The Government of Canada has several programs to help companies achieve various business goals, including expansion to international markets and generation of export revenue. This is the core value of the CanExport grant, one of the more popular grants in the country.

This article will try to provide all the essential details you should know about CanExport. If you need more information, you can talk to funding specialists from EVAMAX.

EVAMAX is one of the industry leaders in identifying and maximizing government grants for businesses across Canada.

What is the CanExport Grant?

CanExport is a government grant that provides financial aid and advisory services to help SMEs across Canada explore business development opportunities abroad.

It is designed for Canadian businesses to increase their presence in currently underdeveloped global markets.

For a foreign market to be considered viable, the sales generated in it by the applicant for the past 24 months must not exceed $100,000 or 10% of their total sales.

How Did COVID-19 Affect Its Implementation?

Grants involving travel are suspended for the time being. This includes trade shows, trade missions, and all visits to foreign markets. Support for these events will resume once travel restrictions are lifted.

If you have paid for an approved event and could not get a refund from the organizers, 75% of it will be reimbursed by CanExport SMEs.

If instead of a refund, the organizers offer credit for other events in the future, you can still claim this expense.

The COVID-19 situation is very fluid and could change at any given time. For the latest updates on CanExport and other government grants, you can reach out to EVAMAX.

Who Manages CanExport?

The program is managed by the Trade Commissioner Service (TCS) of Global Affairs Canada and the Industrial Research Assistance Program (IRAP).

The combined expertise of the two agencies allows them to deliver a wide range of services. This includes identifying all potential markets, international business partnerships, and opportunities that you would not think possible.

What Are the Sub-Programs and Their Funding Amounts?

CanExport SMEs is the most popular stream under the program. It offers up to $75,000 to eligible SMEs with export market development projects.

The Innovation stream targets small businesses focused on R&D rather than export opportunities. It enables participants to work with foreign partners in developing, adopting, and commercializing new technologies. It also offers up to $75,000 to qualified businesses.

The Associations stream is designed to help national trade organizations in creating business opportunities overseas for their members. Qualified organizations can get financial support to cover 75% of project costs to a maximum of $400,000.

Lastly, the Community Investments stream is open to Canadian communities looking to attract, expand, or retain foreign direct investments. It offers $3,000 to $500,000 for qualified projects, which can be used to cover up to 50% of eligible costs.

What is the Eligibility Criteria for Applicants?

The SMEs stream is open to for-profit companies with no more than 500 full-time employees and revenue of $100,000 to $100 million for the past fiscal year.

The Innovation stream accepts proposals from SMEs, academic institutions, and research centers. Applicants must fully or partially own the IP rights to a Level 4-ready prototype technology that can be launched within five years.

The Associations stream targets Canada’s trade organizations, business councils, and multi-sectoral organizations that are not profit-oriented.

The Community Investments stream is open to Canadian communities and non-profit indigenous organizations that are incorporated locally or federally.

What Activities Are Eligible Under the Program?

In light of the ongoing global pandemic, CanExport funding is limited to the following non-travel development activities:

• Gathering studies, reports, custom market research, and other forms of market intelligence
• Applying for IP protection internationally
• Applying for international market certification
• Fees for legal and business advice
• Launching an SEO campaign
• Translation or creation of marketing tools and materials
• Joining virtual trade shows, meetings, and networking events

Once it is safe to travel, support for international trade missions, foreign market visits, and other in-person events will resume.

How to Apply?

Here is a step-by-step guide on how to approach the application process:
1. Look for five potential export markets. Remember that the revenue you generated in this market for the past 24 months must not exceed $100,000 or 10% of your total sales.
2. Identify potential customers, trade shows, and other events available.
3. Determine the related expenditures such as promotional materials and registration fees. You must be able to show that these costs could generate sales in the target markets.
4. Prepare an outline for your export strategy, estimated budget, and proposed timelines.
5. Access the application forms online. These forms are eight to twelve pages long, not including the supporting documents.
6. Complete the application forms and other requirements, then submit them online. The time it takes to finish the application process depends on the export market readiness.

When Should You Start the Application Process?

Expenses incurred before the approval of the project would not be considered for funding, so it is important to start the application process early. Three months of lead time prior to the planned start date is recommended, especially for the SMEs stream, which is extremely popular.

When is the Deadline for Application?

The CanExport funding program has a continuous intake, so you can apply whenever you are able. Just take into account the lead time recommended when looking for a project.

How Long Does It Take for a Decision to Be Made?

The time it takes to process an application varies, but it could take up to 60 business days. If the application is not eligible, an email is sent explaining the reasons why the project could not be considered. Otherwise, you will be sent an approval and asked to sign a Contribution Agreement.

When Will the Funding Be Given?

Applicants must submit the claim immediately after the completion of the project, as outlined in the Contribution Agreement. It normally takes up to 20 days for claims to be processed.

Receipts are not required when claiming unless specified, but the applicant must keep them and maintain a record of expenses for the duration of the agreement.

What Are the Expectations for Qualified Applicants?

Once a project is approved and the Contribution Agreement signed, you will be responsible for submitting expense claims for the project. You will also be asked to submit detailed reports about the project’s progress.

Every year for three years after project completion, you need to submit a report describing how the project enabled your business to make an impact on Canada’s economy.

Can You Apply for CanExport Even If You Have Other Funding Sources?

You can apply for CanExport on top of other funding sources, but the maximum government assistance for any given project would not exceed 75% of the total cost.

Can You Submit Multiple CanExport Applications?

Companies can submit several funding applications, but the initial project must be finished before more export market development grants will be given.

Are you ready to explore business opportunities overseas? Call EVAMAX today and maximize your chances of submitting a successful CanExport application.


Technology has been evolving ever since man first learned to use stones as tools, but never has it seen such rapid development as it did in recent years.

Today, the world is in the 4th industrial revolution, a time dominated by artificial intelligence (AI), the Internet of Things (IoT), robotics, aeronautics, and other innovative industries.

Not only have the rules changed – we are now playing an entirely different game. And businesses that fail to keep up with the changing times will either fall behind or completely disappear into obscurity and irrelevance.

In Canada, as with the rest of the world, it is crucial for companies to recognize upcoming technological trends. This will help them understand and leverage opportunities as they emerge.

The federal government, through the Scientific Research and Experimental Development program, is always ready to help innovative businesses reach new heights.

The SR&ED program supports research and development R&D activities with much potential for groundbreaking discoveries, much like the ones below:

SR&ED Grants Canada for Emerging AI-as-a-Service Platforms

Artificial intelligence or AI has significantly changed the business landscape. And yet, we have barely scratched the surface.

Companies all over the world are only starting to explore the impact of AI in their daily operations. It offers a wide range of benefits, from streamlining business processes to enhancing customer experience.

But as businesses are still learning to live with AI-based applications, designing and deploying them internally will still come at a hefty price.

AI platforms are currently being offered by the industry’s tech giants. But the solutions they offer are broad in scope. This means that some customization is needed. This can get very expensive.
Still, today’s businesses can enjoy the full benefits of AI, thanks to emerging AI-as-service platform providers.

The IT industry is increasingly adopting the as-a-service business model to AI applications. This allows other companies to access AI services at a more reasonable price point.

