Financial Support April 21st, 2020

Understanding the COVID-19 NRC IRAP Innovation Assistance Program

Starting on April 22, 2020 at 7 am EDT / 4 am PDT small and medium-sized Canadian businesses unable to secure funding under the Canada Emergency Wage Subsidy and the Business Credit Availability Program can apply for financial assistance.

How much support will be given?

IRAP IAP provides a wage subsidy to eligible employers for up to 12 weeks.

Who can apply?

Your company must meet the following to be eligible:

  • Plan to pursue growth and profit by developing and commercializing innovative, technology-driven new or improved products, services or processes in Canada
  • Lack sufficient financial resources to sustain operations during the COVID-19 downturn period
  • Be ineligible for the Canada Emergency Wage Subsidy
  • Be an incorporated, profit-oriented small or medium-sized business in Canada
  • Be a company with 500 or fewer full-time equivalent employees
  • Have a Canada Revenue Agency business number
  • Be incorporated by no later than March 1, 2020

How do I apply?

Apply at https://nrc.canada.ca today.

The call for applications will close Wednesday, April 29, 2020 at 11:59 pm EDT.

Contributor

COVID Continuity Team Read More
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