In Canada, startups have access to a variety of grants designed to fuel innovation, growth, and economic development:
Canada Small Business Financing Program (CSBFP): Helps startups secure loans through financial institutions by sharing the risk with lenders.
Industrial Research Assistance Program (IRAP): Provides financial support to qualified startups for technology innovation and development projects.
Scientific Research and Experimental Development (SR&ED): Offers tax incentives for businesses engaged in research and development activities in Canada.
Startup Canada Grants: A network of national, regional, and sector-specific grants available to startups across various industries.
Provincial and Territorial Grants: Each province and territory offers its own set of grants targeting startups, focusing on areas like technology, green energy, export development, and more.
FedDev Ontario: For businesses in Southern Ontario, offering funding for projects that drive innovation and economic growth.
Mitacs: Supports research and development projects by connecting startups with academic institutions, providing funding for collaborative projects.
Startups should carefully research and select grants that align with their business goals and project needs. Successful grant applications typically demonstrate innovation, market potential, and a clear plan for how the funding will be used to achieve measurable outcomes.