Government
Support
of innovation and
entrepreneurship
How the Canadian Government Helps Start-ups
The Canadian government helps up-and-coming start-ups with a variety of programs on both the national and local levels. Over the past decade, it has developed tax incentives, loans, grants, wage subsidies, and even offered visas to qualifying immigrants who want to plant their start-up on Canadian soil.
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Innovative landscapes and businesses have developed considerably over the past years in Canada. Business immigration has become a key component of Canada’s immigration system, attracting investment in start-ups. To develop new projects in Canada, an immigration program, Start-Up Visa, was launched.
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Innovation, Science and Economic Development Canada works with Canadians in all areas of the economy and all parts of the country to improve conditions for investment; enhance Canada’s innovation performance; increase Canada’s share of global trade; and build a fair, efficient, and competitive marketplace. There are currently over 30 programs and initiatives
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There are also many different government business grants available for start-up companies. With options including refundable tax credits to cover your research and development costs and grants that allow you to hire fresh talent, the Canadian government has multiple federal programs and provincial grants designed to spur innovation.
SUPPORT
Taxes
A variety of local tax breaks,
credits and refunds incentivize the start-up culture. Perhaps the most well-known is the Scientific
Research and Experimental
Development Tax Credit, which
provides tax credits
to businesses that engage in
research and development.
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Grants
A qualifying start-up can apply for one of Canada’s many business grants. For example, the Applied Research and Development Grant offers up to $150,000 to a business willing to partner with an eligible Canadian college to work on new clean technologies.
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Wage Subsidies
Canada may even help entrepreneurs pay for new employees: any local programs will subsidize or even cover the hiring of students, recent college grads, or even apprentices.
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Loans
The Canadian government offers dozens of different loans of various amounts, some interest-free, to make funding more accessible for start-ups across Canada.
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Start-Up Visa
It’s possible to earn a visa in Canada if an entrepreneur plans to create a start-up in the country.
Candidates need to show they are serious by meeting strict requirements, but if they do, Canada welcomes them (and their start-up gumption) with open arms. More...