It is critical that groundbreaking developments like AI services be available to as many companies as possible. This is the only way that customer satisfaction and business optimization be achieved at a meaningful level.

To this end, the SR&ED program is offering SR&ED tax incentives to IT companies engaged in eligible AI-related projects.

Eligible Canadian-controlled private corporations or CCPCs can earn an SR&ED tax credit of up to 35% of $3 million in qualifying expenditures. This includes a wide range of expenditures, including the following:

• Salary and wages
• Materials
• Contract costs on behalf of the claimant
• Overhead costs
• Third-party payments

Aside from CCPCs, proprietorships and partnerships can apply as long as they have an eligible SR&ED project. Admission to the SR&ED program is focused on the merits of the project and not the company.

SR&ED Funding for Autonomous Driving Projects

Autonomous driving has been gaining traction since the first “truly self-driving car” came out in the 1980s. While the current scope or depth is not yet at the level portrayed in sci-fi movies, reality may not be as far behind as you think.

The year 2021 will most likely be considered as the de facto golden age of autonomous driving as Tesla is set to make its fully self-driving system available as a subscription service.
Most Tesla cars already have the standard Autopilot feature with the automatic brake, accelerate, and steer capabilities, but the new package will take things to a whole new level.

Once operational, it will allow cars to recognize road signs and traffic lights, change lanes when needed, and even park themselves.

Aside from these capabilities linked directly to driving, other in-car features will also become increasingly automated. Data capture and analytics will see a bigger role in security, entertainment, and other functions. And in addition to cars, you can expect trucking and shipping to become more autonomous.

It is becoming apparent that this emerging trend in the automotive industry is much more than just passing fancy. In time, autonomous driving will be the norm and not the exception. Businesses impacted by this development must stay ahead of the curve and explore ways to use it to their advantage.

Innovative companies with ideas on how to accelerate the deployment or utilization of autonomous driving can get a much-needed boost from SR&ED grants. Using these grants, they can pursue research and experimental development activities that could help take autonomous driving to the next level.

For a project to qualify under this tax incentive program, it must meet five basic criteria:

1. A scientific and technological uncertainty is present
2. The hypothesis formulated is designed to reduce or eliminate the uncertainty
3. The approach used is consistent with a systematic investigation or search
4. The approach leads to scientific or technological advancements
5. The hypothesis tested and the ensuing results are documented as the work progressed

With the help of the SR&ED program and other government grants, it won’t be long before autonomous driving transforms the way we travel. It will lower the costs, reduce road congestion, and make commuting less stressful. Most importantly, it will reduce CO2 emissions and improve air quality.

The SR&ED Program: Helping Canadians Utilize Renewable Energy

Another emerging trend that could benefit from the SR&ED program is the use of solar energy in Canada.

In Canada, as with the rest of the world, sustainability is no longer just a buzzword used to generate interest from curious sectors. More and more people are embracing it as way of life.

Canada is abundant in land, with plenty of available roof space. It also receives more sunlight than places like the United Kingdom and Germany. Most importantly, interest in sustainable living is at its highest.

In short, Canada is primed for an increase in uptake for rooftop solar panels.

To date, there are around 40,000 rooftop solar panels installed all over the country, which leaves a lot of room for improvement. But with various government initiatives like the SR&ED program and IRAP funding, innovative companies can find new ways to make solar energy more accessible to Canadians across the country.

The SR&ED Program for Canada’s Innovative Industries

The program offers tax incentives to offset the R&D costs of eligible SR&ED projects, helping Canadian companies optimize their research budget. It comes as a deduction from the tax payable for the current year or income tax for the future years. It can also come as an investment tax credit.

If you are engaged in research activities involving innovative technologies, you should take a close look at how you can leverage SR&ED funding. Funding specialists like EVAMAX can help you put together a viable SR&ED claim.

To know more about Canada’s government grants like the SR&ED program and IRAP funding, call us today at EVAMAX or set an obligation-free consultation through our website.

Creative industries such as music, book publishing, digital media, and film production play an important role in Ontario’s economic development. They create jobs for thousands of Ontarians and open countless economic opportunities for business growth. And at a time when remote education and entertainment are prime commodities, these sectors are increasingly becoming more impactful.

This is why the provincial government is working hard to make Ontario’s creative industries more competitive. Over the years, various policies and programs have been launched to this end. First in line is the Ontario Media Development Corporation (OMDC) or Ontario Creates.

OMDC grants provide a wide range of subsidies and tax credits to Ontario’s cultural media cluster. These grants stimulate innovation, collaboration among private and public sectors, and increased capacity of the Province’s creative industries.

Some of these grants are offered as pilot projects that either become permanent or are active for only two rounds of funding. Others are offered on an ongoing basis.

If you need more information, you can talk to funding experts like EVAMAX. EVAMAX can help identify various funding sources for your business, including these OMDC grants:

OMDC Funding Programs

OMDC provides many incentives that can help grow Ontario’s creative industries. Below are some of the funding programs supporting the development and commercialization of various media projects.

The OMDC Interactive Digital Media Fund

The OMDC Interactive Digital Media IDM fund is designed to help the digital media sector meet the growing interest in interactive content. It offers grants to small businesses involved in innovative digital media content projects.

Interactive Digital Media IDM is open to Ontario-based profit-oriented companies that:

• Are incorporated or willing to be incorporated in Canada
• Have a proven history of developing content for interactive networks, platforms, or devices
• Have enough cash on hand to pay for 10% of the total project cost

For a project to qualify for OMDC funding, it must meet the following eligibility criteria:

• The interactive digital media content must give its users control and allow them to make decisions through browsing, searching, selecting, and other actions
• The content must have at least two of the following elements: images, sounds, and text
• The content is compatible with any of the existing interactive platforms, networks, or devices
• The content has the potential to be commercialized for education, information, or entertainment purposes

Eligible businesses will get a minimum of $10,000 and a maximum of $250,000. It can be used to pay for up to 50% of qualified project costs, including equipment, materials, labor, marketing, software, and overhead expenses. These must be incurred from local suppliers. Applicants will be further requested to spend in Ontario twice the OMDC funding amount awarded.

Funding for approved projects comes in three installments. The first 75% is given once the contribution agreement is signed, 15% upon submission of the interim report, and the remaining 10% when all project requirements are outlined.

ODMC sends out calls for proposals bi-annually, and applications are accepted through an online portal. For more information or the latest update please contact EVAMAX.

Film Fund

OMDC supports the film industry in Ontario through its Film Fund program. It is designed to encourage the production of local feature films through development and financing assistance. This opens up many opportunities for film producers in Ontario to pursue a wide range of projects across all genres and with either industrial or cultural potential.

OMDC funding for this program has two active pathways:

Development Stream

This stream supports all activities leading up to a film’s production stage. It is open to production companies incorporated in Ontario or federally. It also accepts applications from individual producers with Canadian citizenship or who have produced at least one feature film or TV movie in Canada.

Qualified applicants are given interest-free loans, which are payable once principal photography starts. The number of recipients and the amount of OMDC funding awarded is based on merit and the approved budget for the year.

Production Stream

This stream helps Ontario-based film producers finance the production costs of eligible projects. It stands as a last-in participant. At least 70% of the film’s production financing must be in place during the application.

