SR&ED (Scientific Research & Experimental Development) is a government program that rewards companies that perform R&D in Canada. The program makes Canada a more economically competitive and technologically advanced nation and it has been in existence since the 80’s. The Canadian incentive program is one of the most generous R&D programs in the world. This is not a grant – you are entitled to this money under the Income Tax Act.
Most incorporated Biotech companies qualify for the SR&ED Program.
If you answer yes to any of the following questions you could be sitting on an untapped refund.
- Is your company incorporated?
- Do you practice in the field of biotechnology?
- Does your technology involve the manipulation of cells, tissues, organs, or whole organisms?
- Does your practice use technology to study proteins, DNA/RNA, and/or enzymes?
- Does your technology involve gene-based therapeutics or pharmacogenomics?
- Does your work advance a field of science, technology, or medicine?
There are only 3 criteria for eligibility plus evidence.
- Scientific uncertainty
- Scientific advancement
- Systematic investigation
- Scientific content and evidence