Technology

A nation of innovators

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A nation of innovators 12 2015 Canadian emerging companies' survey Government funding: Leaving money on the table? In recent years, federal and provincial governments alike have invested significant sums to spur the growth of Canada's startup ecosystems. As a result, emerging Canadian companies have a host of government funding sources available to them. In recent years, federal stalwarts like the Industrial Research Assistance Program (IRAP) and Scientific Research and Experimental Development (SR&ED) tax credits have been joined by Canada Accelerator and Incubator Program (CAIP) funding, the Northleaf Venture Catalyst Fund and the Small Business Job Credit. The provinces have also made significant investments in programs supporting technology, innovation and entrepreneurship. Despite this, more than half of the companies surveyed this year don't access these funds—a surprising and even alarming notion. Awareness and knowledge seem to be contributing factors: firms simply don't realize what's out there for them. But a lack of awareness isn't necessarily the only reason firms opt not to pursue government funding. Early stage companies in particular often try to spend very little money—and may not feel it's worth the time and cost involved in applying for funding or submit SR&ED claims for what they see as modest expenditures. Yet the fact remains that these firms are simply leaving money on the table. Close to HALF of Canadian startups are not taking advantage of sources of government funding to impact their bottom line

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