The OMDC funding amount that can be requested for a dramatic feature ranges from $250,000 to $400,000, depending on the amount spent on Ontario-based labor and non-labor costs. Funding for documentary films is capped at $150,000.

Export Fund

The OMDC Export Fund is tasked to help Ontario’s creative industries generate export revenues. It provides funds to media businesses, book publishers, and film or TV companies to offset marketing and travel costs when expanding into previously untapped global markets with income potential.

Export funding has two active pathways:

Stream 1: Books

This stream is open to profit-oriented book publishers in Ontario with the following criteria:
• Operating for a minimum of one year
• At least 50% of total sales revenue is from books
• Have sales of at least $20,000 for Canadian-written books
• Published at least six titles written by Canadians
• Have a detailed export development plan for a number of books

Stream 2: Ontario Film and Television

This stream accepts applications from Ontario-based production companies that meet the following criteria:

• Profit-oriented and operating for at least one year
• Have a detailed plan on how to explore export markets for a number of projects

Activities supported by the program include attending marketing events, media trips, sales tours, and trade missions managed by governments. Qualified applicants could get up to $15,000 to cover a maximum of 50% of total costs from travel, accommodation, marketing materials, and other eligible activities.

OMDC Tax Credits

Aside from OMDC funding, support from the program can also come in the form of tax credits:

OFTTC

The Ontario Film and Television Tax Credit or OFTTC offers refundable television tax credit based on eligible labor costs of approved projects. It is open to Canadian corporations permanently based in Ontario and filing corporate tax returns in the province. Individual producers paying taxes in Ontario for the past two years are also welcome to apply.

Qualified applicants generally receive up to 35% of eligible labor costs for approved projects. First-time producers are given an enhanced credit of 40% for the first $240,000 in eligible labor costs and 35% on the remaining balance.

OIDMTC

The Ontario Interactive Digital Media Tax Credit or OIDMTC offers refundable media tax credits based on eligible costs from approved products or digital games. Strong focus is given to entertainment and educational products for children below 12 years old.

To be eligible under the program, an applicant must be a:

• Canadian corporation
• Have a permanent establishment in Ontario
• Developed an eligible interactive digital media product at the permanent establishment

Qualifying corporations that develop and market eligible, non-specified products can claim tax credits worth 40% of qualified expenditures. This includes marketing and distribution costs paid within 60 days of the tax year end. The amount of the credit is capped at $100,000 for all tax years.

A qualifying corporation working on specified products can claim 35%. This applies to digital gaming companies with a minimum of $1 million in eligible labor costs accrued over 36 months.

Specialized corporations with at least $500,000 worth of labor costs per year for developing eligible digital games are entitled to a 35% tax credit.

OPSTC

The Ontario Production Services Tax Credit or OPSTC is designed to create employment opportunities for Canadians specializing in the production industry. It offers refundable tax credits based on eligible production costs, at least 25% of which must come from labor costs. Funding cap is set at 21.5% of the total qualified expenditures.

Canadian-controlled or foreign-owned companies based in Ontario are welcome to apply. They must pay corporate taxes to the province and own the copyright for the proposed project. Applications are sent to OMDC or Ontario Creates for a certificate of eligibility, which is needed when filing for a claim at the Canada Revenue Agency or CRA.

OCASE

The Ontario Computer Animation and Special Effects tax credit or OCASE offers OMDC tax credits based on eligible costs. Qualified companies could earn an 18% return on computer animation and special effects projects, while eligible labor costs have no cap.

Canadian or foreign-owned companies permanently based in and paying corporate taxes to Ontario can apply. Qualified applicants will receive a certificate of eligibility, which they can use to submit a claim at the CRA.

To learn more about OMDC grants and other sources of funding, call EVAMAX today. EVAMAX has a team of funding specialists that can help you identify and access the best grants for your business, wherever you are in Canada.


The National Research Council is the primary research and development agency in Canada. It is mandated by the federal government to deliver the Industrial Research Assistance Program or IRAP – one of the most impactful initiatives of its kind in the country and throughout the world.

IRAP Canada is designed to stimulate economic growth in the country through technology innovation. Its strategy is to provide a combination of services and funding for small and medium sized businesses to increase their research capabilities.

Do you own a small business and need research funding? The IRAP grant offers a great solution. It accepts applications from all Canadian SMEs engaged in various innovation activities. If you need to know more about how it works and how you can maximize it, EVAMAX can help. EVAMAX is a fund finding expert specializing in innovation grants.

Why Should Small Businesses Innovate?

Innovation can be characterized by the emergence of something new. It can be anything from an original product, a better way of doing things, or even a novel idea with the potential for practical applications. Without anything new, there is no innovation. And without innovation, there is no progress.

In essence, the future of the country depends on it. It allows small businesses to stay relevant in an increasingly competitive market, at home and abroad. It solves critical problems and removes barriers to economic growth.

Why is Research Important for Innovation?

Research is important in the above paradigm because innovation grows naturally out of it. Research turns a new idea into something concrete and actionable. Companies at the forefront of their respective industries invest heavily in R&D activities. Those that do not get left behind.

What is the IRAP Program?

Along with SRED, the Industrial Research Assistance Program IRAP is one of the most effective funding programs initiated by the government. It has allowed the National Research Council of Canada to help SMEs across the country for over 70 years, offering financial assistance, mentorship, and access to R&D experts.

What Makes IRAP so Effective?

As a Canadian government program, IRAP funding accessed by eligible companies does not require repayment. It is referred to in the industry as “free money.” If your business is not getting any, you are missing out. It allows even small businesses to pursue R&D activities and challenge bigger companies.

It is important to note that chasing after IRAP funding involves a fair amount of paperwork. To optimize your chances of making a successful claim, you must prepare all the necessary requirements. This is where EVAMAX can help. EVAMAX is among the industry leaders in terms of approval rate and turnaround time.

What Can You Get from IRAP Grants?

IRAP funding can cover up to 80% of salaries and 50% of contractor costs for qualified projects. This comes in the form of non-repayable government funding assistance. The grant amount to be awarded is determined by an Industry Technology Advisor ITA.

IRAP funding amount is generally capped at $150,000, but more can be given after thorough review by the ITA. Funding can be accessed through four streams, each with a specific objective and its own funding specifics.

Stream 1: Small Technology Innovation Projects

This stream is also known as the Accelerated Review Program or ARP. It is designed to speed up the commercialization of new technology through R&D. Eligible businesses could get up to $50,000 to cover 80% internal labor costs and 50% of contractor costs.

Stream 2: Mid-Sized Technology Innovation Projects

In line with the core values of program, this stream aims to remove the barriers that prevent the commercialization of new products. It offers a larger grant of up to $10 million to qualified businesses. This money should be used for internal R&D projects, covering 65% to 80% of eligible labor costs. It can also be used for other activities, such as creating original software.

Stream 3: Youth Employment Strategy Program

This stream focuses on young students or graduates between the ages of 15 and 30. It is designed to enhance the skills of young people and prepare them for a fruitful career in the technology industry. Eligible companies can hire up to two students or graduates. They will receive a budget of $30,000 for each hire, and the expected duration of employment is six to 12 months.

