More than SR&ED

More than SR&ED (Scientific Research & Experimental Development)

- Leveraging Government Funding Programs

You are most likely taking advantage of the Scientific Research & Experimental Development (SR&ED) tax credit program, but what about the other 100+ programs available to Canadian corporations? Your company could be missing out substantial revenue or tax break options.

In the 2012 Federal budget, changes were announced to increase the amount of funding provided to direct funding programs such as the Industrial Research Assistance Program (IRAP). The move to increase the budgets of direct government funding programs allows the government to channel funds to areas more specific to their mandates. For example, the transfer of funds from the SR&ED program to the IRAP program fulfills the government’s aim to increase corporations focus on the commercialization of technology.

Why is this important to your business?

For starters, less money is being applied to SR&ED, so companies are adapting to reduce risk by changing a focus to additional programs. Secondly, these direct funding programs are designed to accomplish funding activities NOT eligible under the SR&ED program. There are some great programs for you to take advantage of.

Two key government focus areas for funding is job growth and export generation. CME SMART and Yves Landry Export Market Access programs have requirements for job creation/protection and export growth. In applying to these programs, it is important to consider stakeholder analysis, an exercise of studying the key focus areas that the program administration is looking for when they review applications. If your company is in search of funding, you need to meet the requirements of the stakeholders.

The landscape of government funding programs has dramatically changed, making it difficult to access pertinent information to understand what your company may be eligible for. TSI helps innovative companies who wish to take advantage of government funding programs to fuel growth. It’s what we get excited about.

Attached below is a link to our FREE funding e-Book, a resource you can use to identify potential programs that may work for you. If you require assistance, we would be happy to support you and your company.