When looking into ways for young companies to raise the much needed cash they need for start up; here are four options when looking into the avenue of Grants:
1) SR&ED Tax Credits – The Scientific Research and Experimental Development tax credits are available to all companies in all provinces but are administered based on the location of a company’s headquarters. Eligible companies can be involved in any industry, and can be of any size.
Funding Range: Up to 64% of expenditures(up to $3 Million)
2) Tecterra’s IND Program – Tecterra Geomatics offers this funding program to companies in the geomatics or GIS industries, and will fund companies in any phase of development. The program does not cover operating expenses or capital expenditures.
Funding Range: $150,000-$500,000
Funding Model: 50% match on investment
3) IRAP’s Tech Innovation Projects – The National Research council offers the Industrial Research Assistance Programs(IRAP) to any small and medium sized companies in Canada with fewer than 500 full time employees. Companies must be focused on innovations and technologies that improve products, services or processes in Canada.
Funding Range: $30,000-$300,000
Funding Model: 50% – 80% match on investment
4) Mitacs’ Elevate & Accelerate Internships – The Mitacs internships provide financial support for interns currently enrolled in graduate school programs at any Canadian university. The intern’s role at the company must in some way pertain to the field of study of the student, and funding for that role varies based upon the specific program.
Funding Range: $7,500-$44,000(Depending on the program)
Funding Model: $7,500 – $36,000 match on investment(depending on program)
– Alberta Venture.com June 2015 Addition.