Grow your business with non-dilutive funding: How the SR&ED program can support your emerging business
The rapid adoption of technology and prioritizing innovation is essential for any organization hoping to remain competitive. Using non-dilutive grants and tax credits can increase your investments in innovation, hiring and market expansion by offsetting your project costs. The Scientific Research & Experimental Development (SR&ED) program is the largest source of research and development funding in Canada. The program’s purpose is to reward businesses that focus on innovation and advancement in science and technology.
The SR&ED program is available to a wide range of industries, including:
- Agriculture and food processing
- Information and Communication Technology
- Life Sciences fields, including hospitals, medical device manufacturers, pharmaceutical companies, independent researchers and contract research organizations
- Advanced Manufacturing
Not all SR&ED claims are lab-based research—most claims encompass shop-floor development or incremental improvements to products or processes performed by small and medium-sized companies, where projects can span multiple years.
To qualify for SR&ED credits, your project must:
- gain new knowledge that helps to achieve your objectives or resolve a problem
- be undertaken in a systematic investigation or search that is carried out in a field of science or technology by means of experiment or analysis
Eligible SR&ED expenditures may receive a potential cash refund or an investment tax credit to offset taxes payable. Costs covered include:
- Canadian wages and salaries
- Canadian R&D-related contracts
- Payments made to eligible research institutions
Navigating the SR&ED program’s processes and criteria can be challenging—but we can help position your organization for success though a track record of successful claims in your industry.
Want to learn more? We love hearing about new science and emerging tech and will let you know if what you are doing could qualify. Let’s talk!