Do you have a groundbreaking business idea that you are hesitant to pursue due to cost considerations? Have you heard about the Canadian Government’s Scientific Research and Experimental Development program or SR&ED?
If you want to take your company in a new direction but waver at the thought of its corresponding costs, then it is time you learned about the SR&ED program or SRED program Canada.

What is the Canada SR&ED Grant?

If your business is engaged in a science or technology-related industry, then you understand how difficult it is to innovate. Coming up with a groundbreaking idea is a challenge in and of itself. Developing it for practical use is even harder. Still, it is a challenge that has to be met if industries are to be sustainably beneficial to target consumers.

This is where the Canada Revenue Agency’s Scientific Research and Experimental Development program comes in.

The SR&ED is a tax incentive program created to encourage technological advancement in medium and small businesses as well as startups. Its end goal is to help companies develop new processes, devices, materials, or products of any form that can improve the consumers’ quality of life.
The SR&ED offers innovative businesses much needed support in the form of SRED funding, rebates, or SRED tax credits. Every year, the program processes over 20,000 SR&ED claims amounting to over $3 billion in tax incentives.

What Projects Qualify for the Program?

The government’s SR&ED program is open to Canadian businesses of all sectors. However, it is important to find out first if your potential project is eligible for the SRED tax credit. Below are the three qualifying criteria:

  • Basic Research

This is a type of project designed purely for the advancement of scientific knowledge with no immediate or intended practical application. It is normally carried in a laboratory and under a controlled environment. Once done, the results are published in scientific journals for others in the innovation community to evaluate, verify, or build on.

  • Applied Research

This is a type of research design intended to solve a specific problem or lead to an innovative solution with the end goal of a practical application for economic growth. Like basic research, its results can also be published in scientific journals.

  • Experimental Development

This type of project aims to achieve technological advancement in the form of new material, process, or consumer product, or the improvement of an existing one.

Your project would also be eligible for SR&ED if it supports a taxpayer’s work that meets the above criteria. However, it is important to note that there are exclusions that would say a task does not qualify. As a general rule, a type of work that leads to technological advancement, solves a scientific uncertainty or involves a detailed and systematic investigation by trained people qualifies for the SR&ED.

How Can Your Business Benefit from SRED Credits?

As virtually any business can avail of the SR&ED, the tax incentive program attracts all types of companies. The benefit comes in three ways: as an investment tax credit or ITC, as income tax reduction, or as a direct refund. However, the amounts may vary from one type of business to another:

  • Canadian controlled private corporations

A private corporation that has been operating in Canada since 1971 and is not controlled by non-resident individuals nor lists its shares outside of the country is considered a Canadian controlled private corporation. This type of company stands to earn a refundable ITC of 35% on SR&ED-eligible projects worth $3 million. If aside from being a CCPC, the company also meets the criteria for being a qualifying corporation, a refundable ITC of 15% for over $3 million is added, and 40% of the ITC can be reimbursed.

  • Other corporations

Corporations that do not fall under the definition of the CCPC can also benefit from the SR&ED should their project qualify. This can be in the form of a non-refundable ITC amounting to 15% of the total expenditures, resulting in a reduction of the payable tax.

  • Individuals and trusts

Proprietorships and trusts can also apply for the SR&ED program. If their projects meet the criteria, they stand to earn a refundable ITC with a rate of 15% of the project spending. Once the ITC is applied against the tax payable, the CRA can proceed to refund 40% of the ITCs that have been earned for the year but not yet claimed.

  • Members of a partnership

A partnership is not a taxpayer and could not earn an ITC directly. If you have plans of claiming a SRED claim for a partnership, the ITC would indeed be computed at the partnership level. Then it will be allocated to qualified members such as individuals, corporations, or trusts.

Find Out More About the SRED Program

The concept of the SR&ED tax credit can be confusing, especially if it is your first time hearing about it. To find out more about this incentive program, how you can benefit from it, or to complete your form T661, contact us today at EVAMAX.

