Did you know …
The ACE Project Space not only helps to develop solutions for Entrepreneurs in Residence, there are also a number of resources available in our front office at 321 McDermot Avenue, 5th floor:
- NSERC: Available Thursday afternoons from 1:00 to 4:00 pm.
- NRC IRAP: Available half-days on Wednesdays, call for available hours.
- CRA SR&ED: Available every second Thursday (Nov 16, 23 and Dec 7, 14) call for available hours.
What exactly are these organizations able to provide?
NSERC: Natural Sciences and Engineering Research Council of Canada
The Natural Sciences and Engineering Research Council of Canada (NSERC) is a major funder of collaborative research projects between industry and the College. They aim to make Canada a country of discoverers and innovators for the benefit of all Canadians.
The agency supports university students in their advanced studies, promotes and supports discovery research, and fosters innovation by encouraging Canadian companies to participate and invest in postsecondary research projects. NSERC researchers are on the vanguard of science, building on Canada’s long tradition of scientific excellence.
Representatives are available Thursday afternoons from 1:00 pm to 4:00 pm at the project space for more information. www.nserc-crsng.gc.ca/index_eng.asp
Read more about ARD Grants here: http://www.nserc-crsng.gc.ca/Professors-Professeurs/RPP-PP/ARD-RDA_eng.asp
NRC IRAP: National Research Council’s Industrial Research Assistance Program
The National Research Council-Industrial Research Assistance Program (NRC-IRAP) is Canada’s premier innovation assistance program for small and medium-sized enterprises (SMEs).
IRAP provides financial support to Red River College to assist startups and SMEs in solving problems, innovating, and commercializing new or existing products and services. They are easy to work with and projects can be put together and approved of very quickly.
IRAP has a long history of providing excellent technical and business advisory services related to research and development, including strategic intelligence and customized solutions to fit your business needs. They can help fill the gap by providing linkages to other small- and medium-sized enterprise-focused organizations, potential partners and investors.
Through IRAP’s comprehensive services, clients are better equipped to perform research and development, commercialize new products, processes and services, and access new domestic and international markets. They are committed to improving the long-term competitiveness of firms in Canada and helping to build a competitive advantage for Canada based on excellence in science and technology.
Representatives are available half-days on Wednesdays at the ACE Project Space. For more information on NSERC, visit: www.nserc-crsng.gc.ca/index_eng.asp
CRA SR&ED: Canada Revenue Agency – Scientific Research and Experimental Development Tax Credit
The Scientific Research and Experimental Development (SR&ED) Tax Credit is a tax incentive program, with the intention of advancing scientific knowledge and technology in Canada.
The method to establish if there is SR&ED involves answering five questions.
- Was there a scientific or a technological uncertainty?
- Did the effort involve formulating hypotheses specifically aimed at reducing or eliminating that uncertainty?
- Was the overall approach adopted consistent with a systematic investigation or search, including formulating and testing the hypotheses by experiment or analysis?
- Was the overall approach for the purpose of achieving a scientific or a technological advancement?
- Was a record of the hypotheses tested and the results kept as the work progressed?
To see if you qualify for the SR&ED Tax Credit, a great place to start is their Self Assessment Learning Tool at the following link: https://www.canada.ca/en/revenue-agency/services/scientific-research-experimental-development-tax-incentive-program/self-assessment-learning-tool.html
Representatives are available every second Tuesday at the ACE Project Space. For more information on CRA’s SR&ED, visit: www.canada.ca/taxes-sred
For more information on meeting with representatives from the above organizations, contact the ACE Project Space via 207-949-8318 or visit: www.rrc.ca/aceprojectspace