Under the current global and economic conditions, leveraging multiple government funding sources is critical for business survival. Various federal and provincial programs can be combined or “stacked” to maximize funding, as long as costs are separated and the criteria for each program are being met. In addition, Canadian technology companies that are developing innovative solutions to help fight COVID-19 can currently access various federal and provincial funding programs to support these R&D initiatives. To follow are some programs that the federal government is currently supporting:

Canada Emergency Wage Subsidy (CEWS)75% wage subsidy for up to 12 weeks (Retroactive from March 15, 2020, to June 6, 2020) Starting April 27, 2020 Enable Canadian businesses to re-hire workers that were laid off as a result of COVID-19, prevent further job losses, and resume normal operations following the crisis.
Temporary Wages Subsidy Program10% wage subsidy up to $1,375 per employee (and $25,000 per employer) March 18, 2020, to June 19, 2020 Allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA).
EDC and BDC loans- under the Business Credit Availability Program (BCAP) VariedOngoingHelp Canadian businesses obtain financing during the current period of significant uncertainty.
Canada Emergency Commercial Rent Assistance (CECRA) 75% Rent reduction Applicable from April through June Lower rent for small businesses that have been affected by COVID-19.
Innovative Solutions Canada – Challenge Stream COVID-19 VariedIndefiniteDevelop new solutions from an early stage of development to combat COVID-19 and other similar threats.
Innovative Solutions Canada – Testing Stream COVID-19 (formerly Build in Canada Innovation Program)$550K/$5MCall for Proposals in Spring-Summer 2020. To find and buy pre-commercial prototypes that are ready for deployment and tested to combat COVID-19 and similar threats in operational settings.
NRC IRAP Innovation Assistance Program (IAP)Wage subsidy for up to 12 weeks April 29, 2020 Support for SMEs pursuing technology-driven innovation who have been unable to secure funding under the Canada Emergency Wage Subsidy (CEWS)
NSERC Alliance COVID-19 grants$50K for one yearJune 1, 2020Stimulate academic, public, and industry collaborations addressing pandemic-related research and technical challenges.
NGEN SARS-CoV-2 Challenge: Disinfection Robots Up to $1M per project  April 30, 2020 Support member companies developing made-in-Canada technology solutions that would support large scale disinfection of spaces and surfaces
Biotalent Canada  – The Student Work Placement Program (SWPP) Up to $7K in co-op wage subsidies March 2021 Support employer and post-secondary institutions to hire students during COVID-19. 
Mitacs internship funding Up to $11,250 per internshipN/AFor each Mitacs internship unit (graduate student or postdoc), the industry partner is required to put in $3750 + HST cash, and Mitacs will provide the remaining $11,250 per unit for the $15,000 total. 
SR&ED Tax CreditsUp to a 35% of eligible costs in refundable tax credits, plus additional provincial tax credits18 months after fiscal year-end Provide tax credit incentives and refunds for companies that perform Research and Development in Canada.

Additional Sources of Funding for Startups

Additional sources of funding are currently available for Canadian startups through various competitions and programs, including:

FundingAmountApplication DeadlineObjective
AC Jumpstart – Ontario COVID-19 Support and Recovery Cohort$30K seed funding & $10K in-kind contribution April 28, 2020Support Southern Ontario-based companies working on COVID-19 solutions
Fierce Founders Intensive Track – Matching seed fund from the Federal Economic Development Agency of Southern Ontario. $50KSeptember 14, 2020Help female-founded companies to build a growth plan to scale faster. The strongest growth plans will qualify to receive matching seed from the Federal Economic Development Agency of Southern Ontario.
ONterpreneurs (Ontario Neurotech Entrepreneurs) $50KMay 1, 2020Catalyze early-stage entrepreneurs to commercialize brain-related technologies.
The Spinal Cord Rehab Innovation  $50-100KJune 11, 2020Fund new tools to measure rehabilitation activities and their impact on function in individuals living with spinal cord injury (SCI).
Lion’s Lair – Pitch competition (Innovation Factory)  Various prizesMay 17, 2020Select 16 finalists to receive prizes, training, coaching & business advisory.

If you have any questions about how different funding sources can be combined to support various business demands during these challenging times, CONTACT US for a free, no-obligation consultation.