How to Apply to the Innovative Solutions Canada Program: A Complete Guide

The Innovative Solutions Canada Program (ISC) offers a remarkable opportunity for Canadian small and medium-sized enterprises (SMEs) to receive funding for developing and testing innovative solutions. This federal initiative supports the development of early-stage innovations and late-stage prototypes that address specific challenges faced by government organizations. Through ISC, businesses can retain ownership of their intellectual property while accessing substantial funding to bring their innovations to market readiness.

Overview of the Innovative Solutions Canada Program

The ISC Program encourages SMEs to tackle government challenges through innovation. It provides funding across two phases: Phase 1 focuses on proving feasibility, and Phase 2 allows for the development and testing of prototypes. Successful applicants can potentially secure up to $150,000 in Phase 1 and up to $1 million in Phase 2, with opportunities to extend funding under specific conditions.

Eligibility Requirements

To apply for the ISC Program, your business must meet the following criteria:

• Operate as a for-profit entity

• Be incorporated in Canada (either federally or provincially)

• Have 499 or fewer full-time equivalent (FTE) employees

• Conduct R&D activities within Canada

• Allocate 50% or more of annual wages to Canadian employees and contractors

• Ensure 50% or more of FTE employees have Canada as their primary place of work

• Maintain that 50% or more of senior executives reside in Canada

Required Documents

Prepare the following documents before you apply:

• Proof of Canadian incorporation

• Financial statements demonstrating R&D expenditures

• Employee data supporting FTE and residency requirements

• A detailed project proposal outlining your innovation's feasibility and potential

Step-by-Step Application Process

Step 1: Self-Assessment

Begin by evaluating your technology's readiness using the Technology Readiness Levels (TRL) scale:

• TRL 1-4 qualifies you for Phase 1

• TRL 5-9 qualifies you for Phase 2

Step 2: Prepare Your Proposal

Develop a comprehensive proposal that addresses:

• Technical feasibility

• Commercial potential

• Alignment with government needs

Step 3: Submit Your Application

Submit your application through the ISC online portal. Ensure all sections are complete and provide all necessary documentation.

Step 4: Evaluation and Screening

Your application will undergo a rigorous screening process based on technical and commercial merits. Be prepared for potential interviews or additional information requests.

Application Timeline

• Phase 1 Applications: Rolling basis, with decisions typically made within 6 months

• Phase 2 Applications: Follow successful completion of Phase 1, with similar timelines

Tips for a Successful Application

• Highlight the unique value proposition of your innovation

• Provide clear, concise, and well-supported arguments

• Ensure all documentation is accurate and comprehensive

Common Mistakes to Avoid

• Submitting incomplete applications

• Failing to address specific government challenges

• Overlooking eligibility criteria

What Happens After You Apply

Once your proposal is submitted:

• You will receive confirmation of receipt

• Evaluations will take place

• Successful applicants will be notified and proceed to contract negotiation

Conclusion

Applying to the Innovative Solutions Canada Program can unlock significant opportunities for your business to innovate and grow. By following this guide, you can navigate the application process with confidence and increase your chances of securing valuable funding.