training grants more than 25 individuals, applications must be submitted through an online portal
  • For training grants less than 25 individuals, applications can be submitted online to a COJG service provider

You can find more information about COJG here.

EVAMAX specializes in applications for all government grants and funding. For any further questions, please contact EVAMAX.

Do you hire apprentices? If yes, did you know there are specific grants and credits you could receive just for doing that?

Here are 3 things you need to know about apprenticeship hiring credits.

1. What are the grants and credits?

Apprenticeship Job Creation Tax Credit

– This is a non-refundable investment tax credit equal to 10% of eligible salaries and wages
– An employer can claim up to $2,000 a year per eligible apprentice

Certain provinces also offer provincial support for employers. Please contact EVAMAX for more information regarding types of apprenticeship grants.

Ontario Apprenticeship Training Tax Credit

– Employers can claim up to 25% of eligible expenditures and 30% of expenditures for small businesses
– The maximum credit an employer can receive for each apprenticeship is $5,000 a year

B.C. Training Tax Credit

– This program offers refundable income tax credits for businesses that employ apprentices

– Sole proprietors, partnerships and corporations are all eligible for this tax credit

– There are three main elements:

     o Basic credit for up to $4,000 for the first 24 months of non-Red Seal training programs
     o Completion credit for between $2,500 and $3,000 for higher levels of Red Seal and non-Red Seal training programs
     o Enhanced Credit for up to $2,000 for First Nations individuals and people with disabilities

Apprentices themselves too can also apply for grants while they finish their training

Apprenticeship Incentive Grant

– This grant helps apprentices pay for their expenses while they train as an apprentice in a designated Red Seal trade
– The AIG is a taxable grant worth $1,000
– It is awarded to registered apprentices
– An apprentice can apply for this grant twice during their training

2. How can you assess your eligibility?

– You can see which grants apply to your business by following the eligibility criteria for all of the following grants:

     o Apprenticeship Job Creation Tax Credit
     o Apprenticeship Incentive Grant
     o BC Training Tax Credit
     o Ontario Apprenticeship Training Tax Credit

3. How can you apply?

– You can apply for these grants and credits as an employer as a part of your T2 Corporate Tax Filing.

– You can also find additional information here about the applications for each grant:

     o Apprenticeship Job Creation Tax Credit
     o Apprenticeship Incentive Grant
     o BC Training Tax Credit
     o Ontario Apprenticeship Training Tax Credit

o Ontario Apprenticeship Training Tax Credit

For any additional questions regarding grants and tax credits, please contact EVAMAX.

What is business expansion?

  • A business expansion is a type of growth strategy
  • It focuses on obtaining growth by increasing number of stores in which a business can offer their services
  • This also includes increasing sales and services in existing locations
  • An expansion of business products and services is also considered a business expansion
  • The Canadian Government offers multiple grant programs to support business expansion

How can you expand?

You can expand your business by following these simple tips:

1. Consider expanding your product line

  • This may sound simple but can be game changing for your business
  • Try to expand this by first evaluating which one of your products or services is most in demand and what else your customers might like to see
  • .Then, try to estimate a price level for these new services
  • Next, determine your profit margin from these new services and see if they are viable for your business

2. Try to increase your sales

  • To expand your business your need higher sales
  • This can be achieved by either creating new services to reach new customers or increasing sales to prior customers of the business
  • You can further penetrate your existing customers by dividing them into customer segments
  • You can then cater your marketing efforts to better target each identified customer segment for your business
  • Your business can then receive more sales from existing customers

3. Expand your business to newer areas

  • To get more sales, you could also move your business to a newer area
  • This new area might be new to a service of your kind and could gain a lot of attraction
  • The new customers can be in newer market segments and different locations from your current operations
  • Expanding to newer locations might also require additional investment, keep reading to find out about our favourite expansion grants

4. Reach out to new customers

  • Your business expansion efforts can also be targeted towards newer customers
  • This can be based off demographics such as age, gender, location, interests, activities, and values

5. Expanding into new channels

  • There are multiple channels through which your business can offer its services
  • Its important to remember that internet marketing and advertisement are some of the most effective ways to market today
  • Handful of companies have reinvented their business to take advantage of these online business opportunities
  • Service providers are able to reach a broader audience and attract customers from newer areas through online marketing

6. Create a business expansion plan

  • Following the tips mentioned above, draw out a planned map for your expansion
  • Factor in your goals as well as your expansion strategy
  • Set out benchmarks and checkpoints to evaluate your expansion efforts along the way
  • Following through on an established plan can help your expansion be seamless and smooth

Here are some of our preferred business funding programs and expansion grants!

