Who Can Apply for the Innovative Solutions Canada Program?
The Innovative Solutions Canada (ISC) Program is a vital resource for Canadian small and medium-sized enterprises (SMEs) seeking funding to develop and test innovative solutions. This program is designed to foster the growth of innovations that can address specific challenges faced by government organizations. For a complete understanding of eligibility requirements, please refer to the complete program guide.
Overview of the Innovative Solutions Canada Program
The ISC Program supports Canadian SMEs by providing funding for the development of a proof of feasibility report and the construction and testing of prototypes. The program operates through competitive challenges designed to meet government needs, and it provides businesses the opportunity to retain ownership of any intellectual property developed through the process. This allows innovators to commercialize their market-ready solutions.
Eligibility Requirements
To qualify for the ISC Program, your enterprise must meet several key criteria:
For-Profit Status: Your business must operate as a for-profit entity.
Incorporation: Your business should be incorporated in Canada either federally or provincially.
Size Limit: Your enterprise must have 499 or fewer full-time equivalent (FTE) employees.
Research and Development: Activities must be conducted within Canada.
Workforce Allocation: At least 50% of your annual wages must go to employees and contractors primarily working in Canada.
Employee Location: At least 50% of FTE employees should have Canada as their ordinary place of work.
Executive Residency: At least 50% of senior executives must have Canada as their principal residence.
For complete eligibility requirements, see the complete program guide.
Application, Screening, and Evaluation
Your application process begins with a self-assessment against the Technology Readiness Level (TRL) scale, which determines the appropriate phase for your innovation:
Phase 1: Solutions at TRL 1-4 may receive funding to prove feasibility.
Phase 2: Solutions at TRL 5-9 may be eligible for prototype development and testing.
The full application process is outlined in the complete program guide.
Conclusion
The Innovative Solutions Canada Program offers significant opportunities for SMEs to advance their innovative projects. By meeting the eligibility criteria and understanding the program's requirements, your business can secure funding to develop impactful solutions. For more detailed information on eligibility and application procedures, consult the complete program guide.
