Research and development
The consumer's appetite for new and improved offerings is constant. Innovating can help you meet those needs and gain an edge over your competitor's products or services. By investing in research and development, your business could achieve greater profits down the road.
R&D involves finding out what the market wants, then designing, prototyping, testing, and producing the final product or service.
Whether you are on your own or have a dedicated R&D team, there are a number of activities you may need to do if you undertake this kind of project. You may need to:
- Do your own research or get outside assistance
- Meet performance or safety standards and regulations for controlled or restricted products
- Implement new technologies to produce your products or deliver services
- Protect your ideas
Take advantage of resources that may help you.
- Scientific Research and Experimental Development Tax Incentive Program
You can get a tax credit, if you spend money on industrial R&D in Canada.
- Industry Partnership Programs
You could get help with your Canadian research and development projects in natural sciences or engineering from colleges and universities in Canada.
- Industrial Research Assistance Program
Your small or medium-sized business may qualify for financial assistance to develop, adopt, adapt and/or commercialize new or improved technologies.
- Industrial R&D Fellowships Program
You could get help to hire a PhD graduate to work on a research project in natural sciences or engineering for your business for 2 years.
- Collaborative Research and Development Grants
You could get a university to help you with your research project in natural sciences or engineering if you contribute half the costs of the project.
- Conducting market research
Learn more about market research, how it can improve your business decisions, and how to conduct a market research campaign.
- InnovationScan — Showcase your company
If you have a growth-oriented business looking for connections and partnerships in the United States, you could showcase your business on this platform.
- Western Research Park
Get help developing and commercializing your innovative product or service by partnering with the University of Western Ontario's Research Park.
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