Finding funding your business and projects can be hard, especially within IT where a lot of work and businesses can be overlooked. But luckily, the Canadian government has a lot of different various funds and grants set up for businesses just like yours that are waiting to be taken advantage of!
IT Businesses helping with or working in any aspect of SR&ED, or Scientific Research and Experimental Development, have a lot of possible funding and grant programs no matter your expertise or workload. Innotek provides help with attaining software government grants in BC to take the load off your shoulders, even helping you receive IT startup funding in Vancouver.
What Kind of Different IT Funds and Grants Are Out There?
There are a variety of different grants available no matter how far along or specific your work is within the SR&ED field. Ranging from starting out with IT startup funding, to grants fro late-stage development strategies, to support for hiring Ph.D. students covering labour, to short term projects as well. These grants are here to help you along with your goals and making progress and discoveries no matter how grand or small. Here we will outline the different grants and their requirements.
Industrial Research Assistance Program (IRAP) Tech Funding
This program has two different subsections that apply to Canadian businesses, the IRAP ARP and IRAP Mid-size. The IRAP ARP focuses on giving out grants to projects that have a length of 1 year or less, specifically for projects focusing on solving internal technical challenges such as product or technology improvements.
This can fund up to a maximum of $50,000. The IRAP Mid-size is for projects continued from a previously successful IRAP ARP project, generously funding around 65-80% of your expenses for the continuation of the project.
Sustainable Development Technology Canada (SDTC)
These grants are specific to pre-commercialization or late-stage development strategies directed at helping technological innovations that might help the environment. Potentially if your project is targeted towards mitigating environmental concerns, such as portable water, climate change, and clean air SDTC might be the grant for your business.
R&D Project Hiring Grants Program
Such as the title suggests these grants are geared towards hiring, specifically internships or fellowships, and maximizing the potential for academic research partnerships. The R&D Project Hiring Grants Internship Program promotes working with a college or university student, either post-graduate or a master graduate, through an internship with coverage for up to 50% for the expenses of hosting the internship.
The R&D Project Hiring Grants Fellowship Program works similarly but focuses on work with a Ph.D. grad or post-doctoral fellowships for 12 months, providing up to $35,000 in grants and potentially $70,000 for the total funding of the project.
National Sciences and Engineering Research Council (NSERC)
These grants also have two different subsections; the NSERC Engage grant and NSERC Collaborative Research and Development grant, or NSERC CRD. NSERC Engage provides up to $25,000 per academic researcher for short term projects completed within the range of 4-6 months. Meanwhile, the NSERC CRD focuses on longer-term projects, usually following NSERC Engage projects, providing up to $200,000 a year for 5 consecutive years.
Mitacs Research Grants for Canadian Small Businesses
This grant focuses on small businesses looking to hire a Ph.D. student, giving up to $30,000 for coverage of the students’ labour for 2 years. Helping small businesses get the staff and expertise they need to grow and develop further.
Unsure if You Qualify and How to Apply?
Don’t hesitate to take advantage of these opportunities and funding possibilities! Innotek can help guide you through and make sure you fit, finding the right grant and funding for you and your project. Innotek offers an experienced team of technology experts and engineers to guide you to help you claim the funding you so rightfully deserve.