EUREKA!
Highlights
This program is designed for businesses like yours, offering a unique chance to expand your reach and innovate. By participating, you gain access to a global network of over 45 economies, enabling you to collaborate with international partners and tap into new markets. This means more opportunities for growth and innovation.
What You Get:
- Funding support for co-innovation projects
- Matchmaking services to find the right foreign partners
- Expert advice on developing effective project consortiums
- Access to global value chains and new markets
The financing provided through this program is streamlined, cutting through the usual red tape. You receive advisory services and funding support from NRC IRAP, ensuring you have the resources needed from project proposal to execution. This support can significantly reduce risks and enhance your R&D capabilities, making it easier for your business to innovate and grow.
Financing Details
Type of Financing:
Loan
Repayment Terms and Interest Rates:
- Interest rates are competitive and vary based on the project's risk assessment.
- Repayment terms are flexible, typically ranging from 1 to 5 years.
- Early repayment options are available without penalties.
Eligible Expenses:
- Research and development (R&D) activities
- Salaries for R&D personnel
- Purchase of equipment and materials for R&D
- Costs associated with testing and trials
- Intellectual property protection expenses
Ineligible Expenses:
- General operational costs not related to R&D
- Marketing and sales expenses
- Real estate purchases
- Debt refinancing
Fees:
- No application fee
- No annual fees
- Minimal administrative fees may apply, depending on the loan amount and terms
Qualifications
- Must be an incorporated, profit-oriented small or medium-sized business in Canada.
- Must have 500 or fewer full-time equivalent employees.
- Must plan to pursue growth and profit by developing and commercializing innovative, technology-driven new or improved products, services, or processes in Canada.
Must be a client of the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
Disqualifications:
- None explicitly mentioned in the provided context.
Description
This program helps your business grow by connecting you with international partners for research and development (R&D). By joining, you can access funding to support your projects and find the right foreign partners to boost your R&D capabilities.
Benefits include:
- Funding support for co-innovation projects.
- Matchmaking services to connect you with suitable international partners.
- Expert advice on forming effective project teams and commercializing technology.
This program simplifies the funding process, cutting through red tape and coordinating national financial support. You will receive advisory services and funding from the National Research Council of Canada (NRC) to help you from partner selection to project execution. This is a valuable opportunity to expand into new markets and access global value chains.
Program Steps
Connect with NRC IRAP: Contact the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) by calling 1-877-994-4727 to express your interest in participating in a Eureka project.
Prepare Documentation: Gather the necessary documents to support your application. These include:
- A business plan or pitch deck
- A copy of your company financials
- Resumes or biographies for each member of the management team and technical team on staff
Identify a Project: Visit the NRC IRAP International opportunities web page to view current Eureka calls for proposals and collaboration opportunities. Identify a project that aligns with your business goals.
Find Partners: Utilize NRC IRAP's matchmaking services to find suitable international partners for your project. This step is crucial for forming a strong project consortium.
Develop a Project Proposal: Work with your partners to develop a detailed project proposal. This should outline the objectives, methodology, expected outcomes, and roles of each partner.
Submit the Proposal: Submit your project proposal to NRC IRAP for review. Ensure that all required information and documentation are included.
Review and Feedback: NRC IRAP will review your proposal and may provide feedback or request additional information. Be prepared to make any necessary adjustments.
Approval and Funding: Once your proposal is approved, NRC IRAP will provide advisory services and funding support. Finalize the project details and funding arrangements with NRC IRAP.
Project Execution: Begin the project in collaboration with your international partners. NRC IRAP will continue to support you throughout the project, from execution to commercialization.
Monitor and Report: Regularly monitor the progress of your project and report to NRC IRAP as required. Ensure that all milestones and objectives are being met.
Commercialize Results: Upon successful completion of the project, work on commercializing the developed technology, products, or services. Utilize the global value chains and market access facilitated by Eureka.
