2010-Q2 2010-Q1

Welcome to TSI's Q2 2010 newsletter, a quarterly publication distributed to our valued clients, strategic partners, and colleagues. Highlights of this issue include:

• Company News: Welcomes a new team member to its technical group.
• Upcoming Events: TSI is presenting on May 6 as part of the Business Advantage seminar series, designed for small and mid-sized businesses to develop and grow their competitive advantage.
• TSI is also providing an overview of the SR&ED program as part of a seminar session hosted by the Ontario Society of Professional Engineers on May 11. The session includes an overview of other government funding programs that may be able to benefit Ontario corporations.
• Funding Program Profile: We present a profile of the MITACS Accelerate funding program designed to co-fund research activities.
• Consultant Profiles: A short profile of one of our consultants to allow you to get to know our team better.
• Industry News: An overview of what's new for the SR&ED program and other funding programs.

Best regards,
Jason Schwandt, Vice President, Business Development

COMPANY NEWS

TSI is pleased to announce the addition of a new team member to our technical consulting team. Adrian Jack joins us with 12 years of mechanical engineering technology expertise. With a solid background in design, project management, and engineering management to assist in processing SR&ED claims at multinational food processing organizations, his experience will be an valued asset to TSI. We extend a warm welcome to Adrian.

UPCOMING EVENTS

Business Advantage seminar
On May 6, 2010, TSI is participating in an exciting full-day seminar presentation designed for small and mid-sized business owners who want to multiply their success. Entitled “Critical Success Factors for Small and Medium Enterprises”, the event brings together presenters representing a compelling mix of talents, including some of the country’s top tax accountants, insurance specialists, investment advisors, financing and government grant providers, lawyers, bankers, business valuators, media specialists, and IT consultants. The theme is to enable participants to discover the critical winning factors needed to give their businesses a competitive advantage.
Some of the topics being discussed include:

• How To Plan The Work And Work The Plan
• How To Determine How Much Financing You Really Need, And How To Deal With Lending Institutions
• Growing Your Business In a Challenging Economy
• How Government Business Grant And Tax Credit Programs Can Help Fund Your Corporate Initiatives
• Minimize The Tax You Pay
• How To Properly Value Your Business
• How To Successfully Transfer Your Business Or Keep It In The Family
• How To Prepare Your Business For Sale

Event details, seminar topics, speaker biographies, and registration information are available at www.busadvantage.ca, or contact TSI for more information.

OSPE: Funding Ontario's Innovative Future
On May 11, 2010, TSI will be one of the presenters at an event hosted by the Ontario Society of Professional Engineers. The theme of the session focuses on funding Ontario's innovative future, and provides an overview of several grant, tax credit programs including SR&ED, IRAP, MITACS Accelerate, and NSERC programs, as well as feedback and advice from companies who have taken advantage of government funding programs . Contact TSI for more information, or find additional information and registration information at the OSPE web site at:
www.careercentre.ospe.on.ca/ (click on the 'Upcoming Events' section in the bottom left corner of the screen).

FUNDING PROGRAM PROFILE: MITACS Accelerate

This quarter, we present a summarized profile of the MITACS Accelerate program. Please contact us for more information about this or other grant programs of interest.

Program name: MITACS Accelerate

Description:
• MITACS Accelerate is a national internship program which connects companies and other organizations with the vast research expertise in Canada’s universities from applied sciences, engineering, social sciences, business, life sciences and more.

Eligibility Requirements:
• Canadian companies who plan to conduct basic/applied research or development work and could utilize academic support (including, but not limited to, areas of engineering, biology, math, psychology, chemistry, and business)

Valuation:
• Provides $7,500 in matching funding per student for a 4-month internship period. Internship periods may extend to 8, 12, or 16 month periods depending on the project scope.

Submission requirements:
• 3-4 page application describing company background, nature of project, and skills required. The student and advisor prepare the formal application to MITACS.
Application Acceptance Criteria:
• Non-competitive. Acceptance is based on criteria of project being research or development based with complexity commensurate with post-graduate student challenges.

Comments:
• MITACS acts to connect the company with a qualified and interested student.
• The company-funded portion of the grant is eligible for SR&ED tax credits.
• The company portion of costs are due at the start of each 4-month internship period.
• A portion of the intern's time is spent at the company and a portion at the university.

CONSULTANT PROFILE

Each quarter, we'll provide a profile of one of our consultants. Because our clients deal with our consultants on a regular basis, we felt it would be helpful to share some details not only on the experience of our team, but also some of their personal interests and hobbies. In this edition, we'll be profiling Katrina Carpenter.

Katrina Carpenter is a member of both the Professional Engineers of Ontario (PEO) and the Project Management Institute (PMI), and holds a Bachelors of Science (Engineering) degree in Computer Systems. With over 12 years experience in various leadership roles in I/T product development, Katrina has actively managed and participated in hardware and software engineering teams ensuring business requirements and scope are achieved with quality compliance for EMI/EMC and ISO 9001 standards. Her extensive background in product development lifecycle management allows her to effectively assist clients in a wide range of I/T sectors including web development environments, network communication, software application development, PCB electrical design and chassis mechanical product design. Katrina not only provides client support and guidance with regard to funding programs, but also direction and leadership to assist clients with their product development processes.

INDUSTRY NEWS

• Funding for the Yves Landry Foundation AIME Initiative program has been suspended. This extremely popular program provides funding for training programs that lead to advancements in innovation in the Ontario manufacturing sector. It is hopeful that funding will renew for 2010/2011, and applications are still being accepted, to be placed in a queue pending funding renewal.
• On May 1, 2010, Research & Technology Advisors of the Canada Revenue Agency will begin utilizing a new Claim Review Manual for SR&ED claims. This new internal procedures document is intended to provide a single source of reference for review procedures, and is intended to provide more consistency amongst claim reviews. Specific focus will be placed on planning reviews, coordinating reviews with Financial Reviewers, conducting reviews and working with claimants, reporting on review results, and documenting reviews.

CONTACT US

For more information about any of the content in this newsletter, or to arrange a complimentary consultation, please contact Jason Schwandt at 905-738-6770 x2010 or via [email protected].