Stream 4: Digital Technology Adoption Pilot Program

Also known as DTAPP, this stream is managed by IRAP as a standalone program. It targets small and medium sized enterprises struggling to adopt new technology. Its end goal is to make Canadian SMEs more competitive against their foreign counterparts.

DTAPP helps small and medium sized businesses in three ways:
⦁ Provide funding and mentorship to Canadian businesses for projects involving digital technology adoption
⦁ Collect data and generate best practices for digital technology adoption
⦁ Promote the benefits of using digital technology for SMEs across Canada

Businesses that qualify for the program will get $100,000 worth of non-repayable funding to cover 80% of internal labor costs and 75% of contractor costs.

Many programs have been launched to address digital technology challenges faced by SMEs in Canada. However, most of them operate at the regional level.

DTAPP is trying to address the issue at a national level. IRAP Edmonton is the same as IRAP Canada, and a network of over 130 offices across the country offer the same level of financial support.

What is the IRAP Funding Criteria?

For your business to qualify, it must meet the following basic requirements:

⦁ Canadian small and medium companies incorporated provincially or federally
⦁ Profit-oriented companies
⦁ Have no more than 500 full-time equivalent employees
⦁ Have long term plans to make a positive impact on the economy by developing, improving, and commercializing technology-driven products or using technology to improve productivity.

What are the IRAP Application Requirements?

Aside from the above criteria, an applicant will be asked to submit the following requirements:

⦁ Leadership team capable of managing an approved project
⦁ Financial capability to cover additional expenditures from approved projects
⦁ Company skills relevant to product development and marketing
⦁ Overview of the technology involved, including potential barriers to project completion
⦁ An estimate of the project’s economic impact upon completion, including potential market share and proposed marketing strategies
⦁ Detailed plan or funding proposal, including timelines and project costs for each milestone

For a more streamlined application, you should prepare the above requirements before approaching a local ITA.

When is the Best Time to Apply?

IRAP follows the fiscal year cutoff of April 1 to March 31 of the following year. Funded projects must be carried out within this period. The program does not specify a deadline for any of the streams, and the application is an open-intake, but it is best to start applying as the fiscal year begins when funding support is replenished.

To maximize your chances at a successful application, talk to our experts here at EVAMAX. We can help you complete your IRAP application form, submit a successful claim, and significantly reduce the turnaround time.

Business success is a moving target. For a company to achieve its long-term goals, it must keep up with the changing times through innovations. This is especially true for developed countries like Canada. Canadian companies must be responsive to evolving technologies and the subsequent changes in consumer behavior.

At the heart of every innovation is research and development or R&D. R&D Canada gives businesses an edge against local and global competition. It also helps small companies compete against their more established counterparts. The key is for them to stretch and maximize their R&D budget.

It is for this reason that the Government of Canada provides many forms of funding for small businesses. Access to any of these government programs is an effective equalizer. With these grants, R&D activities are not just reserved for large companies with significant research budgets. Small businesses can also find ways to challenge products that currently have a firm grip on the market.

The government of Canada provides funding in two ways: through grants and tax credits. An R&D credit is a deduction from taxes owed, an example of which are allowances for R&D capital expenditures. A grant is a sum of money that is given conditionally but does not require repayment. Either of these can be used to launch essential R&D initiatives that could lead to the creation of new products, improvement of existing ones, or the use of new technology to increase productivity.

To navigate the complex landscape of government funds, you should talk to funding experts like EVAMAX. EVAMAX can identify which grant suits your needs and help you submit a successful claim. You can discuss with them any of the following R&D funding programs offered by the Government of Canada:

R&D Credit from SRED Tax Incentive Program

No discussion about government grants can begin without mentioning the Scientific Research and Experimental Development SR&ED program. It is a federal tax incentive program offered through the Canada Revenue Agency or CRA. SRED is arguably the most successful and generous funding source in Canada. It helps over 20,000 businesses every year in their pursuit of research and development projects.
In 2015 alone, the program was able to offer over $3 billion worth of funding. Eligible businesses were able to access SRED funding in three ways:

  • An R&D credit for tax owed
  • A deduction from the income tax
  • A refund of eligible costs if no research and development tax is owed

Activities Funded by SRED

The Scientific Research and Experimental Development grant is a backdated refundable tax credit given to eligible businesses four to 12 months after an approved project is completed. It can be used to cover a wide variety of related costs, from wage subsidy for R&D experts to certain overhead costs:

  • Salaries and wages of employees working directly on an approved project
  • Materials consumed or transformed during approved research and experimental development activity
  • Costs from approved SRED work, whether in-house, through a third party, or with the help of schools and other entities.
  • Third-party payments for outsourced SRED work, as defined by program policy

Who Can Apply?

SRED is open to Canadian controlled private corporations or CCPCs. Eligible CCPCs could get up to 35% worth of R&D credit to cover eligible project costs. The funding cap limit is set at $3 million.

R&D Canada through IRAP

Aside from the SRED tax credit, another government funding program that stands out is the Industrial Research Assistance Program or IRAP. IRAP is delivered by the National Research Council or NRC and is designed to help innovative businesses engage in research and development R&D projects. Its ultimate goal is to stimulate economic growth and create jobs throughout Canada by leveraging innovation.
Activities Funded by IRAP

IRAP supports various activities designed to remove the barriers against internal innovation. This includes the implementation of new software, projects to help boost productivity, and design to marketing of new products.

Eligible businesses could get funding of up to $50,000. It can be used to pay for 80% of the salaries and 50% of contractor costs of approved projects. The funding amount is generally capped at $150,000.

Who Can Apply?

For businesses to qualify for the IRAP, they must be incorporated in Canada for the past two years. In addition, the company must have no more than 500 full-time equivalent employees.

Support from the SIF

The Strategic Innovation Fund or SIF is next in the long line of successful R&D funding programs launched by the Government of Canada. It is designed to support businesses in their quest for technology development projects through R&D Canada.

Activities Funded by SIF

Eligible businesses can access SIF in two ways: through the Business Innovation and the Growth streams. SIF supports large innovative projects with over $10 million worth of expenditures. It offers financial support that can be used to cover up to 50% of qualified expenditures. It can come as a combination of repayable and non-repayable contributions.
Projects that target technology development acceleration have a chance to qualify for one stream of the program. Efforts to accelerate the introduction of innovative products into the market are supported by the other.

Who Can Apply?

SIF is open to businesses across all sectors throughout Canada, especially those engaged in projects that promote technological development and product commercialization through R&D. If the project is an integral part of a company’s long-term business plan, there is a higher chance of qualifying.

Specific eligibility criteria depend heavily on the type of business and what industry it is in. To find out if SIF is a good fit for your business, you can talk to fund finding experts like EVAMAX.

Collaboration Through the CIIP

The Canada International Innovation Program or CIIP is a government program that encourages collaborations with international partners. Countries included in the program are Brazil, China, India, Israel, and South Korea. For projects to qualify under the CIIP, they must have the potential to achieve commercial success.

Activities Funded by CIIP

CCIP supports activities such as technology adaptation, validation, and co-development. Qualified projects could receive funding of up to 50% of relevant costs, up to a maximum of $600,000.
Networking events that could lead to collaborative projects involving R&D Canada and foreign partners are also eligible under the program. CIIP can cover a maximum of 50% of eligible expenditures, up to a maximum of $15,000.

