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.

sred four part testCanada Revenue Agency, in partnership with the Canadian Government, has been working meticulously to award companies participating in Scientific Research and Experimental Development for the promotion of national innovation in Canada. This practice dates back as early as 1944, when companies could deduct 100% of their scientific research expenditures from their taxable income. Since then, through several revaluations, Canada has optimized its SR&ED credit calculation and program to ensure businesses are getting the maximum possible return for their R&D efforts. 

The SR&ED credit program provides companies and businesses the freedom to conduct research while minimizing the company’s liabilities for the research. This credit is equivalent to a portion of the R&D tax credit qualified activities a business incurs related to the specific research project at hand. These qualified expenses are more inclusive than popular belief including the likes of employee and supervisor salaries for those involved in the project, a significant amount of supplies and materials used as well as any contracted or third-party expenditure incurred in the process. 

For example, the food industry could have several projects that involve basic research, applied research or experimental development. Any of these projects including scientific or technological advancement, uncertainty or content could be applicable to this program. Other efforts such as new product, packages or development processes, technical procedures as well as improvement could also qualify for such project. Hence, this credit is not limited to any specific industry or sector if it simply abides by the following four-part test. 

A business can conduct a simple four-part test to determine their qualified R&D activity. This eligibility is in fact heavily dependent on the research and project itself. 

This four-part test can help you determine if your project qualifies for the SR&ED program: 

  1. Elimination of Uncertainty: The project must be in attempt to eliminate uncertainty about the development or improvement a product or process and cannot be a change for aesthetics solely. 
  2. Process of Experimentation: Experimentation is critical as it must be demonstrated that the alternatives have been evaluated and tested for through either modeling, simulation or systematic trial and error or through other avenues. 
  3. Technological in Nature: The research qualified for this credit program must also lie within the hard sciences, including engineering, physics, chemistry, biology or computer sciences. In other words, no matter what the end use or purpose of this research, the process and method which is being researched must be scientifically backed. 
  4. Qualified Purpose: The end goal and purpose for this project must be to improve a specific product or process resulting in higher efficiency of performance, function, reliability and or quality. 

Some qualified activities may include: 

–       Developing prototypes of new equipment or experimenting with now improved equipment 

–       Patent applications 

–       Additive equipment to improve processes 

–       Streamlining of manufacturing processes 

–       Development of software or enhancements on existing technological aids 

–       Enhancements to processes to support green initiatives and make businesses more environmentally friendly 

–       HVAC concept and design 

–       Testing of new concepts and technology 

This program provides incentives for Canadian businesses to expand their capacity and production while also contributing to the Canadian economy at minimal direct expense. The SR&ED program alone also accounts for the single largest federal government support for industrial research and development encompassing over $3 million worth of expenditures claimed. 

EVAMAX specializes in consulting firms for their SR&ED projects, preparing their SR&ED applications and follow up process right through to the credit reimbursement. Contact EVAMAX today to find out how you can take your business to the next level through the SR&ED tax credit program. 

myths vs facts sred

If your company’s core focus involves R&D work, your expenditures are probably soaring high. The continuous process of testing against ever changing performance indicators and enhancing your product involves stable financial sourcing. Before you release your product to the market and gain capital returns, consistent product enhancement and development remains critical. In order to encourage these projects, the Canadian Government has already invested in your company and brand by providing one of the most generous R&D cash refund/tax incentive programs in the world. The program provides more than $3 billion in tax incentives to over 20,000 claimants each year. 

This massive tax incentive program is known as the Scientific Research and Experimental Development program. It’s also known as SR&ED, some call it ‘shred’ and others call it R&D Tax Credit, Research Tax Credit, Research & Experimentation Tax Credit, Investment Tax Credit and R&D Funding. Be sure to not get lost in the names!  

When combined with other provincial program, your business may recover up to 68% of the qualified cost. It’s surprising but doable, and at EVAMAX we’ve seen it happen. These tax incentives come in 3 forms: 

  1. Reduction of taxes 
  2. Investment Tax Credit 
  3. Cash Refund  

These 3 types of research methods are qualified under the SR&ED program: 

  1. Basic Research: Work done to advance scientific knowledge without any practical application in mind 
  2. Applied Research: Work done to advance knowledge specifically for a practical purpose
  3. Experimental development: Work done to achieve a technological advancement to create new or improved existing products, processes 

The SR&ED program’s success rates are perceived as too good to be true, resulting in these common misconceptions:  

  • The SR&ED high tech sector and for highly intensive and critical R&D only – so I can’t claim any benefit  
  • It only has benefits for larger corporations and not small businesses  
  • Your R&D work was not successful  
  • You don’t pay taxes, how can I get a credit  
  • Your I don’t have time for all paperwork 

 Here are those misconceptions debunked with facts about the SR&ED Program: 

  • Any industry can get the benefit of SR&ED program if there has been an attempt for a technological improvement/advancement.  
  • These benefits include not only the research cost but also wages, capital expenditures and overheads 
  • The more incentives for small companies then larger corporation  
  • Your company can get a refund even if the experimentation failed  
  • You can receive a refund even if you have not paid taxes or declared loss 
  • It is about the expenditures, not about the sales you make  
  • The program is more technical than financial  

Want to know if you qualify? If you are a Proprietorship, a Partnership, or a Corporation having a business in Canada then you are likely to quality for the SR&ED program. 

