Business

Sheridan College Hosts Innovation Forum

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Last month HalTech, Sheridan College and the Oakville Economic Development Centre in partnership with Public Works, Government Services Canada, and the Office of SME’s hosted an Innovation Information Forum that took place at Sheridan’s Oakville Campus.

The event consisted of a series of sessions dedicated to bringing together entrepreneurs, with government departments and agencies to provide up to date info on current innovation and commercialization programs.

If you missed the event, here is a rundown of topics discussed:

Build in Canada Program (BCIP)
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The Build in Canada program started as a pilot program in 2010 aimed at supporting innovation in Canada’s business sector. After a successful pilot, the Government of Canada announced they would make the program permanent, with funding allotted in the 2012 Federal budget.

The program helps companies bridge the pre-commercialization gap by procuring and testing late stage innovative goods and services within the federal government before taking them to market by:

  • Awarding contracts to entrepreneurs with pre-commercial innovations through an open, transparent, competitive and fair procurement process.
  • Testing and providing feedback to these entrepreneurs on the performance of their goods or services.
  • Providing innovators with the opportunity to enter the marketplace with a successful application of their new goods and services.
  • Providing information on how to do business with the Government of Canada.

The Build in Canada Program targets innovations in the following priority areas:

  • Military
  • Environment
  • Health
  • Safety & Security
  • Enabling Technologies

Canadian businesses with an innovative good or service that has not yet been sold commercially can visit this website regularly to find the detailed requirements for any open Call for Proposals for the Build in Canada Program.

Or for additional information contact the BCIP team at innovation@pwgsc-tpsgc.gc.ca

Engage in Grants Program
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Engage Grants are designed to give companies that operate from a Canadian base access to the unique knowledge and expertise available at Canadian universities.

These grants are intended to foster the development of new research partnerships between an academic researcher and a company that have never collaborated before, by supporting short-term research and development projects aimed at addressing a company-specific problem in the natural sciences or engineering fields.

Engage Grants support well-defined research projects undertaken by eligible university researchers and their industrial partners. A maximum grant of $25,000 over a period not exceeding six months will be awarded to the academic researcher to cover the direct project costs associated with the research activities needed to address the identified problem

For details on how to apply contact your local NSERC office.

Industrial Research Assistance Program (IRAP)
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NRC Industrial Research Assistance Program (IRAP) provides financial support to qualified small and medium-sized enterprises in Canada to help them undertake technology innovation.

In order to be considered for possible IRAP funding, the basic eligibility criteria are:

  • be a small and medium-sized enterprise in Canada, incorporated and profit-oriented;
  • have 500 or fewer full-time equivalent employees; and
  • have the objective to grow and generate profits through development and commercialization of innovative, technology-driven new or improved products, services, or processes in Canada.

IRAP also provides advisory services for clients looking for help during the innovation process. Their industrial technology advisors (ITA’s) can assist in areas such as:

  • technology and business assistance;
  • literature and patent searches;
  • referrals to other programs and services;
  • expertise searches;
  • linkages and networking to appropriate resources; and
  • strategic intelligence.

Visit the IRAP website for more information of programs available to you and your business.

CRA: SR&ED
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The Scientific Research and Experimental Development (SR&ED) Program is a federal tax incentive program set in place to encourage Canadian businesses of all sectors to conduct scientific research and experimental development. It is the largest single source of federal government support for industrial R&D. The program awards over $4.5 Billion to 18,000 taxpayers each year, 75% of these are small businesses.

The SR&ED Program gives claimants cash refunds and / or tax credits for their expenditures on eligible R&D work done in Canada.

Take a look at these videos that provide more detailed information on SR&ED tax incentives.

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