NorthBridge Consultants Blog

November 2 Seminar: The Government Can Be a Source of Non-Dilutive Financing for Your Startup

Aird and Berlis poster for Nov 2016 seminar

Financing a startup company for innovation or growth has always been a challenge for many in Canada. However, what we lack in VCs is made up for by our plethora of government funding sources. Both the federal and provincial governments provide financial support through over $20 billion in various funding programs each year. If you need to extend your runway, consider doing so in a non-dilutive manner by taking advantage of government funding.

Join us for a free seminar on November 2, 2016 to learn about how sourcing funding from SR&ED tax credits, non-repayable grants and interest-free loans can give early-stage companies the edge they need to finance growth. This seminar will cover the following topics:

  • Scientific Research and Experimental Development (SR&ED) tax credits
  • Industrial Research Assistance Program (IRAP) funding
  • Ontario Centres of Excellence (OCE) funding
  • Federal Development Investing in Business Innovation (IBI) loans
  • Business Development Bank of Canada (BDC) support
  • Structuring your company to take advantage of Canadian funding opportunities

When:
November 2, 2016
5:00 – 5:15 p.m. : Registration
5:15 – 6:30 p.m. : Seminar with Q&A
6:30 – 7:15 p.m. : Networking and Refreshments

Where:
Aird & Berlis LLP
Brookfield Place, 181 Bay Street, Suite 1800 – Toronto (map)

Booking/ Registration:
Please RSVP online

Speakers:

Gerry Fung
CPA, CMA, P.Eng. Vice President, Business Services at NorthBridge Consulting Services Inc.

 

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NorthBridge Summer 2016 Newsletter

Lean Six Sigma Innovation

Direction

Editor’s Welcome — Lean Innovation: The Art of Making Less Into More

Continuous improvement in business is about more than just a set of operational principles to increase efficiency. It is a mindset, and a coprorate culture that is always geared towards finding better, more innovative solutions… Read more.

JIT

JIT, TPS, and the Roots of Lean Six Sigma

Lean Six Sigma is a management methodology that was proceeded by the ‘The Ford System’ and the ‘Just-In-Time’ (JIT) system that were developed to increase value in automotive manufacturing. Henry Ford developed the ‘The Ford System’ for producing the Model-T… Read more.

Henry

Guest Editor Spotlight: Henry Foppoli

As an Engineering Manager at NorthBridge Consultants for over five years, Henry manages a team of government funding specialists and assists clients in various industries such as automotive, plastics, tool and die, civil engineering, pulp and paper, oil and gas, and food… Read more.

Lean Six Sigma

Lean, SR&ED, and Innovation

Over the last century, Lean Six Sigma management principles have been successfully adopted by numerous companies of varying sizes and across diverse industries to gain an advantage in an extremely competitive environment… Read more.

Process Improvement

The Future of Lean Manufacturing

Lean Six Sigma management philosophy was born in a manufacturing sector from the realization that much time and resources are wasted on transportation, unnecessary movement, idle time, defects, over-processed goods, overproduction and inventory… Read more.

GDP

Creating Value in Transactional Businesses

Lean Six Sigma emerged in a manufacturing environment, but there is a growing trend of companies in the transactional industry implementing Lean Six Sigma practices. A wide variety of businesses including banks, insurance companies, hospitals… Read more.

Lean Startup

Preventing Financial Losses in SMEs and Start-Ups

Inspired by the high efficiency of large lean companies, small- to medium-sized enterprises, including start-up companies, have been adopting Lean Six Sigma management principles in order to develop high value processes with minimal waste… Read more.

Oil

Enhancing Innovation in Large Companies

One of the main challenges currently facing large established companies is maintaining a balance between achieving incremental product/service improvements with existing products/services for growing the current target market… Read more.

Innovation

Lean Innovation Leaders

Today’s business leaders face a range of challenges from domestic and international competition to changing consumer needs and global economic turmoil. The demand for innovation, both on the shop floor and in the board room, is strong… Read more.

