Does your business conduct any research and development?
Could you use research funding for your projects?
Have you been looking for research and development grants in Canada?
Look no further. Here is a list of our top research and development funding options for Canadian small businesses.
Canadian Institutes of Health Research (CIHR)
Are you looking to innovate in the health care industry?
Given the current COVID-19 pandemic, the government is eagerly seeking to fund, and fuel applied research in the health care industry. Canadian Institutes of Health Research along with multiple other Canadian health care and public health organizations are collaborating to find solutions to COVID-19 pandemic posed problems. CIHR serves as the Government of Canada’s health research investment agency and supports excellence in all four pillars of health research: biomedical, clinical, health systems services and population health. The institute invests approximately $1 billion each year to support health care research and development in Canada. Research institutions partaking in applicable research can get a significant amount of grants funding.
- In order to apply for this research and development grant, you must first create a ResearchNet account, a CIHR PIN and a Canadian Common CV (CCV) Account.
- Then, you must complete an application on ResearchNet following the listed steps in the process
- These steps may include finding the funding opportunity you wish to apply for, logging in, reviewing opportunity details, and completing all required tasks in ResearchNet
- You will then wait for you Notification of Decision that will be followed by a peer review of an opportunity through ResearchNet
- To read more about other resources for health care innovation related to the COVID-19 pandemic, please click here
- For any additional questions, please contact EVAMAX here
Mitacs funding for research and development
Are you looking to hire experts in your field?
The Mitacs program offers a variety of funding options to encourage Canadian companies collaborate with and hire postdoctoral fellows and graduate students for research projects in their field of study. The Mitacs Elevate program consists of a research grants for a recent PhD graduate.
- Companies and graduates can collaborate on research projects and Mitacs funds up to 50% of the graduate’s salary for a one-year contract
- The Mitacs Accelerate program is for a four-month internship for a research position
- The research project receives $15,000 in direct funding with the industry partner and Mitacs each providing $7,500
Industrial Research Assistance Program (IRAP) for research and development
Are you looking for funding to accelerate your current project?
IRAP is a program funded by the federal government designed to accelerate the research projects within Canada. Business striving for process improvements are the target recipients for this grant. The program administered and managed by the National Research Council of Canada is open to businesses from all provinces.
- It covers between 60% and 80% of all internal labour expenses as well as subcontractor expenses
- This means your business could receive up to 80% of wages paid for all your projects as a grant!
- You can determine your eligibility based on the following:
- If your business is an incorporated, profit oriented small or medium-sized business in Canada
- If your business has 500 or fewer full-time employees
- It plans to pursue growth and profit by developing and commercializing innovative products and services
- You can apply for this research and development grant by submitting your project proposal to the IRAP authorities
- For any additional questions regarding IRAP applications, please contact EVAMAX here
Scientific Research and Experimental Development Tax Credit (SR&ED)
Are you looking for tax credits for your completed R&D work?
The SR&ED Tax Credit program offers research and development tax credits to businesses for their innovation projects. SR&ED Tax incentives are awarded to business performing scientific research and or experimental development as a part of their business projects. The SR&ED program covers project expenditures including wages and salaries paid out for SR&ED work, material expenses and contractor and subcontractor expenses. The program is managed by Canada Revenue Agency.
- Businesses can expect to receive up to 68% of qualified expenditures back in SR&ED Credits in combined federal and provincial credits
- Your business can apply by completing the T661 form as a part of your business’ T2 Corporate Tax filing
- EVAMAX specializes in SR&ED filings and have expert advice
- Please click here for any additional questions regarding SR&ED or any previously mentioned grants and funding programs
EVAMAX is an expert and is ready to help you find the funding best suited for your business! Contact us today.