Who Can Apply?

Small and medium-sized Canadian for-profit companies seeking to improve products, services, and processes are welcome to apply. They must be willing to collaborate with foreign partners. In addition, the project involved must be commercially viable.
Non-Repayable Funding from ISC
Innovative Solutions Canada or ISC is a proposal-based initiative launched by the Government of Canada. It is designed to help business innovators bring new ideas to the market. A strong focus is given to projects that provide solutions to departmental challenges within the federal government.

Activities Funded by ISC

ISC supports technology research, product development, and its ensuing commercialization. Eligible businesses with an approved proposal could get $150,000 worth of funds for Phase 1, which is proof of concept. Concepts that meet the criteria are invited to Phase 2 (product development), where they will be awarded up to $1 million. If the prototype from Phase 2 meets the needs of the government, they will purchase it from the business, providing a pathway to commercialization.

Who Can Apply?

ISC is open to start-ups and SMEs from all industries and across Canada. They must be incorporated in the country, whether federally or provincially. Applying companies must have less than 500 full-time employees, and at least half of them must be based in Canada.
Final Thoughts on R&D Canada

The Government of Canada has many innovation funding programs that can help businesses meet various business goals. This includes doing research activities and product development projects that can bring innovative ideas to market.

If your company lacks technical and technological capabilities, you can still pursue innovation. Using funds from government grants, you can hire R&D experts, purchase the necessary equipment, or outsource other activities.

The grants discussed above are just some of the many being offered in Canada. All you need to do is find the one best suited for your needs. If you want to know more about potential funding options available to you, EVAMAX can help.

EVAMAX has served over 900 clients, helping them gain access to over $115 million in funding. Call today for an obligation-free consultation and find out how you can get free money for your business.

Technology is making the world smaller and changing the way things are done in profound ways. For national economies, it made international trade not only possible but necessary.

Developed countries like Canada are looking more and more to overseas markets to generate income and grow the economy. In this model, Canadian businesses must find ways to fit into the new global environment.

The Government of Canada is always looking for ways to help businesses expand into an untapped international market. To this end, many programs have been launched at the federal and provincial levels.

One of the most popular and successful government grants is CanExport, a funding program designed to support businesses in their export market development projects.

Since it was launched in 2016, CanExport, has helped thousands of businesses gain a foothold into the international market. Still, it offers a huge opportunity that many other companies have yet to tap into.

If you are looking to grow your business globally, you should take a closer look at this funding program. You could talk to funding experts like EVAMAX before putting together an application. Below are some details about CanExport, to get you started.

What is the CanExport Program?

The CanExport grant is a Canadian government funding program created to help businesses expand into underdeveloped international markets. It is delivered by IRAP and Global Affairs Canada, specifically Canada’s Trade Commissioner Service or TCS.

Within the first 24 months of its launch, CanExport, grant beneficiaries were able to generate export revenues amounting to $375 million, making it one of the more effective government programs in Canada.

Due to its success and the increasing demand from businesses, Canada’s government expanded the program in 2018. CanExport, got more funding and was allowed to accept a wider range of applicants.

Through CanExport,, eligible businesses can pursue export market development activities more effectively. This includes joining in trade shows and trade missions where company representatives can meet potential clients from the export market.
Interested applicants can access CanExport, in four ways. Each stream has a specific objective, but all are designed to help businesses, industries, and communities expand globally.

The CanExport SMEs for Businesses

The CanExport, SMEs is the most popular stream of the funding program. In this stream, small and medium-sized businesses can get up to $75,000 in funding. This amount can be used to support international business development activities or to cover marketing costs to a maximum of 75%.

It is important to note that for businesses to qualify for this program stream, they must have little to no presence in the overseas market they are trying to break into.

Activities Funded by CanExport SMEs

The program supports the following non-travel activities:

    • Doing market research
    • Gathering reports, studies, and other forms of market data
    • Getting property protection in overseas markets
    • Getting certified in overseas markets
    • Getting professional business and legal advice
    • Launching an SEO campaign to boost online visibility
    • Creating, adapting, or translating international marketing tools and materials
    • Joining in virtual trade shows, networking events, meetings, and conferences

Once the travel restrictions are lifted, support for the following activities will resume:

    • Traveling to preferred export target markets
    • Going to trade missions
    • Joining in face-to-face trade shows, meetings, conferences, and other networking events

Who Can Apply for the CanExport SMEs?
Small businesses and medium-sized companies must meet the following eligibility criteria:

  • The company must be for-profit
  • The company must be incorporated or be a limited liability partnership
  • The company must have no more than 500 full-time employees
  • The company must have annual revenue between $100,000 and $100,000,000 for the past fiscal year
  • The eligible project must cost no less than $20,000

CanExport SMEs was updated recently. The maximum funding for online promotions, including SEO, was increased to $50,000 per project. Expert advice for digital marketing was also included in the list of eligible activities.

The CanExport Innovation

This CanExport funding program stream is designed to support pioneers from Canadian businesses. It grants up to $75,000 in funding, which can be used for research and development activities involving a single technology. It can also be used to cover up to 75% of costs from pursuing and signing R&D collaborations with international business partners or investors.

Activities Funded by CanExport Innovation

The following activities are supported under the program stream:

  • Shipping of technology to evaluate the compatibility with a global partner
  • Applying for protection of intellectual property in overseas markets
  • Getting certified in global markets
  • Hiring expert legal and business advice for export marketing
  • Creating, adapting, or translating a promotional plan

Joining virtual conferences, meetings, and other forms of networking
Once the travel bans are lifted, face-to-face activities supported by the program will resume. This includes going abroad to meet with potential business partners or investors.

Who Can Apply for the CanExport Innovation Program?

This CanExport program stream accepts funding applications from Canadian SMEs, academic institutions, and non-government research centers. The organization must also have the following qualifications:

    • Registered in Canada
    • Have a Canada Revenue Agency or CRA business number
    • Have ownership, co-ownership, or authority over the intellectual property rights for the technology
    • Have a prototype with a Technology Readiness Level of 4 or higher
    • Have plans to launch the technology commercially within the next five years

The two remaining streams under the program are the CanExport, Associations and the CanExport, Community Investments. These programs are open to not-for-profit organizations or Canadian communities and designed to help entire industries and communities.
The Application Process

If you want to gain access to the CanExport, funding, you must first identify a trade show, export event, or any international marketing activity you want to join. It is also important to note that the application process must be initiated at least eight weeks before the cost will be incurred, so you must plan well ahead of the event.

Application forms, which are eight to ten pages long once completed, are available online. In addition to these forms, supporting documents will be needed. This includes a detailed outline of the export strategy, estimated budget, and projected timeline.

To maximize your chances of making a successful claim, you should discuss the application process with a funding expert like EVAMAX. For the past 17 years, EVAMAX has helped more than 900 clients access over $115 million in funding.

To learn more about CanExport, and other funding sources like SR&ED and IRAP, call EVAMAX or visit the website now.

Only a few business owners have not heard of the Scientific Research and Experimental Development Program or SRED grant. Still, not many have successfully claimed for SRED financing. They either fail to submit an application believing that they do not qualify or were not prepared enough and fell short in their attempt.

