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:
- 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.
- 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.
- 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.
- 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:
- Technology Project Overview
- Management Team & Company Skillset
- Financial Capability
- Business and Market
- Economic Impact
- 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.