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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.
Canada Scientific Research and Experimental Development Tax Incentive Program ( SR&ED) 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. 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. EUREKA 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. Alberta Alberta Innovates
Only Applies to : You could get support for the research and innovation-based activities of your business from the Government of Alberta.
Alberta Alberta Product Commercialization Centres
Only Applies to : If you are developing a new product, get the equipment, test facilities, lab and other services to bring your idea to market faster.
Alberta Alberta Scientific Research and Experimental Development Tax Credit Program
Only Applies to : Your corporation may be able to receive a tax credit for scientific research and experimental development expenditures incurred in Alberta.
Only Applies to : Use this self-service tool to find funding, programs, services and more to help with your business innovation.
Alberta New Brunswick Newfoundland and Labrador Atlantic Innovation Fund
Only Applies to : If your business is in the Atlantic provinces, you could get funding to develop new technology.
New Brunswick Newfoundland and Labrador Nova Scotia Prince Edward Island R&D Proof of Concept
Only Applies to : Apply for a grant to reduce the technical and financial risk of your innovative, pre-commercial research and development project.
Newfoundland and Labrador R&D Vouchers
Only Applies to : Access funding for technical expertise and facilities that will support your research and development activities within your innovative business.
Newfoundland and Labrador Nova Scotia Ontario Prince Edward Island Quebec
Tax credit for technological adaptation services
Only Applies to : You could receive a tax credit representing a portion of expenses related to technological adaptation services.
Quebec Tax holiday for foreign experts
Only Applies to : If you recruit foreign experts for your Quebec innovation project, you could obtain a tax holiday.
Quebec Tax holiday for foreign researchers
Only Applies to : If your business does scientific research and experimental development, you could obtain financial assistance to recruit foreign researchers.
Only Applies to : Accelerate your export or innovation projects with the help of strategic consulting support and streamlined access to the capital you need.
Quebec Programme BioMed Propulsion
Only Applies to : Your Quebec business with high growth potential in the life sciences sector could get financial assistance to commercialize its research results.