This SRED Guide will help you avoid both situations. After you read this article, you will gain a deeper insight into this generous tax incentive program, find out if your business is eligible, and learn the basics of how to apply.

It is important to note that consulting with a fund finding expert like EVAMAX is still your best option. Companies such as EVAMAX specialize in government grants like SRED and will put you in the best position to submit a successful claim.

Nevertheless, this article will help you take the first and most important step: deciding to go for the SRED grant. It will also help you negotiate the complicated process of SRED Ontario, which is a very generous government grant for Canadian businesses.

What is the SRED grant?
The SRED grant is a federal tax incentive program administered by the Canada Revenue Agency or CRA in behalf of the Canadian government. It is one of the many ways that the government encourages Canadian businesses to engage in research and experimental development.

If you run a small business and feel that the SRED is not for you, think again. Of the $3 billion or more that the SR&ED program gives every year, 75% go to small businesses across all sectors. As long as you invest in R&D and are involved in eligible scientific research and experimental projects, you can apply for SR&ED financing.

How Can Businesses Benefit from SRED?

The SRED grant is perhaps the largest incentive program from Canada’s federal government. Every year, it helps over 20,000 businesses conduct scientific research and experimental development projects.

Without SRED funding, many of these businesses would not be able to do R&D work on their own. It means that, absent the SRED grant, technology and innovation among business sectors will remain stagnant, and Canada’s economy would not be viable for very long.
There are three ways that eligible businesses can benefit from SRED financing:

⦁ Through an SR&ED investment tax credit
⦁ An income tax deduction
⦁ A refund for eligible expenditures

What Expenses Are Eligible for SR&ED Claims?
The SR&ED tax incentives can be used to cover various eligible costs:
Salary and wages The SRED grant covers salaries and wages of employees directly engaged in the eligible project, including the following:

  • Taxable benefits
  • Bonuses
  • Profit-based compensations
  • Inducements and non-competition payments

The SRED financing for salaries and wages can be computed by proxy method or traditional method. If you use the traditional method, you can include the salaries and wages of those supervising or supporting the SR&ED work.
Materials for SR&ED

According to CRA’s guidelines, the term “materials” applies to raw materials, substances, and other items that are relevant to the SRED process in two ways:

  • When materials are consumed while doing the SRED work
  • When materials are transformed during the SRED process

Whether you use the proxy or traditional method, the material cost involved must be an expenditure of a current nature instead of a capital nature. Some examples of capital expenditures are the purchase of equipment, data, or software license. These and similar material costs are not eligible for SRED financing.

SRED Contracts on Behalf of the Claimant
Qualified businesses can carry out the SRED work in-house, through a third party, or with the help of other entities such as schools and not-for-profit SRED corporations.

If you lack the skills or facilities and decide to hire a third party, you can claim 80% of the expenditures through SRED financing. The company you hired could also submit a claim, but their eligible expenditures would be reduced to prevent duplication of SRED benefits.
Overhead Costs

The overhead cost specific to the SRED grant is different from the generally accepted term in accounting principles used across Canada. For SRED, overhead costs refer to expenditures resulting from the pursuit of SRED activities as outlined by the SRED’s policy.
Costs stemming from the provision of premises, facilities, and equipment needed to execute the qualified project are SR&ED refundable.
These guidelines are discussed more thoroughly in Form T661, which the official SRED expenditure claim form. Expert fund funders such as EVAMAX could help you with this.
Third-Party Payments

Aside from contract expenditures incurred from hiring other entities to do SRED work, the program also covers third-party payments. However, it can be hard to tell the difference between the two. There are five ways to know if you are dealing with one or the other:

  • Third-party payment applies if the performing entity controls the project. If the Claiming party is in control, then contract expenditure applies.
  • If the right to exploit the results of the project is exclusive, it falls under contract expenditures. If it is non-inclusive, it is classified as a third-party payment.
  • If there are two funders or more, it is deemed a third-party project. Otherwise, it falls under the contract expenditure.
  • If the SRED project is commercially focused, then it falls under contract expenditures. Basic or applied research is considered a third-party project.
  • If the tax is accrued, it generally falls under contract expenditures. If the tax treatment is on a cash basis, the third-party payment applies.

Who Are Eligible to Apply?
Businesses across all sectors can apply for the Scientific Research and Experimental Development SR&ED grant. However, different types of companies will have different ways to access the grant. Additionally, the amount they can get in the form of an investment tax credit, income tax reduction, or direct refund will also vary.

Private Corporations Under Canadian Control
As defined by the CRA, a Canadian Controlled private corporation or CCPC is a company that has been up and running in Canada since 1971 and is being controlled by a resident of Canada. Also, it must not list its shares outside of the country.
Qualified CCPCs could earn a refundable ITC amounting to 35% of eligible projects worth up to $3 million.
For CCPCs that meet the criteria for a qualifying corporation, a refundable ITC of 15% for over $3 million is added, and 40% of the ITC can be recovered in the form of a tax credit.

Individuals (Proprietorship) and Trusts
Proprietorships and trusts with eligible projects can apply for the SRED grant. If they qualify, they could get up to 15% worth of tax credits for eligible expenses. If the tax credit surpasses the tax payable, 40% of this amount can be accessed in the form of a refund.

Other Corporations
Companies not classified as CCPCs can still apply. If their projects qualify, they get a non-refundable tax credit amounting to 15% of the eligible expenditures.

Partnerships
Members of a partnership that do not pay taxes could not earn a tax credit directly. Still, those with projects eligible for SR&ED are encouraged to apply. For eligible claimants, the tax credit would first be computed at the partnership level before being allocated to qualified members.

What Documents Are Required When Submitting an Application?
The type of supporting documents required will depend much on the nature of SRED work being carried out. These are general information and record of various forms proving that SRED work was done in the year resulting in qualified expenditures. Below are some examples:

  • Documents showing project planning
  • Documents indicating the design of the experiment
  • Technical drawings and design documents
  • Laboratory notes and project records
  •  Records or trial runs
  •  Test protocols, data analysis, and conclusions
  • Photographs and videos showing SRED work
  • Proof of payments and accounting records

It is best to keep all documents and evidence to support your claim. If the CRA selects your project, a committee will review all of them.
The complex application process can be discouraging, especially if you are a first-time applicant. It is best to submit an application with the help of CRA and a fund finding expert like EVAMAX.

How to Submit an Application
Interested parties must include a completed Form T661 when filing for an income tax return. You can provide technical information using this form. Qualified SRED expenses will also be calculated in the T661 Form. For corporations, Form T2SCH31 is needed on top of Form T661. For individuals, you must submit Forms T2038 and T661.

You can use Form T4088, which is a guide to Form T661. Fund Finding experts like EVAMAX can help you make sense of all the relevant forms and the entire application process.

Take the First Step
Are you ready to take the first step toward reduced R&D costs and a more innovative business? Let EVAMAX help you navigate the complicated SRED application process. EVAMAX specializes in SRED grant and other government grants in Canada.

Give us a call and be one of Canada’s innovative businesses who have benefited from the SR&ED.

