Is your company looking for R&D funding and not sure if IRAP funding suits your needs? Take a look at some examples of how a manufacturer took advantage of IRAP funding to improve productivity, develop new products and hire the right team of technical experts to successfully grow their company.
Enhanced Capital Recovery (ECR) can help with your IRAP projects
ECR is your one stop R&D funding consulting firm. Our industry experienced consultants will look at your whole situation to help you determine the best funding sources for your projects, including IRAP and SR&ED. In some cases both IRAP and SR&ED can be applied to the same projects. We’re here to guide you through the entire process.
In terms of IRAP project support, ECR provides the following full cycle IRAP funding consulting services:
- Assistance with the preparation of the IRAP Project Proposal
- Assistance with setting up the firm’s ability to track and manage time and costs spent on the project
- Assistance with the monthly IRAP claims process
- Assistance with the preparation of the IRAP Final Report
IRAP Manufacturing Examples
A cabinet manufacturer first utilized the NRC’s IRAP program to support improvements on the company’s manufacturing productivity. The company wanted to apply new factory simulation software to help optimize manufacturing flow through the processing plant. The IRAP supported simulation software allowed the company to assess shop floor layouts, identify and remove bottlenecks.
Supporting new product lines
Subsequently, the same manufacturing company looked for technical assistance for a new line of cabinets they were developing. Through NRC-IRAP support, the company was able to hire its first engineer to work on this project and successfully develop the product.
Hiring the right experts
Building on their success, the cabinet manufacturer used the support of IRAP to hire two additional engineers, including a specialist in wood properties. This expert contributed to further improvements to the manufacturing processes and a 40% decrease in rework due to previously common errors in the measurements.
The IRAP project supported engineers, continued to contribute by improving and reformulating many of the company’s custom finishing processes. Over 30 finishes were reformulated, and a 33% reduction of finishing time and rework was achieved.
From initial introduction to IRAP to present, the cabinet manufacturer’s sales grew by 38.6% despite a decline of 25% in the industry during the same time period.
Find out how you can benefit from R&D funding sources in Canada. For all of your IRAP, SR&ED and full service R&D funding support, contact ECR today to book a free consultation with one of our experienced consultants.