Small business, startups and Canadian Controlled Private Corporations looking for funding should know about CICP, SRED and IRAP
Canadian Innovation Commercialization Program (CICP)
The Canadian Innovation Commercialization Program (CICP) is a significant initiative of the Government of Canada to assist companies, with pre-commercialized innovative products, to test and showcase their products to potential government users. The CICP is a $40 million program supporting the development of Small and Medium Enterprises (SME) in Canada.
If you are a Canadian business with an innovative technology that has not yet been sold commercially, keep watch at www.buyandsell.gc.ca/innovation for the precise timing of the next Call for Proposal and for details about how to submit a proposal.” Click here for the announcement of the Canadian Innovation Commercialization Program
To contact the Vancouver Office of Small and Medium Enterprises (OSME), Public Works and Government Services Canada send an e-mail to Sachin Sobhee or call Sachin Sobhee at 604-775-7022.
The CICP program is the latest addition to the suite of government programs intended to promote innovation and technological advancement in support of businesses in Canada.
Other programs include:
- The Scientific Research and Experimental Development (SR&ED) tax refund program. A Canadian Controlled Private Corporation(CCPC) can earn an investment tax credit (ITC) of 35% up to the first $3 million of qualified expenditures for SR&ED carried out in Canada. This program provides cash refunds ($40,000 to $200,000 and more) and investment tax credits to businesses performing experimental development to achieve technological advancements in creating new materials, devices, products, or processes, or improving existing ones.
Click one of the following:
- for more details and facts about the SR&ED tax refund program
- to get a ballpark estimate of your potential SR&ED tax refund
- for a confidential consultation
- The NRC Industrial Research Assistance Program(IRAP) supports small and medium-sized enterprises in Canada to grow stronger, grow faster and grow bigger through innovation and technology. The program helps firms to develop technologies and successfully commercialize them in a global marketplace, by providing technical and business advisory services and financial assistance to the small and medium-sized enterprises. Click here to visit the NRC Industrial Research Assistance Program in British Columbia
These programs are not mutually exclusive. Participation in more than one program can certainly have an impact on the total benefit realized. To maximize your benefit…
Contact us for a no-risk and confidential SR&ED consultation