Tag Archives: IRAP consultants

IRAP Funding Examples

Is your company looking for R&D funding and not sure if IRAP funding suits your needs?  Take a robot moving piece IRAP examplelook 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

Improving productivity

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.

Contact Us

Find out how you can benefit from R&D funding sources in Canada.  For all of your IRAP, SR&ED IRAP examples and consultantsand full service R&D funding support, contact ECR today to book a free consultation with one of our experienced consultants.








 

 

Is Your Project Eligible for IRAP Funding?

Are you looking for end to end R&D innovation funding support? 

Find out how Enhanced Capital Recovery can help your company start with IRAP, plan out IRAP funding R&D consultantsinnovation activities and then capture more of the costs for innovation via SRED.

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.

IRAP eligibility

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!