The Pan-Canadian Artificial Intelligence Strategy, launched in 2017, has catapulted Canada as a leading global player in AI. According to a report by the University of Toronto, this initiative has injected $125 million into the country’s top AI talent and research institutions as of 2020. It has also made Canada a true leader of AI innovation, bringing 50,000 jobs and $3 billion in […]
The tax credit for the Production of Multimedia Titles has been in place since 1996 and was created to develop the multimedia sector in Quebec and make the province an attractive place to develop video games and interactive digital media applications. A variety of interactive media products can be considered eligible for this credit, with […]
While the life sciences and health technology sector – LSHT for short – has seen an average of about 5% growth per year over the past decade, 2020 was a critical year for medical innovations as the world faced the COVID-19 pandemic. This crucial industry encompasses everything from prosthetics to pills, as well as therapeutics, diagnostic tools and methods, medical […]
Entrepreneurs looking for funding in Canada have access to a large number of government programs that can support many of the costs associated with running a business: from R&D salaries and subcontractor costs to export-related expenses like market research and advertising to name only a few. Despite the variety of programs in existence—whether they be […]
On April 19th, 2021, Deputy Prime Minister and Finance Minister Chrystia Freeland presented the first Federal budget in two years. Despite the proposed $101 billion investment and projected $154.7 billion deficit in 2021-2, no personal or corporate tax increases are planned. The budget’s focus on economic recovery and growth means several measures and investments will benefit Canada’s […]
As soon as the Ontario and Quebec provincial budgets were released, R&D Partners combed through their pages to find out what kind of financial support innovative companies from both provinces could expect from these highly anticipated government releases. In this month’s blog, we will share with you the announcements that most caught our eye. This […]
What is the innovation supercluster initiative? In 2018, the Government of Canada announced the launch of 5 innovation superclusters. These organizations were meant to foster innovation in key economic sectors, increase collaboration between the private sector and researchers, create jobs and increase Canada’s competitive advantage in technology development. The Federal Government planned to invest $950 million […]
R&D Partners is compiling a list of financial aid and other measures created or amended to help businesses struggling in the wake of COVID-19. We will continue to update this list as the situation progresses, so please check back regularly. Table of Contents Federal Grants, Subsidies & Loans Challenges/Calls for Solutions Tax Deferrals Other Provincial […]
Over the past few months, we’ve seen various levels of government create many new funding programs for Canadian companies that were hit hard by COVID-19 or the necessary lockdown measures. This has affected nearly every industry, from the biggest industrial manufacturers to our favourite local restaurants and independent coffee shops. However, receiving this funding is […]
Introduction: Prior to the COVID-19 pandemic, Ibis World predicted that, over the next five years, the engineering services industry in Canada would begin to grow once more, having contracted following a drop in the price of crude oil in 2015. The field of biotechnology was similarly expected to expand. Though government assistance programs will help […]