Employee Spotlight: Yael Algranti

Since joining our Client Management team last November, Yael Algranti has played an essential role in serving new and existing NorthBridge clients in Ontario and Western Canada.  Of all the aspects of her job, Yael most enjoys working with and interacting with people every day, building long-lasting relationships with everyone from fellow employees to current and potential clients. Yael is proud to be a member of the dynamic NorthBridge team and appreciates the value management places on employee input and the warm atmosphere her colleagues have brought to the business.

Yael grew up in the Hamilton area and holds a BA in Psychology from the University of Guelph. Her past experience includes work in child care, activity coordination, and event planning. Most recently, she managed shipping and receiving and marketing for a garden product distributer and retailer.

From a young age, Yael has loved singing and dancing. She has sung in a number of choirs and plays and danced in a wide variety of styles, ranging from jazz and hip hop to ballet and musical theatre. More than anything, Yael enjoys spending time with her friends and family—whatever that may bring!

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December 1 Seminar- Leveraging Your SR&ED Application to Reduce Patent Application Costs

Exploiting synergies between SR&ED/IRAP and patent applications can save time and resources.

Many people don’t realize that significant parallels exist between what is required for a SRED/IRAP filing and for a patent filing. Join experts from Northbridge Consultants, a professional engineering firm and subject matter expert on government funding, and PCK, a leading boutique intellectual property firm, to find out how you can efficiently combine your SRED/IRAP and patent application processes.

The seminar will include a discussion about the requirements for the SRED and IRAP programs, about the fundamentals of intellectual property protection, and about how the application process for each filing can be combined into a single process, allowing you to coordinate actionable tasks with relevant time periods.

Agenda:

  • Introduction to government funding (SR&ED/IRAP)
  • Introduction to fundamentals of intellectual property protection
  • Explanation of how to process SR&ED applications in parallel with patent applications
  • Case studies (Using a SR&ED technical narrative to write a patent)
  • Discussion; questions and answers

Speakers:

Gerry Fung  CPA, CMA, P.Eng.
Vice President, Business Services at NorthBridge Consulting Services Inc.
Andrew Currier  BSEE, LL.B., P.Eng.
Co-Founder and CEO of PCK | Perry + Currier Inc. | Currier + Kao LLP

Date/Time:

Thursday, December 1, 2016 from 4:00 PM to 5:30 PM (EST)

Location:

PCK
500-1300 Yonge Street
Toronto, Ontario M4T 1X3
Canada

Booking/ Registration:

Please RSVP online by December 1, 2016

 

CRA Begins Launching SR&ED Pre-Claim Review Pilot

In August 2016, the Canada Revenue Agency (CRA) began to launch the Pre-Claim Review pilot program in order to review and determine whether R&D projects that are in progress qualify for the Scientific Research and Experimental Development (SR&ED) tax credit program.

This follows the cancellation of the similar Pre-Claim Project Review service at the end of June 2016, which had provided preliminary verbal opinions regarding the SR&ED eligibility of the proposed or initiated projects.

The new free review program aims to provide certainty that eligible R&D projects will be accepted as filed while they are still in progress, when it is easier to defend the projects and before the formal claim is prepared at the end of the fiscal year. After acceptance into the pilot program, the CRA would conduct a review to evaluate the SR&ED eligibility of the scientific or technological knowledge base as well as the work being performed.

A limited number of participants will be selected as the pilot program is implemented in August, October, or November, depending on the province or territory—see the table below for more details. There are a few criteria to be met, such as having previously filed for SR&ED while meeting the basic requirements for claiming SR&ED tax incentives.

The launch of the new review service also follows the recent launch of the Pre-Claim Consultation service, which assists potential claimants in determining whether their work is eligible for SR&ED tax credits and what supporting documents they should keep before they submit a claim. These two programs are intended to increase the predictability and consistency of the SR&ED program by the CRA.

Companies that are interested in using these services can submit a completed Pre-Claim Consultation Request Form or Pre-Claim Review Request Form, or get in touch with their local SR&ED contact for more information.

Pre Claim Review Pilot Program Implementation Schedule

British Columbia August 2016
Alberta August 2016
Saskatchewan August 2016
Manitoba August 2016
Yukon August 2016
Northwest Territories August 2016
Ontario October 2016
Nunavut October 2016
Quebec November 2016
New Brunswick November 2016
Nova Scotia November 2016
Prince Edward Island November 2016
Newfoundland and Labrador November 2016

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