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Canada: Subsidy program for innovative businesses (COVID-19)

Canada: Subsidy program for innovative businesses

Certain innovative businesses in Canada can still apply for financial assistance being made available in response to the coronavirus (COVID-19) pandemic.

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The application period is open until 29 April 2020.

Small and medium-sized Canadian employers pursuing technology‑driven innovation need to consider whether they may be eligible for a temporary 12-week wage subsidy under a new “innovation assistance program” available through the industrial research assistance program—intended to support innovative firms that do not yet have revenue or are in the early stages of development and may not qualify for other government support.

Employers that are innovative businesses need to determine whether they qualify for this subsidy and consider making an online application for this program before the deadline ends this week. Payments to successful applicants will begin the week of 11 May 2020.

Read an April 2020 report prepared by the KPMG member firm in Canada

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