R&D tax credits and innovation funding
Businesses doing real research and development have two tax credits and one direct program to look at: the federal SR&ED credit, Quebec's CRIC, and NRC IRAP contributions for technology projects. Quebec's C3i credit also covers computer equipment and management software. The tax credits pay after the spending, so the business carries the cost first.
Start an applicationWho this is for
- Corporations doing scientific research or experimental development in Canada
- Quebec businesses with R&D and pre-commercialization spending
- Incorporated tech firms with up to 500 employees developing technology-driven products
- Quebec businesses investing in production equipment, computers or management software
The programs
Type and status come from each program's official page, checked on 8 October 2026.
Two changes matter in 2026. Federally, Bill C-15 raised the SR&ED expenditure limit to $6 million for tax years beginning after 15 December 2024. In Quebec, the CRIC replaced the old R&D salary credit for tax years beginning after 25 March 2025.
These are for businesses that actually do R&D. CRA warns businesses to be wary of anyone who tries to convince them to file a claim when they are not actively doing R&D work.
| Program | Type | Status | Checked |
|---|---|---|---|
| SR&ED tax credit | Tax credit | Continuous intake | 8 October 2026 |
| NRC IRAP | Grant (non-repayable contribution) | Continuous intake | 8 October 2026 |
| C3i tax credit | Tax credit | Open | 8 October 2026 |
| CRIC tax credit | Tax credit | Open | 8 October 2026 |
- SR&ED tax credit (Scientific Research and Experimental Development)
- NRC IRAP (Industrial Research Assistance Program)
- Investment and innovation tax credit (C3i)
- Quebec tax credit for research, innovation and commercialization (CRIC)
The financing that covers the gap
The R&D gap is about time. Researchers and materials are paid through the year; a tax credit is claimed after year-end and paid after the claim is processed.
A line of credit is the usual way to carry it. A bridge loan can suit a known amount over a known period. Voxen assesses either on the business's revenue and statements; an expected refund is not taken as security, and Voxen does not prepare claims.
The Voxen products that fit this program. Ranges are the ones on each product page; every file is assessed on the business's revenue and bank statements.
| Financing | Range | What it covers here |
|---|---|---|
| Line of Credit | Credit Limit: $10,000 – $1,000,000 | Working capital while you wait for a reimbursement or a refund. Draw what the project needs, pay it down when the money arrives. |
| Bridge Loan | Loan Amount: $30,000 – $5,000,000 | A short loan for a defined gap, when you know where the money that repays it will come from. |
| Term Loan | Loan Amount: $10,000 – $2,000,000 | Your share of a larger project, repaid in fixed instalments over several years. |
Not sure which program fits? Ask us
Tell us about the project and we will tell you which programs are worth a look and what financing could carry your share. Voxen does not prepare grant applications; if you want help with one, we can point you to specialists who do that work.
Notice
Voxen Capital is a private financing broker, not a government body. It does not decide, influence or guarantee any grant, credit or government loan, and it does not prepare grant applications. Program details change: check the official page before you apply.
Frequently asked questions
What replaced Quebec's R&D salary tax credit?
The CRIC, for tax years beginning after 25 March 2025. It pays 30% on qualifying spending above an exclusion threshold, up to $1 million of that spending, then 20%.
What is the SR&ED expenditure limit now?
$6 million, for tax years beginning after 15 December 2024, up from $3 million.
Should my business claim SR&ED if we do not do R&D?
No. CRA warns about people who push claims on businesses that are not actively doing R&D, and the claimant is legally responsible for the claim.