Four Business Grants Tech Companies Can Apply for Right Now

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If you’re an entrepreneur, you overcome many hurdles every day to ensure your company’s success. While the issues an owner faces while managing their firm can be extremely diverse, according to a recent report titled A nation of innovators, a third of Canadian startups have at least one significant challenge in common: finding proper funding.

There are fortunately many options for startups who are looking to access forms of capital or financing including tax credits, equity crowdfunding and loans. Here I’d like to share four business grants that you can apply for right now.

It should be noted that with all of these grants, your company must share some of the cost of the program or project that the grant covers. As any businessperson knows, you need to spend money to make money.

1. BC Tech Co-Op Grants Program

Funding: Through the BC Tech Co-op Grants Program, small technology companies in British Columbia are eligible to receive up to $2,700 to help cover the cost of hiring a co-op student over a four-month term.

Eligibility:

  • Small tech companies (fewer than 50 employees) based in BC.
  • Students in approved co-op programs at BC post-secondary institutions.
  • Must be a first placement: either first co-op student for the employer or a first co-op placement for the student.

For more information and to apply, visit bcic.ca/techworks

2. Industrial Research Assistance Program

Funding: Through the Industrial Research Assistance Program, SMEs in Canada are eligible to receive up to $150,000 for technology innovation projects.

Eligibility: 

  • Canadian SME, incorporated and profit-oriented.
  • Have 500 or fewer full-time equivalent employees.
  • Have the objective to grow and generate profits through development and commercialization of innovative, technology-driven new or improved products, services or processes in Canada.

For more information and to apply, visit: nrc-cnrc.gc.ca/irap

3. Business Innovation Access Program

Funding: Through the Business Innovation Access Program, companies are eligible to receive up to $50,000 per innovation project.

Eligibility:

  • For-profit corporation operating in Canada.
  • Have 500 or fewer full-time equivalent employees.

For more information and to apply, visit nrc-cnrc.gc.ca/eng/irap/biap

4. Youth Employment Program

Funding: Through the Youth Employment Program, businesses are eligible to receive up to $30,000 per graduate to cover the cost of a 6-12-month internship.

Eligibility:

  • An incorporated and for-profit company operating in Canada.
  • Have 500 or fewer full-time equivalent employees.
  • Ready to enhance your innovation capacity, and willing to establish a relationship with IRAP.

For more information and to apply, visit nrc-cnrc.gc.ca/eng/irap/services/youth_initiatives.html

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