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well why would you need to when canadian government funds tech startups with amounts greater than what YC offers?
by curiously 12y ago
well why would you need to when canadian government funds tech startups with amounts greater than what YC offers?
- loceng 12y agoI hear of some money sometimes being given out, however unsure of how fast of a process it is, and what state your company needs to be at to qualify - or what types of companies qualify.
- curiously 12y agoI'm not sure either what they are looking for exactly either.
- eswat 12y agoHere’s a very brief gist of the Canadian government programs applicable to startups. You’re looking at either IRAP or SR&ED (aka SHRED), the former being a <$50k grant and the latter being tax credits. Because one is finite cash and the other being credits, there’s less competition with getting into SR&ED than IRAP. For both you need to be developing a tech-driven product in Canada that has the potential to drive growth and earn revenue, so side projects are a no go. IRAP is for new-ish projects while SR&ED can be for new or existing teams. I’m not sure about SR&ED but to get IRAP funding you need to talk to a representative who will assess the project you’re pitching. Depending on the person you get they can be brutal with expectations, expecting a business model canvas, strategies for driving growth and revenue, clear details of why you need the $30k being offered, the technical aptitude of the team executing the idea, etc. Hope my chicken scratch clears some things up. Getting both is not a quick process but shouldn’t take more than a couple months to go from contacting your CRA representative to getting the money.