Here are some unexpected activities that qualify for SR&ED: 

    • Enhancements, efficiency issues, new product development  
    • Methods to make products cheaper/faster/better/durable 
    • New formulations, new designs, innovations 
    • Risk, uncertainty, unproductive time or material
    • Material changes, inconsistent product or quality issues
    • Reduction in labour and resources needed  
    • Integration issues, new algorithms, software structures and tool  

If you are looking for assistance in creating your company’s submission, contact us to help you through the process. At EVAMAX, our team believes in maximizing our clients benefits to the fullest potential. Our approach does not use a “one formula fits all” policy, we assign industry specialists to work with you, ensuring successful identification of eligible projects and costs. Feel free to reach out to us today, for a no obligation consultation

augmented realityAugmented reality is technology that blends digital information technology, ie: sound, video, graphics and direct sensory experiences in real world surroundings and objects.  

Its like the Pokemon Go App! connected with real world information and presents an interactive world of Pokemons appearing on your sidewalk.  

This interactive form of technology is playing an increasingly critical role in healthcare. As medical professionals are constantly working to meet rising demands in healthcare services and keep up with health advancements and outbreaks. Healthcare is utilizing augmented reality hardware to treat various medical conditions, particularly neuropsychological conditions. Applications and protypes are available or in the development stage to improve conditions of autism, post-traumatic stress disorder (PTSD), depression, phobias, addiction, stress and rehabilitation. 

The AR market was worth $4B in 2018 but the falling costs of AR hardware as well as its growing value in healthcare will significantly increase its worth in the following years.  GlobalData’s ‘Virtual/ Augmented Reality in Healthcare’ forecasts a compound annual growth rate at 13%, resulting in a market value of $76B by 2030. 

Here are five ways AR is transforming the face of healthcare to provide solutions to medical challenges:  

  1. Improving access: AR directly improves the concepts of medical consultations over distances . It also guaranteeing the quality of consultations. Even in the field of surgery, AR not only assists medical professional with diagnostics but surgical procedures. Take the app Proxime, it allows complete surgical procedures to be carried out over distance, by a specialist using AR tools to guide with a colleague in real time. This increases access to surgery as medical expertise can reach more patients.  
  2. Boosting TrainingMedical professional have more accessibility and opportunity to train more and faster. AR applications such as 3D visualizations, that bring anatomical learning to life and aid nurses in master techniques to check for vital signs. A great benefit of AR as a learning toll is its highly engaging and immersive nature.  
  3. Keeping up with tech: Innovative technologies with promising health benefits are being introduced to the healthcare provision everyday. The challenge lies within adopting a product or service from its development phase and implementing it in daily medical practice. The reasons for this delay involve costs related to purchase, time for awareness, integration to systems as well as training staff. AR can fasten this process by providing remote training and product demonstrations.  
  4. Aiding Practice: AR can help healthcare practitioners with Day to Day tasks for higher accuracy and efficiencyAccuVein, an AR application helps practitioners locate veins for cannulation. Future uses of AR may include electronic medical records being automatically displayed on a device as a doctor examines consults with patients. This can also highlight immediacy that AR can bring to medical attention. 
  5. Empowering Patients: With the use of AR in healthcare, patients can have a proactive role in their own care. The EyeDecide app, for example, is on the one hand another example of a 3D anatomical visualization tool, this time demonstrating the structure of the eyeball. The app offers visual simulations of different eye conditions. Users can match simulations to any distortion they are experiencing in their own vision and the app offers a list of suggested eye specialists in their area If your business is a part of the medical equipment manufacturing industry – investing in AR Research and Development and planning its integration into your products and services is advantageous. 

If you’re looking to incorporate AR into your product line and require financial sourcing, there are numerous funding opportunities available.  

  • Industrial Research Assistance Program (IRAP), supportsmall and medium-sized enterprises with their technology innovation advances.  
  • Superclusters 
    • British Columbia: Digital Technology  
    • Quebec: Scale Artificial Intelligence   

Do you want to know all the Innovation Grants and Incentives that your company is eligible for? Contact EVAMAX today for a no-obligation consultation.

 

research and developmentAmidst the recent COVID-19 outbreak, Canada along with its government and health care sector has been working hard to fuel dedicated research to help combat this pandemic.  

In addition, the government has also been consulting with experts and researchers globally using all resources available to come up with a feasible solution to this problem 

Canada’s health minister announced another $25.8 million of funding in addition to the previous $26.8 million pledged by Prime Minister Trudeau to increase Canada’s research and development capacity including treatment and vaccine development. This additional funding has allowed for the capacity of COVID-19 research projects to double bringing the total up to 96 projects.   

