Reminders

SR&ED

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While Canada scores high on the level of research and development, the commercialization rate of Canadian new-to-market products is among the lowest of OECD countries. This means that Canadian businesses and Government are not receiving the full value of their investment in R&D. The following series examines multiple options available to Canadian companies that can help to bridge the major commercialization gaps in the manufacturing, ICT, and Agri-food industries to maximize returns on R&D investment.


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Among the companies that invest in government funding initiatives, many do not receive the full value of their application due to the complexity of post application requirements, which can make or break your application. However, a full understanding of these requirements can ensure that the time and resources that your company has dedicated to the initial application provide a maximum return on your investment. The following is the first article in a three part series that goes behind the scenes of major Government Funding processes, including Grant Reconciliation and SR&ED reviews, to examine some key post application requirements that can help ensure that you acquire the full value of your application.


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This is the fourth instalment in a series examining how the SR&ED program and grant funding opportunities can apply to sectors as diverse as the automotive, plastics, food, software, and metal-forming industries.


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Although many are aware of the $3.5 billion in SR&ED tax credits awarded each year to Canadian businesses, many firms are not taking advantage of the $20 billion of funding offered by the federal and provincial levels of governments to spur growth in small to medium enterprises. There are literally hundreds of programs available, varying from tax credits, to non-repayable grants, to repayable grants, each with their own attributes and limitations. Eligibility for each program can vary according to industry sector, size of business, geographic location, and investment activity. Although there is ample finding available, it takes significant management time to first identify eligible opportunities, and secondly to go through application and reporting processes.


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One of the major bottlenecks to growth is finding a way to recoup money that has been spent on improvement of a product or process. The Scientific Research and Experimental Development (SR&ED) program offers companies all over Canada a way to focus on innovation and improvement.



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