Industrial Research Assistance Program (IRAP) — Advisory Services
Highlights
This program is designed for businesses like yours that are focused on innovation and growth. By applying, you gain access to financial assistance and a network of over 250 Industrial Technology Advisors (ITAs) who provide technical and business advice. These advisors have extensive experience in small and medium-sized businesses and can guide you from concept to commercialization.
What You Get:
- Technical and business advice from seasoned professionals
- Referrals to other programs and services
- Access to expertise and strategic intelligence
- Connections to local, national, and international partners
Why Apply?
- Customized support tailored to your business needs
- Networking opportunities with universities, colleges, and industry associations
- Problem-solving support and knowledge-transfer opportunities
This program offers more than just financing; it provides a comprehensive support system to help your business thrive. Qualifying is straightforward, making it an excellent opportunity to enhance your innovation projects and drive your business forward.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment is required.
- No interest rates apply.
Eligible Expenses:
- Salaries and wages for employees directly involved in the project.
- Costs for materials and supplies.
- Equipment and software necessary for the project.
- Fees for subcontractors and consultants.
- Travel expenses related to the project.
- Overhead costs directly attributable to the project.
Ineligible Expenses:
- General operating expenses not directly related to the project.
- Costs for land or building purchases.
- Debt servicing or repayment.
- Entertainment or hospitality expenses.
- Costs incurred before the grant approval date.
Fees:
- No application or processing fees.
Qualifications
- Must be a small or medium-sized business.
- Must be operating in Canada.
- Must be involved in research and development (R&D) or technology innovation.
Must be seeking support for innovation projects.
Disqualifications:
- Businesses not involved in R&D or technology innovation.
- Businesses located outside of Canada.
Description
This program offers your business more than just financial help. You can get up to $1,000,000 to support your innovation projects. This money can be used for research and development, buying new technology, or improving your existing products.
Here’s what you get:
- Technical and business advice from experienced advisors.
- Access to a network of regional, national, and international partners.
- Customized support including business and technology advice, competitive intelligence, and connections to local financing sources.
The program also provides valuable insights and strategic intelligence to help you make informed decisions. You’ll have a dedicated advisor who understands your industry and can guide you from concept to commercialization.
Why this matters to you:
- Expert guidance to navigate complex innovation projects.
- Connections to additional resources and support.
- Opportunities for collaboration with universities, colleges, and industry associations.
This program is designed to help your business grow and succeed by providing the tools and connections you need.
Program Steps
Gather Necessary Documentation: Prepare the following documents to complete your application:
- Business plan
- Financial statements (balance sheet, income statement, cash flow statement)
- Project proposal detailing the innovation project
- Proof of business registration
- Resumes of key project personnel
Contact an Industrial Technology Advisor (ITA): Reach out to an ITA to discuss your project and get advice on the application process. They can provide technical and business advice, and help you refine your project proposal.
Complete the Application Form: Fill out the application form provided by the NRC IRAP. Ensure all sections are completed accurately and thoroughly.
Submit the Application: Submit your completed application form along with all required documentation to the NRC IRAP office. This can typically be done online or via mail.
Follow Up with ITA: After submission, stay in contact with your ITA. They may request additional information or clarification to support your application.
Review and Approval: The NRC IRAP team will review your application. This process may include an assessment of your project's feasibility and potential impact.
Receive Funding and Support: If approved, you will receive funding and access to NRC IRAP advisory services. Your ITA will continue to support you throughout your project.