Did you know Canada has several small business funding options for you? The options come as Canada business grants and loans. Canada business grants are applicable to all types of businesses in the country regardless of industry.

The Canadian government has several options for you to find funding for your business. Find the right Canada business grant for you! Whether you are starting a new business or looking for small business fundingto grow your business, there are Canada business grants for you.

Here are our top 5 programs you can apply for.

Canada business grant: CanExport for Businesses (SMEs)

The CanExport Canada business 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

What is the eligibility criteria?

  • 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

Canada business grant for Strategic Innovation Fund

This Canada business grants, and loans 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 Canada business grantSIF 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

 

Canada Job Grant (CJG)

The Canada Ontario Job Grant is a hiring and training Canada business grant program. ThisCanada business grant offers direct financial support for employers who wish to further train their employees. It is applicable to small, medium, and large businesses that 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

 

 

Scientific Research & Experimental Development Tax Credits

SR&ED Tax Credits are a form of Canada business grants and loans offered to businesses of all sizes participating in any form of scientific research and experimental development in their projects. This Canada business grant is awarded to businesses in the form of tax credits or cash refunds.

Who is eligible?

  • To qualify, the work including basic research, applied research and experimental development must be carried out within Canada
  • Basic research: carried out to advance scientific knowledge without a practical application in view, usually carried out in universities or research institutes
  • Applied research: this is similar to basic research but is done with a specific practical application in view
  • Experimental Development: work is carried out to achieve technological advancement and is also the most common SR&ED work

What can you claim?

  • Under SR&ED you can claim expenditures for the following:
    • Salary and wages
    • Materials
    • SR&ED Contracts
    • Overhead
    • Third-party payments
  • You can expect to receive a portion of your expenditures as credits ranging between 35% and 65% of your total cost

How can you apply?

  • You can apply for your SR&ED credits through your corporate taxes at the end of your fiscal year by completing Form 661

Contact us today at EVAMAX to find out how we can prepare your application for SR&ED and other business grants.

If your business carries research development and innovation projects, you could be missing out on innovation grants. These projects could include innovation efforts with research institutions, colleges or universities, to help develop processes or products as improved products.

The Canadian federal government, in partnership with provincial governments, offers a range of innovation grants for businesses.

Through the Innovation Fund Canada and the Innovation Center, many projects are financially supported.

Here are our top 2 picks for innovation grants Canada:

Industrial Research Assistance Program (IRAP)as an Innovation Grant

The IRAP program is Canadian government-funded and is designed to help accelerate the research and development projects within Canada. Businesses aiming for improved products are the target recipients’ for this grant. The National Research Council of Canada (NRC) administers and managed this program. As a federal program that provides funding to support innovation, businesses from all provinces are eligible to apply for this grant.

What does it cover?

  • The IRAP program has a funding contribution of up to 60%-80% of internal technical labour and subcontractor expenses
  • This means you could receive up to 80% of wages paid for your projects as a grant!

How can you apply?

  • To apply, you business will be assessed to determine eligibility based on the following criteria:
    • It is an incorporated, profit-oriented small or medium-sized business in Canada
    • It has 500 or fewer full-time employees
    • It plans to pursue growth and profit by developing and commercializing innovative products and services
  • If your business qualifies, you will need to submit a project proposal
  • For any additional questions read here and please contact EVAMAX

Scientific Research and Experimental Development Tax Credit

  • The SR&ED Tax Credit program aims to fund research and development projects for business following their completion
  • Tax incentives are awarded to businesses that perform R&D in either refundable or non-refundable ways

What does it cover?

  • The SR&ED program covers project expenditures including wages and salaries paid out for SR&ED work, material expenses and contractor and subcontractor expenses
  • Businesses can expect to receive up to 68% of qualified expenditures back in SR&ED credits in combined federal and provincial credits
  • Processing time for tax credits typically ranges between 4-6 months and the claim must be filed within 18 months of the company’s fiscal year-end

How can you Apply?

