Government Grants & Loans

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 1. Grants to cover Labor Costs

IRAP (Industrial Research Assistance Program) under their ARP (Accelerated Review Program) covers 80% of Project labor costs to a max of $75,000 (and 50% of total labor can be counted as overhead, which is also covered at 80%) website:  https://nrc.canada.ca/en/support-technology-innovation/about-nrc-industrial-research-assistance-program

Businesses can leverage the Government of Canada’s Student Work Placement Program (SWPP), which provides employers with wage subsidies of up to $7,000 to hire post-secondary students for paid work experiences. Website: https://www.canada.ca/en/employment-social-development/news/2018/04/backgrounder-student-work-placement-program.html

Several open funding programs from Employment and Social Development Canada (ESDC) support jobs, training, and social development across various industries. Website: https://www.canada.ca/en/employment-social-development/services/funding.html

2. Grant for Technical and Digital Innovation

The Canada Digital Adoption Program (CDAP) offers grants to help owners add technology to get online, reach more customers, operate more efficiently and propel their businesses forward.  Business owners can receive up to $15,000 in grants to develop their Digital Adoption Plan. Website: https://www.rbcroyalbank.com/en-ca/my-money-matters/business/business-stages/grow-your-business/what-business-owners-need-to-know-before-applying-for-the-new-canada-digital-adoption-program-cdap/

3. Grant To Cover ALL Costs To Enter a New Market

The Trade Commissioner Service offers an extremely successful Grant (currently closed but will open for intake in early 2025, funds annually) called CANEXPORT Grant to cover costs of sales activity related to export or activity outside of Canada. Contribution Rate: 50% to a max of $50,000

Website: https://www.tradecommissioner.gc.ca/funding-financement/canexport/sme-pme/index.aspx?lang=eng

4. Grant for Environmental & Green Investments

Environment and Climate Change Canada (ECCC) Funding Programs: The government of Canada offers funding through a variety of grants and contributions programs. A complete listing of programs can be found here. Website:

https://www.canada.ca/en/environment-climate-change/services/environmental-funding.html

5. Grants for New Businesses and Start-ups

The previously mentioned NRC offers a program for mentorship and funding to start-ups so they can grow and develop innovative technologies. The program offers grants to fund R&D project costs from $50,000 to $500,000. Website: https://nrc.canada.ca/en/support-technology-innovation

The Scientific Research and Experimental Development (SR&ED) tax incentive program encourages businesses, including start-ups, to invest in R&D. It’s the largest tax incentive federal program in Canada, offering tax credits in three forms: a tax deduction, a tax credit or a cash refund. Companies can receive up to 35% of qualifying R&D costs as a tax credit and reduce their future corporate taxes.