Innovation Funding Overview: SR&ED, TECTERRA, IRAP & Mitacs

May 13 2014
By: boastcapital
Categories: Innovation Funding, R&D Tax
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innovationfundingmay13

Boast Capital held an Innovation Funding Lunch & Learn with support from Calgary Economic Development on May 13, 2014.The following four Innovation Funding programs were covered:

SR&ED, TECTERRA, IRAP and Mitacs’ Innovation Funding Programs at a Glance:

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SR&ED Tax Credits TECTERRA’s IND Program IRAP’s Tech Innovation Projects Mitacs’ Elevate & Accelerate Internships
ELIGIBILITY
Must be Canadian-Controlled? No Yes Yes No
Province-Specific? No No (Some programs are specific to AB) No No
Must be SME? No Yes Yes No
Industry Specific? No Geomatics Technology No
FUNDING
Funding Amount(s)? Up to 64% of qualifying expendituresup to $3M Between $150 – $500K Between $30K – $300K

Accelerate – $7.5K (at minimum)

Accelerate Cluster – $44K

Elevate- $32K

Repayable Contribution? No – credit Yes – if commercial success No No
Funder Matching Amount? No 50% 50% – 80%

Accelerate – Match $7.5K

Accelerate Cluster – Match $36K

Elevate – Match $25K

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*Please note that this chart is meant to provide a simplified overview of complex funding programs. Please contact the funding organizations for specific details regarding eligibility criteria and more info.

Slides from the Innovation Funding Lunch & Learn Presentation on May 13:

[su_divider] Watch for our Ultimate Guide to Innovation Funding in Western Canada e-book, hitting the Internet June 2014! Join our mailing list to be one of the first to access it. [su_divider]

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