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 this 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?