Southwestern Ontario Development Fund (SWODF)

  • This program funds and supports businesses looking to invest in new facilities and equipment
  • It provides applicants 15% of project expenses to a maximum of $500k-$5M depending on their business

Rural Economic Development Fund

  • The RED program aims to support regional economic development activities of non-profit in the rural Southern Ontario
  • The program provides between 30% and 50% of eligible expenses to a maximum of $150,000 – $250,000

Market Readiness Program

  • This specific program supports academic spin-off companies, OCE accelerator graduates and SmartStart Seed Fund awardees for early-stage commercialization activities
  • This program offers up to 50% of expenses to a maximum grant of $125,000 – $250,000

Creative Export Canada (CEC)

  • This is a government funding program that offers funding for projects that generate export revenues and help Canada Creative Industries reach more people around the world
  • It provides up to 75% of eligible expenses to a maximum of $2.5M in government non-repayable contribution

CanExport

  • CanExport supports export marketing projects including participation in trade shows and government-led trade missions
  • It provides up to 75% to a maximum of $75,000 in grants per application and $99,999 annually

AgriAssurance: SME Stream

  • AgriAssurance’s SME Stream supports implementing third-party assurance certification projects that address international market requirements and help expand export opportunities
  • It provides up to 50% to a maximum $50,00 in non-repayable (grant) funding
For more information regarding any of these grants, please contact EVAMAX.

 

The COVID-19 pandemic has created tough conditions wherein the economy is suffering.

During this pandemic, some social institutions have risen to the times. They have faced the problem head-on. They have also looked to others for help.

Everybody has innovated to find solutions during this pandemic. Governments have had to innovate the right restrictions to protect others. Businesses have had to innovate their operations to fit these restrictions. Citizens have had to innovate to fit their lives to these restrictions.

This effort has brought together the government, civil society, and the private sector. The government is working with private businesses to find solutions to their problems.

Germany held its first government hosted a hackathon for the same reason. This event produced useful solutions while aiding collaboration. Hackathons have a history of providing the best solutions. They are dynamic and flexible allowing creativity. Participants gather in a common space and form teams. They then work to create a solution to the presented problem.

Currently, these hackathons are to create solutions to social challenges. People outside of the government create challenges. The City of Toronto, NASA, NSF, and UN, etc. have all used them in the past.

The German #WeVsVirus was special due to its need and scale. Typical hackathons give three months to prepare. This event came together in just four days. The social interest in the event surprised the organizers. Almost 43,000 people signed up and 26,581 participated. These numbers helped make this event the world’s largest hackathon to date.

Organizers crowdsourced problems and existing efforts. They were able to gather 1,990 problems from people and the government. After shortlisting, 42 categories separated the 809 problems. Participants had 48 hours to create their solutions. The solutions were then entered into the platform. Additionally, they also had to create a two-minute video pitch.

This contest got over 1,494 proposals. Industry experts and officials selected 197 of the best ideas. The hackathon jury then selected the 20 best projects.

The German government also supported the effort. They did this by launching a program to develop and carry out the proposed ideas.

This hackathon helped in two ways. It helped the government find solutions. But it was also helpful for participants. Mental health has been an issue during this pandemic. It has forced people to social distance themselves from each other and isolates themselves. Out of 20,000 participants, most said they felt better after working with others on this. One said, “euphoria, positive energy and persistence with which people worked, developed ideas and created innovation”. This helped bring positive energy to a hard situation.

Some of these solutions have been rushed to use. The first happened on April 10. The federal employment agency added the winning idea to its website. The ideal was a tool to help businesses and employers apply for short-term labor grants. This lets employers reduce employees’ working hours while paying them for lost earnings. Although this tool was added to the old portal, the proposed development time was short. It took only two weeks from start to finish for the tool.

Dorothee Bär is the German State Minister for Digitization. She said, “The number of the depth of solutions is impressive. We should think about using the hackathon for other problems as well”.

In Canada, the government is working with the private sector in a similar way. The government of Canada has several labor grants in place for this pandemic. The following:

Canada Emergency Wage Subsidy
Temporary 10% Wage Subsidy
– Work Sharing Program

are all available to Canadian businesses for support. Businesses looking for credit can access the Canada Emergency Business Account.

 

Like Germany, Canada too has options for governments and businesses to collaborate. The province of Ontario has the Ontario Together effort. Ontario has some of the most innovative businesses and efforts in the nation. The government has set up a website with problems they need solutions to.

On this, a business can put forward their ideas for the issues. The province has also set up a fund to develop and put the solutions to use quickly. Ontario and the entire nation are fostering innovation through this. This promotes collaboration between the private and public sectors. Together, this can help fight the pandemic.

The Government of Canada provides other support to innovation and research as well. The most common grant is the Scientific Research and Experimental Development Tax Credit Program. Canada Revenue Agency holds this program with the government. It awards tax credits to companies working on research and development projects. Businesses get a part of their expenditures back in tax credits and refunds. This can be up to 65% of project costs. This can include labor, materials, and contractors.

