Cryptocurrency and Blockchain are two rapidly growing markets that utilize high performing software which can reap massive financial benefits. More research and development into these industries are constantly being encouraged by different people.
Innotek Consulting wants to join in and recommend Canada’s SR&ED program for the continued development of cryptocurrency and blockchain technologies. We specialize in cryptocurrency software funding in BC and helping businesses take advantage of government tax credits and grants to fund their next projects.
We’ll also assist in Blockchain development funding in BC for your company, as we recognize the potential of cryptocurrency. To get a head start and learn more, call us at (604)-259-9937. We’ll go over the benefits of the SR&ED program and how they can be of great help for your next R&D venture.
Detailing the SR&ED Program
For those who are involved in the research, development, and investment in different cryptocurrencies, SR&ED a very useful program you can take advantage of. The SR&ED stands for Scientific Research and Experimental Development and is a special tax incentive plan from the Canadian government.
The goal of the program is to support and help businesses incentivize the development of technological advancement. Cryptocurrency and Blockchain present an innovative, progressive avenue for people to invest and make more money for themselves.
The SR&ED refunds expenses made during research and experimentation, so business owners do not have to worry about lost funds. According to the Canada Revenue Agency (CRA), the work must advance the understanding of scientific relations or technologies, address scientific uncertainty, and utilize a systematic investigation procedure with qualified individuals.
If your cryptocurrency project falls within the definition of the CRA’s requirements, you and your team may be a good candidate for the SR&Ed program and we can help guide you through the process.
How SR&ED Benefits Research & Development Projects
To go into detail on what work would qualify for SR&ED, there are simple boxes that need to be checkmarked in your application.
Your project must be an experimental development to technically advance new materials, devices, products, and processes. They may also improve existing ones currently in use. The applied research is overall important and must have a practicality to it. All of this must also scientific knowledge of the topic.
Furthermore, projects approved for an SR&ED tax incentive have to also support work in engineering, design, operations research, mathematical analysis, and computer programming. Date collection is also another important aspect to consider for your research and development project.
If you are not able to qualify for the SR&ED tax incentive program, there are other viable options at your disposal. These include Industrial Research Assistance Program (IRAP), Sustainable Development Technology Canada (SDTC), and the National Sciences and Engineering Research Council (NSERC).
You can also apply for any R&D Project Hiring Grants and Fellowships that provide academia, internships, and technological partnerships.
How Innotek Can Help You Claim Credits
For those involved in the research and development of cryptocurrency and Blockchain, our team at Innotek can help you simplify the application process and develop your project. We want to encourage businesses and stakeholders to let us assist them in furthering the possibilities of cryptocurrency technology.
We’re not only committed to helping businesses take advantage of the SR&ED benefits, but also deliver on unmatched customer service. We want your business to thrive and we believe cryptocurrency and Blockchain and examples of untapped potential.
Amazing SR&ED Credits Now at Your Fingertips
Attractive Credits NOW Available – Cryptocurrency Software Funding & Blockchain Development Funding
Interested in learning more about the SR&ED Tax Incentive Program or other similar grants? Innotek has always got you covered. We wholeheartedly understand the challenges of growing and expanding a business in Canada. We want to help you be successful and operate with a good mindset.