Eligibility & Funding Overview
Here's a direct comparison of four common innovation funding programs:
| SR&ED | IDMTC | TECTERRA IND | IRAP Midsize Projects | |
| ELIGIBILITY: | ||||
| Must be Canadian Controlled? | N | Y | Y | Y |
| Province- Specific? | Y - rates vary | Y- BC only | N (Some other programs specific to AB) | N |
| Must be SME? | N | N | Y | Y |
| Industry Specific? | Advance technology | Interactive digital media | Geomatics | Advance technology |
| FUNDING: | ||||
| Funding Amounts? | Up to 64% qualifying expenditures up to $3M | Up to 17.5% of qualifying expenditures | Between $150 - $500K | Between $30K - $300K |
| Repayable? | N- credit | N - credit | Y - if commercial success | N |
| % of Total Project Cost Funder Provides? | N/A | N/A | 50% | 50% - 80% |
| Compatible with SR&ED? | N/A | N | Y | Y |
Funding for Internships & Employment
| Program | Mitacs Accelerate & Elevate | IRAP YEP | TECTERRA GEO-Placement | NSERC Engage |
| ELIGIBILITY: | ||||
| Must be Canadian Controlled? | N | Y | Y | Must be based in Canada |
| Province- Specific? | N | N | Y - AB Only | N |
| Must be SME? | N | Y | Y | N |
| Industry Specific? | N | Science, engineering, technology, business and liberal arts graduates | Geomatics | Natural Sciences/Engineering - focused |
| FUNDING: | ||||
| Length of Internships | Accelerate - 4 mo Elevate - 8 mo |
Between 6 and 12 mo | Full-time Placement | Up to 6 mo |
| Funding Amounts? | Accelerate - $7.5K (Company must match, totals $15K) Accelerate Cluster - $44K (Company provides $36K, totals $80K) Elevate- $32.5K (Partner provides $25K) |
YEP - $15K - $30K | GEO- 50% of salary, up to $50K | Up to $25K (given to academic researcher) |
| Eligible for SR&ED? | Y | N | Y | N |