The Business Innovation Access Program (or BIAP) has a whopping $20 million government funds up for grabs to help smaller businesses to realize their potential. The program is administered by IRAP. If you own a small to mid-sized enterprises (SMEs) with big aspirations, then you might be eligible to access the funds. The BIAP, a Government of Canada pilot program, was announced in the 2013 Budget … [Read more...] about IRAP: $20M Funds for Investment in Businesses Innovation(BIAP)
Business Grants
SR&ED Tax Credits for Life Sciences and BioTechnology Industries
Numerous research and development projects are conducted by companies in the fields of Life Sciences and Biotechnology. Majority of such projects would qualify for SR&ED tax credits. The qualified projects usually involve laboratory testing and experimentations, subjective testing, and data analyses which may require extensive labour hours and examination of chemicals or processes. There are … [Read more...] about SR&ED Tax Credits for Life Sciences and BioTechnology Industries
Food and Beverage Companies Can Receive Government Funds
Among various funds and grants available to food and beverage industries, Scientific Research and Experimental Development Incentive program (SR&ED) is one of the lucrative one. Many food and beverage industries do not consider filing for SR&ED because they do not believe they qualify. While it is true that altering a recipe by itself does not constitute SR&ED, many companies in the … [Read more...] about Food and Beverage Companies Can Receive Government Funds
New Funding Assessment Tools Are Now Available From CRA
As part of Canada Revenue Agency (CRA) effort for educating and assisting small to mid-sized businesses for Scientific Research and Experimental Development (SR&ED) incentive program, CRA released two new tools namely Self-Assessment Learning Tool (SALT) and the First-Time Claimant Advisory Service (FTCAS). Read the following release for more detailed information: The Canada Revenue Agency … [Read more...] about New Funding Assessment Tools Are Now Available From CRA
$4b Funding Budget Reduced to $3b Within Two Years
Since 2012 The CRA started introducing a number of mandatory changes to the SR&ED program. This resulted in significant drop of SR&ED budget from approximate $4b in 2012 down to $3.6b in 2014. The key changes include: In 2012, The budget announced new funding of $6M over two years for the CRA to implement changes to the administration of the SR&ED program which includes: -Conduct a … [Read more...] about $4b Funding Budget Reduced to $3b Within Two Years
Funds for Development of Interactive Digital Media
Ontario and other provinces remain committed to the development of interactive digital media in Canada. The IDMTC is a refundable tax credit for corporations developing interactive digital media products. Following criteria should be fulfilled to be qualified: Primary purpose is to educate, inform or entertain the user (i.e. video games, e-learning programs, informational products) Product must … [Read more...] about Funds for Development of Interactive Digital Media