Canada Launches New Innovation Program
The Canadian Government continues investing into the future of its innovators through the Canada Innovation Program (BCIP). The program aims to help Canadian innovators prosper at home and abroad, and to grow the economy and strengthen the middle class.
Since the program began in 2010, more than 240 contracts, with a total of over $100 million, have been awarded under the program to help Canadian innovators bring their products to the market.
Due to the current success of the project, the Government of Canada is launching a new pilot called the BCIP Challenges Initiative, which will build on from the Canada Innovation Program.
The BCIP Challenges Initiative consists of departments identifying real life needs and challenges that innovators are invited to solve with their products and technologies. The program is designed to increase the use of late-stage innovative technologies by government departments. This allows for Canadian businesses to sell their innovations and contribute to Canada’s economic growth.
The initial phase of the pilot consists of challenges issued by departments and revolves around innovative strategies to protect Canadian soldiers, civilians and infrastructure.
Further information of the following innovation projects and goals can be found at: Selling your innovation.
If you would like to find out more about research and development and how your businesses could benefit from the R&D Tax Credit, contact a Swanson Reed R&D Tax Advisor today.