WHAT IS SR&ED
SR&ED (Scientific Research & Experimental Development) is the government’s largest technology-based funding program in Canada and one of the leaders worldwide. Unfortunately, many companies get dazed with the scientific term “SR” and miss on the experimental part “ED” where the latter encompasses more than 95% of the SR&ED claims. The most common myth associated with the program is that applying companies need to have a formal lab setting with white coat scientists, need to have a patent application in process, or that simply applying for incentives might trigger other government related audits. All of these points are simply not true.
So, what’s Experimental Development? In government language it’s the “systematic investigations carried out to overcome a technological obstacle in the field of science or technology by means of experiments or analysis…etc.” In layman’s term, it’s what the industry generally calls “trial & error”. Unfortunately, not all businesses that could be conducting qualifying “Trial & Error” activities in Canada apply for such incentives thus losing a significant leading advantage in their field. In other words, your competition is probably applying and collecting such incentives while you are still debating whether you should explore such funding venue or not. Here are the 7 most important facts that you need to know about the SR&ED program.
Teck Capital not only finances SR&ED claims but we also we work with consultants that have
long standing records of successful SR&ED claims.