  • Companies can apply for the SR&ED credit by completing the T661 form as a part of their T2 Corporate Tax filing
  • EVAMAX specializes in SR&ED filings and have expert advice. Contact EVAMAX today for any additional questions regarding your SR&ED application

Tips on how to make the most out of your innovation grant applications:

Prepare your documents for innovation grants!

  • Most innovation funding grant applications require supporting documentation as a part of the application or project proposals
  • The key to making these effortless is to keep a good record of official project documentation as well as drafts
  • This can be achieved by maintaining an organized record-keeping practice
  • Invoices for expenses incurred during the project should also be preserved
    • They can help you recover costs after the completion of a project and also estimate future expenses

Maintain a good time log!

  • Most grant and tax credit programs cover wages and salaries expenses incurred for the duration of the innovation project
  • The easiest way for your business to claim the correct amount is by maintaining an active time log
  • This log should track and keep a record of all R&D and innovation related work and hours put in by each employee
  • You can then use these records for your grant applications and have the logs as evidence to support your claims

 

Follow up on your application!

  • The best way to ensure that you receive your innovation grants is to actively follow up on your applications
  • Although all programs have various timelines, be sure to remember the check points of your application
  • If you don’t hear back as expected, follow up and ensure that all required documentation is received

Good Luck!

aerial top view of business people group brainstorming on meeting and businessman presenting ideas and projects on laptop and tablet computer

Does your business conduct any research and development?

Could you use research funding for your projects?

Have you been looking for research and development grants in Canada?

Look no further. Here is a list of our top research and development funding options for Canadian small businesses.

Canadian Institutes of Health Research (CIHR)

Are you looking to innovate in the health care industry?

Given the current COVID-19 pandemic, the government is eagerly seeking to fund, and fuel applied researchin the health care industry. Canadian Institutes of Health Research along with multiple other Canadian health care and public health organizations are collaboratingto find solutions to COVID-19 pandemic posed problems. CIHR serves as the Government of Canada’s health research investment agency and supports excellence in all four pillars of health research: biomedical, clinical, health systems services and population health. The institute invests approximately $1 billion each year to support health care research and development in Canada. Research institutions partaking in applicable research can get a significant amount of grants funding.

  • In order to apply for this research and development grant, you must first create a ResearchNet account, a CIHR PIN and a Canadian Common CV (CCV) Account.
  • Then, you must complete an application on ResearchNet following the listed steps in the process
  • These steps may include finding the funding opportunity you wish to apply for, logging in, reviewing opportunity details, and completing all required tasks in ResearchNet
  • You will then wait for you Notification of Decision that will be followed by a peer review of an opportunity through ResearchNet
  • To read more about other resources for health care innovation related to the COVID-19 pandemic, please click here
  • For any additional questions, please contact EVAMAX here

Mitacs funding for research and development

Are you looking to hire experts in your field?

The Mitacs program offers a variety of funding options to encourage Canadian companies collaborate with and hire postdoctoral fellows and graduate students for research projects in their field of study. The Mitacs Elevate program consists of a research grants for a recent PhD graduate.

  • Companies and graduates can collaborate on research projects and Mitacs funds up to 50% of the graduate’s salary for a one-year contract
  • The Mitacs Accelerate program is for a four-month internship for a research position
  • The research project receives $15,000 in direct funding with the industry partner and Mitacs each providing $7,500

Industrial Research Assistance Program (IRAP) for research and development

Are you looking for funding to accelerate your current project?

IRAP is a program funded by thefederal governmentdesigned to accelerate the research projects within Canada. Business striving for process improvements are the target recipients for this grant. The program administered and managed by the National Research Council of Canada is open to businesses from all provinces.

