Research and development
The consumer's appetite for new and improved offerings is constant. Innovation can help you meet those needs and gain an edge over your competitor's products, services, and procedures. Investing in research and development can be risky, because there is no guaranteed outcome; however, your business could achieve greater profits down the road if you are able to increase efficiencies or commercialize your innovations.
R&D for business involves finding out what the market wants, then designing, prototyping, testing, and producing the final product or service.
Whether you are on your own or have a dedicated R&D team, there are a number of things to consider if you undertake this kind of project:
- Will you conduct your own research or get outside assistance? What additional expenses will this incur?
- You may need to adhere to performance or safety standards and regulations for controlled or restricted products.
- Consider developing an IP strategy to protect your ideas, or perhaps sell or lease your IP down the road.
Take advantage of resources that can help you.
- Scientific Research and Experimental Development Tax Incentive Program
You can get a tax credit if you spend money on industrial R&D in Canada.
- SR&ED Self-Assessment and Learning Tool
Thinking of applying for the SR&ED program? Find out if you are eligible to receive tax incentives and how you can submit your request.
- Partnerships Options for Companies
Get help with your Canadian R&D projects in natural sciences or engineering from colleges and universities in Canada.
- Industrial Research Assistance Program
Your small or medium-sized business may qualify for financial assistance to develop, adopt, adapt and/or commercialize new or improved technologies.
- NRC research facilities
Test and improve your innovative products and technologies by reserving time in these research facilities and with industry experts.
- Conducting market research
Learn more about market research, how it can improve your business decisions, and how to conduct a market research campaign.
- Collaborative Research and Development Grants
You could get a university to help you with your research project in natural sciences or engineering if you contribute half the costs of the project.
- Concierge service
Find information and guidance to access programs and other resources to help with your business innovation.
- Apparel Innovation Centre
If you want to create innovative apparel, you can access product development services, advanced R&D equipment, and technologies at this centre.
- Mitacs Elevate
You could obtain research assistance from a PhD fellow at a reduced cost to your business for projects lasting up to two years.
- Mitacs Accelerate
Learn how you can expand your R&D potential by recruiting a graduate student or postdoctoral fellow to research your technology project.
- Western Research Parks
Get help developing and commercializing your innovative product or service by partnering with the University of Western Ontario's Research Parks.
This R&D network can help you access technology, expertise, and markets in Europe and beyond.
- Digital Accelerator for Innovation and Research
If you are a high-tech entrepreneur, this accelerator can help you use cloud-based compute-and-storage resources to help commercialize your products.
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