EVAMAX specializes in SR&ED and other grant applications. Contact EVAMAX today to see if your projects qualify for any grants.

The COVID-19 pandemic has created challenging conditions. Under these circumstances, economies and societies have struggled to find their bearings. During such times, citizens look to social institutions for guidance. This guidance helps bring peace and unity during times of distress.

During this pandemic, some social institutions have risen to the challenge. They have faced the problem head on and acted accordingly. For certain aspects, however, they have looked to others.

Everybody has been forced to innovate to find solutions during this pandemic. Governments have had to innovate appropriate restrictions to protect others. Businesses have had to innovate their operations to fit these restrictions. Citizens have had to innovate to fit their practices to these restrictions.

This collective effort has brought together the government, civil society, and the private sector. The government is actively working with private businesses to find possible solutions to their problems.

Germany held its first government hosted crisis hackathon for the same effort. This event produced useful solutions while promoting collaboration. Hackathons have a history of providing the best solutions. They are dynamic and flexible in setting and this allows creativity. Participants gather in a common space, form teams and work on providing a solution to the presented problem.

In the current situation, these hackathons are used to create solutions to social challenges. These are created by opening up development to people and organizations outside of the government. The City of Toronto, NASA, NSF, and UN etc. have all used them in the past.

The German #WeVsVirus was special due to its urgency and scale. Typical hackathons allow around three months of preparation. This event, however, came together in just four days. The organizers were pleasantly surprised by the social interest in the event. Nearly 43,000 people signed up and 26,581 participated. These numbers helped make this event the world’s largest hackathon to date.

Organizers crowd sourced problems and existing efforts. They were able to gather 1,990 problems from both: people and the government. After shortlisting 809 problems, they were separated into 42 categories. Participants had 48 hours to develop and submit their solutions via a hackathon platform called Devpost. Additionally, they also had to create a two-minute video pitch.

Collectively, this contest received over 1,494 proposals. Industry experts and government officials selected 197 of the best projects. The hackathon jury then selected the 20 best projects.

To support this initiative, the German government then launched a program to develop and implement the proposed ideas.

While this hackathon provided the government with solutions to problems, it also helped participants. During this isolation, the mental health of many has been compromised. Of the 20,000 participated, most expressed feelings of “euphoria, positive energy and persistence with which people worked, developed ideas and created innovation”. This helped bring positivity to an otherwise grim situation.

Some of these solutions have been fast-tracked to implementation. The first occurred on April 10. The government’s federal employment agency added the winning idea to its website. This tool helped businesses and employers apply for short-term labor grants. This allowed employers to reduce employees’ working hours while compensating them for lost earnings. Although this tool was simply an add on to the existing portal, the proposed development time was impressively short. It took around two weeks from conception to implementation for the tool.

German State Minister for Digitization Dorothee Bär said, “The number of the depth of solutions is impressive. We should think about using the hackathon for other problems as well”.

In Canada, the government is working closely with the private sector in a similar way. The government of Canada has several labor grants in place specifically for this pandemic. Funds such as the Canada Emergency Wage Subsidy, Temporary 10% Wage Subsidy, Work Sharing Program are all available to Canadian businesses for support. For businesses looking for credit, the Canada Emergency Business Account is available to access.

Similar to Germany, Canada too has options to collaborate between governments and businesses. Specifically, the province of Ontario and the Ontario Together effort. Ontario has some of the most innovative businesses and initiatives in the nation. The provincial government has set up a website with problems they need solutions to.

Via this platform, businesses can help propose their ideas and projects for the problem proposed. The province has also set aside a fund to help develop and implement the solutions as soon as possible. Through this, Ontario and the entire nation is fostering innovative collaboration between the private and public sectors to fight this pandemic.

The Government of Canada also provides other methods to support innovation and research. The largest and most common method for this is through the Scientific Research and Experimental Development Tax Credit Program. This program, held in collaboration with Canada Revenue Agency, awards tax credits to companies working on research and development related projects. Businesses can be rewarded a portion of their related expenditures in tax credits or cash refunds.

EVAMAX specializes in SR&ED and other grant applications. Contact EVA MAX today to see if your projects qualify for any grants.

We know SR&ED claims can become complicated. All the paperwork and procedures can seem confusing. But don’t worry. Follow these tips to make your SR&ED filing with EVAMAX easy as pie!

1. Assess your project eligibility early!

Your business and project can be planned better if you can determine your SR&ED eligibility early. This can be key in maximizing your claim and expenditures.

You can determine potential labour, material, and contractor expenses ahead of time and maximize the claimed amount.

To determine this, follow the prompts listed at the end of this article. For any further questions, please contact EVAMAX.

2. Active Time Tracking

The key to an easy SR&ED claim for your business and your SR&ED consultant is efficient tracking.

