Boast x Pocketed: 5 Funding Programs Canadian Founders are Missing
Funding can be hard to find, but here are the top 5 funding programs that Canadian Founders are NOT taking advantage of!
Who doesn’t want more money for their business? Did you know that there are plenty of non-dilutive funding programs that Canadian business owners are missing out on to get that FREE MONEY?
We teamed up with Boast, your partners for larger, faster, and easier tax credit returns, to pull together 5 funding opportunities that you need to consider today. That sounds like a pretty good deal!
Let’s get started!
1. SR&ED
Did you know that there’s a $3 billion tax credit program that YOU could be taking advantage of? The SR&ED, Scientific Research and Experimental Development, program provides tax incentives for organizations engaged in basic research, applied research, or experimental development. The incentives are in the form of income tax deductions, investment tax credits, and tax refunds!
If you’re still a little confused, but think that this program is the write fit to catapult your business, read more about SR&ED in our blog post completely dedicated to the program.
2. Mitacs
It’s almost summer and you may be looking for a student intern! Mitacs can help. The program links private sector businesses to post-secondary institutions in the business of hiring and developing a growing generation of researchers.
Looking for a $60,000 research grant? Try Mitacs Elevate! Maybe you want a student hire for a four-to-six-month period? Mitacs Accelerate Student just might be right for you!
It can be overwhelming trying to find grants that fit your business, but when one program administrator has so many options tailored to different business models, you’re bound to find one that works for you.
3. Strategic Innovation Firm
Looking to scale? Here’s the program for you! The Strategic Innovation Fund — Firm Expansion and Growth Stream is the perfect growth grant to help you spread your wings and fly in your market expansion initiatives.
The grant covers 50% of eligible costs and can help businesses increase efficiency and output capacity through expansion.
If you like the idea of this program but aren’t quite ready to expand, the Strategic Innovation Fund also has an R&D and Commercialization Stream built for the development and commercialization of innovative products or services.
4. Tax Credits
There are many provincial tax credit programs that you may benefit from! Check out the tax credits filter on your Pocketed account and you’ll find options galore! Find federal tax credits or opportunities specific to your province and get started!
Here are just a few provincial tax credits available to you!
Newfoundland and Labrador: Interactive Digital Media Tax Credit
Quebec: Tax Credit for an On-The-Job Training Period
Nova Scotia: Digital Media Tax Credit
Manitoba: Film and Video Production Tax Credit
Ontario: Book Publishing Tax Credit
New Brunswick: Research and Development Tax Credit
British Columbia: Film Incentive BC Tax Credit
Alberta: Innovation Employment Grant
Prince Edward Island: Aerospace Tax Holiday
Saskatchewan: Saskatoon Business Development Incentives
Looking for more federal options?
Try these: Canadian Journalism Labour Tax Credit, Canadian Film or Video Production Tax Credit, or the Apprenticeship Job Creation Tax Credit.
Interested in learning more about tax credits? Check out our blog post!
5. Scale AI
The AI-Powered Supply Chains Supercluster Acceleration Program helps fund artificial intelligence startups and SMEs with a variety of different streams like AI Adoption, AI Commercialization, Scale-up, Current and Future Workforce Development, and COVID-19 Response!
This list proves that there are funding opportunities for everyone if you know where to look! All you have to do now is apply!
Starting a business can be daunting. Finding money to fund that business can be even scarier. But it doesn’t have to be! There’s so much untouched funding that we just can’t help but share it with you!
With an abundance of Canadian grant funding and tax credit programs available, we’re here to connect you to that world of FREE MONEY!
Not only that, but you can leverage to good folks at Boast to speed up your claim procedure. Check out Boast for more information on accelerating your innovation funding. There, you can request a free demo with an R&D tax expert. For more alliance perks, use code BOASTAIX when creating your Pocketed account.
At Pocketed, we’re all about connecting you with free money and with other companies that can help you succeed. If this blog helped you, we can guarantee creating an account would help even more! Create your FREE Pocketed account today!