  • It covers between 60% and 80% of all internal labour expenses as well as subcontractor expenses
  • This means your business could receive up to 80% of wages paid for all your projects as a grant!
  • You can determine your eligibility based on the following:
  • If your business is an incorporated, profit oriented small or medium-sized business in Canada
  • If your business has 500 or fewer full-time employees
  • It plans to pursue growth and profit by developing and commercializing innovative products and services
  • You can apply for this research and development grant by submitting your project proposal to the IRAP authorities
  • For any additional questions regarding IRAP applications, please contact EVAMAX here

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

Are you looking for tax credits for your completed R&D work?

The SR&ED Tax Credit program offers research and development tax credits to businesses for their innovation projects. SR&ED Tax incentivesare awarded to business performing scientific research and or experimental development as a part of their business projects. The SR&ED program covers project expenditures including wages and salaries paid out for SR&ED work, material expenses and contractor and subcontractor expenses. The program is managed by Canada Revenue Agency.

  • Businesses can expect to receive up to 68% of qualified expenditures back in SR&ED Credits in combined federal and provincial credits
  • Your business can apply by completing the T661 form as a part of your business’ T2 Corporate Tax filing
  • EVAMAX specializes in SR&ED filings and have expert advice
  • Please click here for any additional questions regarding SR&ED or any previously mentioned grants and funding programs

EVAMAX is an expert and is ready to help you find the funding best suited for your business! Contact us today.

The Canadian Government in partnership with the National Research Council has curated the Industrial Research Assistance Program. The NRC Industrial Research Assistance Program provides innovation assistance to small and medium sized businesses.

The NRC grants help build a business’ innovation capacity and take ideas their ideas to market. This program helps through financial assistanceas well as advisory services and connections to expertise in Canada.

This effort has been helping Canadian businesses grow for over 70 years.

The NRC Industrial Research Assistance Programaims to stimulate wealth creation for Canada through fostering innovation.

What is NRC IRAP?

The NRC funding program is known as Canada’s best funding programs. The NRC IRAP program offers non-repayable financial assistance that covers over 80% of salaries and 50% of contractor costs.

The IRAP program is divided into four major programs:

  1. Small Technology Innovation Projects or Accelerated Review Process
  • This program provides grants up to $50k and helps businesses fund research and development and commercialization technology projects.
  1. Mid-sized Technology Innovation Projects
  • This subprogram of the NRC IRAP provides larger grants amounting up to $10 million that are also focused on research and development, the development of new innovative products and creating original software.
  1. Youth Employment Strategy Programs
  • This subprogram offers grants of up to $30,000 between the ages of 15-30 for a 12-month work placement.
  • Businesses can apply for up to two candidates, but candidates must not be an employee at the time of application.

 

  1. Innovation Assistance Program
  • The most recently announced subprogram of IRAP is the Innovation Assistance Program or the IAP.
  • Businesses that were unable to apply for the Canada Emergency Wage Subsidy Program can now apply for a wage subsidy for up to 12 weeks through the IRAP IAP Program
  • This program is not affiliated with any IRAP funding programs and is simply intended to help companies keep people employed.
  • The amount of funding is heavily dependent on the number of skilled personnel on the payroll

Who is eligible for NRC Grants?

In order to be considered for IRAP funding, your business must:

  • Be a Canadian SME, incorporated and profit-oriented
  • Have 500 or less full-time employees
  • The business applying for IRAP must have the objective to grow and generate profits through the development and commercialization of innovative, technology-driven new or improved products, services, or processes in Canada.

How can you apply for NRC Funding?

  • In order to apply for IRAP, you must first contact your local IRAP ITA.
  • You can call them at 1-877-994-4727
  • The ITAs will help you understand all 7 areas of your IRAP application:
  1. Technology Project Overview
  2. Management Team & Company Skillset
  3. Financial Capability
  4. Business and Market
  5. Economic Impact
  6. High-level project plan and timeline

Although there is no deadline for your IRAP application, it is best to contact your local ITA before April 1 as your project must be carried out in the same fiscal year from April 1 to March 31 of the following year.

Please contact EVAMAX regarding any further questions about IRAP.

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.