Are you looking for end to end R&D innovation funding support?
Enhanced Capital Recovery can help with all of the many possible research and development funding incentives in Canada and help your company improve its research capability and bottom line.
Why is IRAP one of Canada’s top innovation funding programs?
IRAP funding is a non-repayable grant – however, funded organizations must contribute a percentage of the overall project cost.
As an extra bonus, IRAP funding can still be claimed as Scientific Research and Experimental Development (SR&ED) when the project’s technical merits align with SRED requirements.
IRAP funding is applied for before innovative work is conducted. Once the work is done, SRED can be claimed based on eligible activities and the associated costs. After deducting the IRAP portion from the activities, the remaining costs are SRED eligible.
Find out if your project is eligible for IRAP funding
NRC Industrial Research Assistance Program (IRAP) provides financial support to over 10,000 qualified small and medium-sized enterprises (SMEs) in Canada to help them undertake technology innovation.
In order to be considered for IRAP funding, organizations must:
- be a small and medium-sized enterprise in Canada, incorporated and profit-oriented;
- have 500 or fewer full-time equivalent employees; and
- have the objective to grow and generate profits through development and commercialization of innovative, technology-driven new or improved products, services, or processes in Canada.
In order to receive IRAP funding both the firm and the project are evaluated by one of IRAP’s Industrial Technology Advisors (ITAs) located across Canada. Consultants can assist with preparing for the application for IRAP
For your IRAP application to qualify, the IRAP Advisor will consider:
- your organization’s financial capabilities and the viability of its plan to commercialize the developed technologies;
- your project’s technical aspects and its potential impact on the organization; and
- your organization’s management capabilities and ability to achieve the expected results expected from the proposed project;
How can Enhanced Capital Recovery support my IRAP application and all other Research and Development funding sources available in Canada?
ECR believes in working closely with your company to support you through the entire innovation process. This includes the following services and more:
- looking at the your company’s past work to see if it is eligible for a SRED recovery;
- helping seek out sources of funding for short term and long term funding;
- planning future project funding via IRAP, the Voucher and other programs
We will assist your company with end-to-end innovation planning and funding including:
- Helping your company see how technological innovation/investments can help improve your bottom line via IRAP funding and other funding sources;
- Assistance with setting up the firm’s ability to track and manage time and costs spent on the your innovation projects for the numerous government recovery programs including IRAP and SRED
- Assistance with the claims process
- Assistance with the preparation of the regular reporting and any queries from any of the authorities
Contact us today to book a free consultation with one of our experienced consultants!