Not-for-profit organizations or NFPs exist for a higher purpose. Even so, while NFPs do not operate for money, they do need money to operate. And given the important nature of the work they do, they must have access to funds at all times.

Most NFPs are skillful at creating development programs for communities. Yet, few are adept at obtaining grants for nonprofit organizations. This lack of financial acumen often leaves many questions unanswered. However, one stands out: where can NFPs get the money they need?

The urgency of this question only intensifies with the ongoing pandemic. Registered charities, a generous sponsor, or a kind donation would be harder to come by, given the enormous strain that the economy is under. While the problems that ail many communities, the very reason that NFPs exist, still prevail. The current situation calls for more aid, not less.

Canada has many funding programs to help NFPs in their unique objectives. The key is finding the ones where your NFP would qualify. Or, you can consult with an expert in sourcing funds, like EVAMAX.

Below are some government grants available in Ontario and the rest of Canada.

The FedNor Grants for Nonprofits Ontario

FedNor is an organization created by the federal government. It helps communities in Northern Ontario make an impact on the region’s economy.

FedNor provides support directly to profit organizations, but it also helps communities and NFPs create the right economic growth conditions. The program aims to enable business growth and competitiveness in local communities. It includes projects involved in commercializing products and helping them enter into new markets.

FedNor also recognizes the impact of the COVID-19 virus on the regional economy. It aims to support nonprofit organizations hardest hit by the pandemic. Through its Regional Relief and Recovery Fund, NFPs could receive up to $500,000 in government funding.

The Northern Development Initiative Trust

Foundations corporations like the NDIT are established through provincial legislation. It aims to stimulate economic growth throughout central and northern British Columbia. This funding source invests in community projects at the grassroots level. It also works closely with municipalities in building a strong economy.

Northern Development has many grants for nonprofits Ontario area. Projects that accelerate economic development and innovation are eligible to apply.

If you qualify, you will get grant funding for various economic development activities. It includes renovating multi-use facilities, improving the façade of business establishments, and revitalizing roads and town centers.

The Eastern Ontario Development Fund

The EODF is a government program designed to spur economic growth in the region. It supports small businesses, municipalities, and not-for-profit organizations by providing financial support and more.

The program offers grants for nonprofits that create job opportunities and build talent. It also helps communities attract innovation-based investments from the private sector.

NFPs who wish to apply must have the private sector’s support and have a project worth at least $100,000. Those who qualify can reimburse 50% of eligible project costs up to $1.5 million.

The Strategic Economic Infrastructure Program

This program supports projects that help strengthen the communities in Northern Ontario. Job creation and business diversification are the main goals. Municipalities, nonprofit organizations, and educational institutions may apply individually. They can also partner with local services boards, organizations, and the private sector. Qualified applicants will be given 50% funding for eligible costs up to $1 million.

The Ontario Trillium Foundation

The Ontario Trillium Foundation has been serving communities across Ontario for 30 years. They offer grants for nonprofits enabling municipalities to overcome critical barriers to development. Under the program, qualified NFPs stand to receive $5,000 to $500,000 worth of government funding. They can use this fund to complete various community-building projects.

The Rural Alberta Development Fund

This organization aims to strengthen Alberta’s rural communities and organizations. To this end, it helps municipalities create and implement plans for economic development in rural areas. Qualified projects must focus on four core principles. These are economic growth, community capacity, quality of life, and development of skill and learning.

Ontario’s Wood Promotion Programs

The government has many programs that support the forestry sector in Ontario. It includes promoting new practices or investment in the forest sector. It also encourages the mindful consumption of wood in the area.

Projects that help businesses in the main forest industry are eligible to apply. These are the makers of lumber, pulp, and paper. Lower-level businesses that make paper bags, cardboard boxes, or furniture are also qualified.

These programs also support efforts in increasing the need for forest products in Ontario. It includes spreading awareness about local wood products, promoting wood culture, helping businesses enter or expand into new markets, and attracting investments in Ontario’s forestry industry.

The Northern Community Capacity Building Program

This program helps communities promote and support economic growth in Northern Ontario. It applies to existing and new sectors.
Accepted projects will get funds worth 75% of related costs up to $50,000. Regional projects will get funds for 75% of associated costs up to $100,000.

Municipalities and nonprofit organizations may apply alone. They could also pair with the private sector, the federal government, and other agencies.

Start Exploring Your Funding Opportunities Now

Is your NFP struggling in applying for grants? Let EVAMAX help you secure and identify funding your group sorely needs. EVAMAX specializes in helping businesses and nonprofit organizations gain access to funding. We can help you raise money so you can focus on helping the communities in Ontario and across Canada.

The options above are just some of the many funding sources that government agencies in Canada offer. There are many others that EVAMAX can help you with. We can help you identify which program gives you the highest chance of success. We can also help you throughout the application process.

Call us today to find the grant that suits your unique objectives.

Ontario’s economy is shifting to the global stage. This puts its rural areas in a challenging position. Local municipalities must now create an environment where many businesses could flourish. This is important as a diverse and robust economy helps them compete against urban areas in Canada and beyond.

And yet, the situation raises some questions. Is the infrastructure in rural Ontario strong enough for the changing times? Do they have the workforce and skills to sustain a more advanced economy?

Rural Ontario has specific needs that could vary from one community to another. For instance, one place may need better roads. Another could use an internet connection with high speed. Others may have an aging labor force and would benefit more from the addition of younger workers.

It would seem that there is no blanket solution to a challenge this diverse. Still, Ontario’s Rural Economic Development or RED program comes close. The RED program offers a flexible approach to economic development in rural Ontario.

What is the Rural Economic Development Program?

The RED program is a cost-sharing grant. It is designed to promote growth and development in Canada’s rural communities. It is tailor-made to meet the distinctive needs of Canadians living in remote areas.

This rural economic program can be accessed in two ways. One is the Economic Diversification and Competitiveness Stream. The other is the Strategic Economic Infrastructure Stream.

Stream 1 – EDCS

The presence of various economic sectors is vital for rural Ontario to be competitive. It is a sign that the communities are healthy enough for businesses to thrive. This, in turn, will attract more investors and skilled workers, turning into a productive economic cycle. This is the ideal scenario that the RED program is aiming for.

  • Entrepreneurship or Business Succession

Projects that support business start-ups and succession are eligible for the program. This includes coaching, mentorship, tours, introduction to retiring business owners, and similar activities.

  • Growing and Retaining the Business

Support is given to local and regional business owners to promote economic growth. This will create jobs and encourage workers and their families to stay within the communities.

  • Upkeep of Downtown Areas

Projects involved in creating and implementing development plans for traditional town centers in rural communities are entitled to financial support through the RED program.

  • Bringing in and Keeping Young Workers and Immigrants

The Rural Economic Development program supports employee-pooling, improvement of work conditions, and destination marketing. These and similar activities are designed to attract and retain people to rural communities.

  • Using Technology and Innovation to the Fullest

Digital capability and IT are essential for businesses to thrive in an advanced economy. The RED offers financial support for digital training and connectivity improvement. These are projects that help companies use technology to the fullest

Stream 2 – SEIS

This economic development program stream supports projects that promote economic development and investment in Ontario’s rural communities.