Ensure you have an active log system in place. This can help track employee hours based on projects and phases.

This log will help you accurately claim up to 65% of salaries paid to employees for research and development related work.

3.Organization

Organization is important for your claim. SR&ED projects typically deal with complicated and highly technical work.

As a part of your SR&ED claim, you will be responsible for a detailed report discussing your project. To make this process simpler, remember to keep track of all documentation and notes involved.

You can take this a step further by organizing documents, plans, evidence by phases of your project.

If your project does not have phases, chronological organization can also be helpful.

4. Ask questions

The added benefit of working with EVAMAX as your SR&ED consultant is the support available to you throughout your claim process.

From preparation and determining eligibility, to helping you collect the required documentation to speedy tracking of your claim, EVAMAX is here for your business.

Keep reading for more information about SR&ED tax credits .

What is SR&ED?

  • The SR&ED Tax Credit program stands for Scientific Research & Experimental Development Tax Credit program
  • It is a federal tax incentive program funded in partnership with Canada Revenue Agency
  • Businesses can use SR&ED credits to fund research and development projects
  • These projects can be used to create new or improve existing products
  • This innovation extends to products, processes, principles, methods, or materials
  • Tax credits are refunded at the end of a business’ fiscal year according to the project

Who can claim SR&ED Tax Credits?

  • A Canadian proprietorship, partnership or corporation conducting R&D is eligible
  • In order to qualify, your project must involve the three following criteria:
    1. Technological advancement
    2. Technical Content
    3. Technological Uncertainty
  • You can use the following prompts to determine your eligibility
    1. Does your project involve new formulations, designs and innovations?
    2. Do your methods make products cheaper, faster, better, or more durable?
    3. Does it propose enhancements, efficiency, or new product development?
    4. Does it address material changes, inconsistent product, or quality issues?
    5. Does it reduce the labour and resources required in production?

Which expenditures can be claimed under SR&ED?

For Canadian-controlled private corporations and small and medium sized enterprises, the following can be claimed:

  • Up to 65% of salaries for employees involved in the SR&ED project
  • Up to 32% of sub-contractor expenses related to the SR&ED project
  • Up to 42% of material expenses incurred for the SR&ED project

For Non-CCPC and Large CCPCs:

  • Up to 36% of salaries for employees involved in the SR&ED project
  • Up to 18% of sub-contractor expenses related to the SR&ED project
  • Up to 24% of material expenses incurred for the SR&ED project

You can have your qualifying expenditures refunded to you in as little as 3 months after filing!

EVAMAX are experienced SR&ED consultants . Contact EVAMAX today to see how you can use SR&ED credits to maximize your next R&D project.

Canada’s COVID-19 Measures

The COVID-19 pandemic has posed economic challenges for Canada. People have changed ways of living. These changes come after the government ordered social distancing measures. Employees work from home to allow social distancing. Essential services have remained open.

Many businesses have changed their structure to fit stay at home order. This pandemic has also cost businesses a loss and even closure. The government has put together funds and programs to support this need.

Extra Funding

The Canadian government released a new set of funds for businesses. This includes a $250 million funding increase in the IRAP program. The Industrial Research Assistance Program (IRAP) is one of many programs. The National Research Council manages this fund. This release also includes $1 billion for regional authorities.

Eligible businesses can use these funds to innovate. This financial assistance is used for purchases and labor costs. Most businesses applaud the government for their response to the pandemic. Some have complained that these funds prove insufficient for their business.

It has been difficult for the government to tailor programs to fit the needs of all businesses. The additional funding is to close this gap for small and medium enterprises.

Finance Minister Bill Morneau added,

“That is why we are taking unprecedented measures today to protect Canadian jobs. We are working in close consultation with all impacted businesses across the country to take action where it is required, and are prepared to take further targeted action as needed”

The National Research Council’s IRAP provides research and development grants to industries. These projects fuel technology innovation in Canada. The IRAP program has an annual budget of $310 million. This budget is getting an 80% boost with the extra funding released.

The Innovation Minister Navdeep Bains told Globe and Mail he hopes the extra IRAP funds will help 1,000 companies protect 10,000 jobs. He also stated, “if we need to do more, we will do more”.

IRAP Program

What is the IRAP program?

– Canada’s leading technology innovation program
– Offers funding, advisory services and industry connections to best consult on an R&D project
– Funding covers up to 80% of labour costs and 75% of subcontractor expenses.

Who is eligible?

– You must be a Canadian SME, incorporated and profit-oriented
– Have 500 or less full-time employees
– Have the objective to grow via development and innovation of products and processes

How Can Your Business Benefit?

If you are working on a qualified project, your project expenses can be covered upfront through IRAP.

EVAMAX specializes in IRAP and other funding applications. Contact EVAMAX today to see if your projects qualify!