“The outbreak of COVID-19 evolves quickly and protecting the health of Canadians is our priority. The additional teams of researchers receiving funding today will help Canada quickly generate the evidence we need to contribute to the global understanding of the COVID-19 illness. Their essential work will contribute to the development of effective vaccines, diagnostics, treatments, and public health responses.” – The Honourable Patty Hajdu, Minister of Health 

It is the extensive effort of the Canadian health care system, businesses and institutions paired with these innovation grants that have worked to deliver six vaccine projects across the country in partnership with institutions such as Laval University who is working on reverse engineering a vaccine following their success with Zika and MERS viruses while the University of Alberta is working on a DNA based vaccine just to name a few efforts.

 Canadian businesses across the country are also making their personal contributions in this fight against COVID-19 supporting federal efforts. The University of Waterloo has shifted the focus of its Multi-Scale Additive Manufacturing Laboratory to produce face shields for health care workers on the front line. Several manufacturing firms are focusing on producing more protective equipment for medical professionals in need in hospitals nationally and the government is supporting this effort with specialized grants. In Vancouver, a biotech named AbCellera, is working on identifying a vaccine based on antibodies found in patients who have already recovered from COVID-19 and have been successful in identifying over 500 antibodies as candidates. Medicago, a Quebec based therapeutic is already in its pre-trial phase with a natural plant-based vaccine for COVID-19. Larger organizations such as the National Research Council of Canada and others such as University of Saskatchewan’s Vaccine and Infectious Disease Organization are amongst a few who have received additional funding to further research this disease that has taken the world by storm.  

 Through readily accessible funds, resources and incentive programs, Canada is working to maximize mobilization efforts in this fight against COVID-19 with its focus on health care innovation.  

This research and development funding comes in addition to R&D money already granted by the Government of Canada through their Scientific Research and Experimental Development Credit program.  

The SR&ED credit incentivizes research and development in Canada and is awarded in one of three forms: an income tax deduction, an investment tax credit or a refund.  This program provides over $3 billion in funding to over 20,000 claimants to cohesively be the single largest federal business R&D supporting incentive.  

Based on a business’s SR&ED eligibility, a large portion of expenses incurred are reimbursed by the government through this program allowing institutions and businesses to continue their effort with minimal personal cost. Such federal efforts in challenging times like this prove to be crucial to the fight against a virus such as COVID-19.  

EVAMAX specializes in helping companies maximize their potential for the same research and development funding through the federal government. Contact EVAMAX today to make your ground-breaking and innovative contribution to the global fight against COVID-19 and learn more about government grants applicable to you and your business.  

Program Overview

– Alberta Innovates believes in the benefits of developing and commercializing new technology and knowledge-based products to Alberta’s global competitiveness.

– The Alberta Innovates has two voucher programs (Voucher Program and Micro-voucher Program) to support technology development and help small to medium-sized businesses reduce time to market and improve their competitiveness.

– These programs help subsidize the costs of service providers for the development of technologies in the mid-to-late developmental stages.

– Funding of up to $100,000 can be received to cover the costs of the following activities:

Innovation grant

Company Eligibility

– Be a for-profit SME (fewer than 500 full time employees, less than $50M annual gross revenue).

– Demonstrate the relationship between the Applicant and the Service Provider does not create a conflict of interest.

– Have a physical presence in the province of Alberta.

– Be a legal entity:

  • Incorporated in Alberta, or
  • Incorporated federally AND extra provincially registered in Alberta, or
  • A general partnership, limited partnership or limited liability partnership AND registered in Alberta

– Be in good financial standing with Alberta Innovates and its subsidiaries (i.e. InnoTech Alberta, C-Fer Technologies)

Service Provider Eligibility

– At arm’s length from the applicant

– Provides services/products at reasonable market rates

– Be legally permitted to enter, remain in, and perform services in Canada during the project term

– Be in good financial standing with Alberta Innovates and its subsidiaries

Project Eligibility

Voucher Program

– Have clear, critical “go/no go” milestones

– Completed within the 2-year term

– Submit to other criteria that Alberta Innovates may develop periodically

Micro-Voucher Program

– Completed within the 12-month term

– Submit to other criteria that Alberta Innovates may develop periodically

Project activities include but are not limited to the following:

– New product research and development

– Leading-edge design, engineering and prototype development

– Advanced product testing and refinement

– Patent development

– Advanced market assessments

– Other technology development activities may be considered on a case by case basis

Eligible Expenses

– Labour costs for individuals identified to be performing the service for the provider

– Materials that can be specifically identified for use in the project

– Software critical to the project

– Capital assets critical to the project (on a case by case basis)

– Other costs pre-approved by Alberta Innovates

Funding

This program offers up to $10,000 for the Micro-Voucher program and up to $100,000 in funding for the Voucher program over the course of the project.

The Micro-Voucher Program funds one service provider while the Voucher Program funds up to three service providers, and Applicants are to contribute 25% of total eligible project costs.

Deadline

These programs have a continuous intake period.

For assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process.