  • Saving Cultural, Heritage, and Tourist Spots

Projects involved in repairing historic buildings, tourist spots, and other attractions are eligible. These projects generate interest from investors.

  • The Repair of Community Streets and Landscapes

This RED stream supports minor capital projects that improve rural Ontario’s common areas. This includes repairing road signs, improving landscapes, and putting up Wi-Fi in public places.

  • The Repair of Vacant and Seldom-Used Buildings

Abandoned and rarely used buildings can hurt a community’s ability to attract investments. The RED program’s SEI stream is committed to supporting redevelopment projects. This includes efforts to revive vacant or seldom-used facilities.

Municipalities and groups with projects that qualify for the RED program will get funds. This fund can be used for project management. This includes fees for legal, engineering, accounting, and other professional services. The program also offers funds that can be used as minor capital. Buying of project-related software, training, and additional project-related costs are also eligible.

RED Program Funding Details

Applicants who wish to apply for the Rural Economic Development Fund must identify a preferred program stream. The EDC stream offers a provincial fund to cover 50% of eligible project costs, up to a maximum of $150,000. The SEI stream can cover 30% of qualified expenses up to a maximum of $250,000.

The computation of the cost-share funding would depend on the total amount of eligible costs as written in the application. Qualified applicants must sign a contribution agreement with the Government of Ontario. They must also accept joint responsibility for funded projects.

Projects that are already getting other provincial funds are not eligible for the RED program. However, additional grant funding from the federal government is allowed. The combined government funding must be not more than 90% of the total eligible costs.

Projects lasting several years are allowed. Their costs must be claimed each year and the total computed. The project must also demonstrate its positive impact on the community’s economy within the first year of implementation.

All projects approved under the Rural Economic Development program must be completed. The timing is indicated in the contribution agreement.

Who Are Eligible for the Grant?

Municipalities, nonprofits, local organizations, and local services boards with projects aligned to the RED program’s goals are eligible to apply for funding.

Interested parties must apply at the ontario.ca/REDprogram. They must also ask the authority to enter a contribution agreement. They must comply with the contribution agreement after the project is approved and join in any audits that may come after.

The RED program prefers projects with several applicants. They will identify a lead applicant, but the other applicants would still be responsible for the project. The lead applicant and co-applicants must all enter into the contribution agreement.

The Ontario Government is always looking for new ways to improve its rural communities’ quality of life.

If you want to learn about the RED program and other Ontario Government grant opportunities, call us now at EVAMAX.

 

Have you been sitting on a brilliant business idea but do not have the resources to follow through? Gaining access to the right self-employment benefit program can send you on your way to being self-employed sooner than you think.

In any case, employment security is not at its strongest with the ongoing global pandemic. Starting on your own with the right business plan could be a more viable option at this point. There are several self-employment grants Ontario residents like you could take advantage of. Although some of them can be very specific, it is best to know what opportunities are available by familiarizing yourself with some of them.

The Starter Company Program

Through this program, you can get up to $5,000 worth of financial assistance, which you can use to start a new business, buy an existing company, or expand your current business in Canada. It can also help expand your knowledge about the business you are in by giving you access to one-on-one advice, assigning a mentor to guide you, or holding workshops and seminars on a wide range of topics.

The Starter Company Plus is open to budding entrepreneurs who are 18 to 29 years old, hold Canadian citizenship, permanent residents of Ontario, and currently not attending full-time school. If you qualify, you will be asked to contribute 25% of the total grant.

The Business Acceleration Program

This Ontario self-employment program is designed to stimulate growth, development, and innovation in Ontario’s local industries. It draws funding from the Ontario Ministry of Research and Innovation.

Under this grant is the Youth Business Acceleration Program, which is open to young entrepreneurs aged 18 to 29. It offers to arm young individuals with the tools and skills needed to start and successfully run a business in the technology sector.

On top of financial support worth $5,000 to $20,000, qualified individuals will be given access to a business support network and a wealth of valuable market intelligence, putting them in the best position to succeed.

The Northern Business Opportunity Program – Small Business Startup Projects

This program aims to help aspiring entrepreneurs start a new business in northern Ontario, focusing on emerging sectors prioritized by the Northern Ontario Heritage Fund Corporation. Qualified businesses will receive a grant amounting to 50% of all eligible costs with a limit of $200,000 in conditional contributions. This fund can be used to improve leaseholds, integrate old or new equipment, obtain third-party training programs, or for marketing activities.

The Eastern Ontario Development Fund

Entrepreneurs in eastern Ontario who want to expand or bring in more businesses to their communities can apply for the Eastern Ontario Development Fund. Qualified businesses will be given funds amounting to 15% of all eligible costs. Companies in rural Ontario with less than 500 employees are allowed up to $500,000 in grant funds, while foreign direct investments have a limit of $1.5 million.

The program also offers loans to cover 15% of eligible costs to a maximum of $5 million. If the qualified business meets its investment and employment targets, up to 30% of the business loan (not exceeding $500,000) may be forgiven.

The Ontario Works Self Employment Benefit Program

Ontario Works is the ideal self-employment program Ontario entrepreneurs should apply for. Through this program, qualified individuals will receive assistance in creating a sound business plan. They will also be given access to useful resources such as business contacts and 60 weeks of ongoing support, everything that an up-and-coming entrepreneur needs to start and grow a business.

The Employment Insurance Program – Special Benefits

The EI special benefits are accessible to self-employed people who own a business or control more than 40% of a corporation’s voting shares. It offers financial support amounting to 55% of your total earnings up to a maximum of $573 per week.
This stream of the EI program is intended for qualified individuals who are away on maternity leave, caring for a newborn, could not attend to business activities due to medical reasons, or caring for a critically injured or ill person.

Employed people should apply for the regular benefits as the EI special benefits are targeted at the self-employed.

Microlending for Women in Ontario Program

This program is committed to supporting women with low income who want to start a business instead. The support initially comes in the form of financial literacy training, business mentoring, and skills development. Once they are deemed business-ready, they qualify for small business loans, which can be used for a start-up.

The SmartStart Seed Fund

This program is designed to support startup businesses in Ontario’s technology and innovation sectors, including those with links to a university or college in the area. Eligible businesses will be given up to $30,000 in funding for early-stage development, provided that they find at least one other source willing to give them the same amount. Qualified businesses with no matching fund are still entitled to $5,000 in financial assistance, which can be used on skills training and support activities such as peer networks, mentoring, and other business learning opportunities.

Business Incubators Across Canada

Canada has several organizations and programs that target companies still in their infancy. With a comprehensive support system, these business incubators help ensure that start-ups survive the common pitfalls that contribute to a business’s failure.
Support from business incubators may include start-up funding, introduction to an investor, technical resources, mentorship, or anything that may help a young entrepreneur get established. On top of all the peripheral benefits, incubators can help reduce the cost of starting a small business and operating it successfully by 40% to 50%.

Find the Best Option for You

Ontario has many programs and grants that can help small and medium businesses, and some of them are geared specifically for entrepreneurs and young start-ups. If you have plans of becoming self-employed, one of these grants could be your ticket to success.

However, each self-employment benefit program can be very specific. You would need all the information you can get to boost your chances of qualifying. This is where we can help.

To learn more about your options and how to best qualify, contact us now at EVAMAX.