By Anaïs Sep 26, 2023

Make Your Technology Projects a Reality: All You Need to Know about Financing Options

Did you know that there are various grants and tax credit opportunities available to support your digital transformation? Whether you’re just starting the process or want to continue integrating digital technology into your business to shape its technological future, this is for you.

The governments of Canada and Quebec have committed substantial budgets to support business innovation. Thanks to them, you could easily reduce your costs, automate your processes or even improve your performance by differentiating yourself from your competitors.

It’s a real godsend for making your IT projects a reality! What’s more, our experts are here to help you find the financing solution best suited to your needs.

Our Experts at Your Side To Help You Obtain Your Grants

Whatever the size of your business, your objective or your area of expertise, you could certainly be eligible for financial assistance or a tax credit! Working hand in hand, our passionate experts and external partners can help you reduce your costs, smooth the path towards your digital transformation or drive your company’s technological evolution ever further through innovation. So when and how can your business take advantage of these resources to accelerate its growth?

Obtaining government financial assistance for technology projects in Quebec is an attractive opportunity for any company, but it remains a complex process that requires in-depth expertise and an understanding of the many subtleties of existing programmes, as well as compliance with the strict deadlines imposed by the programmes. That’s where we can help!

Once our sales team and technical specialists have studied your needs and defined your project, we are committed to providing you with comprehensive support in accessing these valuable subsidies. Thanks to the serious and trusting collaboration we have built up with our experienced external partners in the financial sector, we are able to scrutinise all the possibilities open to you.

”Hand in hand, we will rigorously assess the programmes for which your project may be eligible and the ways in which you can maximise your tax credits. We can quickly estimate the approximate amount of support you could receive.Our staff will then take over the task of helping you prepare the documentation required for the grant application, and will be at your side to provide precise follow-up once the application has been submitted.”
-Yanis Chetoui

In short, by working closely together in a coordinated fashion, our experts and external partners are doing everything they can to help you get the financing you need for your technology project!

Please note: Uzinakod is not dependent on your application and cannot commit to the amount of aid received. However, our partners will always do their utmost to support you in your application for funding and to ensure that your project becomes a reality. They will also provide you with tax advice and, where applicable, tips and tricks.

Technology Grants in Quebec Decoded

Which funding programmes could be the key to your technological success? Spotlight on these five grants available at the time of writing:

1. ESSOR Programme

The aim of the ESSOR programme is to stimulate the growth and innovation of Quebec businesses, as well as promoting job creation and the development of local communities. It provides funding for a variety of projects, including business expansion, infrastructure modernisation and research and development within your organisation.

With this programme, you could benefit from the support of our experts in bringing your IT investment projects to fruition. We could, for example, carry out a feasibility study or offer you a complete digital diagnosis. You could receive a contribution of up to 50% of your expenditure.

2. Pro Canadian Digital Adoption Program (CDAP)

The Canadian Digital Adoption Program (CDAP) is a government initiative designed to encourage the adoption and use of technology in Canadian SMEs. It provides financial support for the integration of digital solutions into an organisation’s day-to-day operations.

Whether you’re setting up a management system or integrating cutting-edge technologies to automate your processes or improve the performance of your machinery, you could certainly be eligible. All you have to do is submit your application and choose an accredited digital advisor to guide you through your digital transformation. You could receive a substantial grant of up to $15,000.

Please note: Unfortunately, we are not able to support you in this programme, as we are not yet on the list of accredited digital advisors for PCAN.

3. Subsidy Programme for the Manufacturing Industry

PROMPT’s Productivity Performance initiative provides funding to manufacturing companies to help them improve their productivity, efficiency and competitiveness.

Eligibility for the programme is open to all companies wishing to invest in new technologies, automate their processes, expand their production facilities, increase research and development, and carry out other initiatives aimed at strengthening the manufacturing sector. Our experts are here to help you grow and develop your best ideas!

4. Investment and Innovation Tax Credit (CIII)

The Investment and Innovation Tax Credit (CIII) is a Canadian tax scheme designed to encourage companies to invest in new technologies. In practical terms, the aim is to stimulate innovation and the competitiveness of Canadian businesses by granting them a tax credit for expenditure on innovation activities.

The tax credit rate varies according to the type of expense and the region of Canada where your business is located. It may be higher for small businesses and those located in less developed regions. Good news for Quebec businesses outside Montreal, for example. Thanks to this programme, you can earn a higher percentage of your tax credits.

To maximise the benefits of the CIII, our experienced tax partners can help you and ensure that the eligible expenses for your project are correctly identified and claimed.

Do you have a project to develop a management software package or would you like to improve your current software? Don’t wait any longer: your tax credits will be doubled for all projects started before 31 December 2023.

5. Artificial Intelligence Implementation Grant Programme

Invest AI is one of the support programmes for artificial intelligence (AI) in Canada, and applies to companies that want to adopt it in their operations. If you have a modernisation objective and want to improve your efficiency and competitiveness by benefiting from the many advantages of artificial intelligence, there are a number of interesting grants available to you.

Eligible projects could include creating custom AI solutions, automating your processes, advanced data analysis and many other AI-related initiatives. Our AI-savvy professionals will be delighted to help you boost your performance by developing or improving your products and processes.

New opportunities for grants and financial support may arise in the near future. We’ll keep an eye out and keep you informed of any emerging opportunities that could make it easier for you to continue your digital transformation. Given the changing and evolving nature of all these programmes, this article will be updated as soon as possible to provide you with the latest information on grant programmes, to help you maximise the benefits of these resources to drive growth through technology.

With innovation as our fuel, we’re much more than just an IT service provider. We’re a true strategic partner whose mission is to propel your business to new heights. With Uzinakod experts, your IT needs will always find a solution. Federal and provincial grants are opportunities not to be overlooked when it comes to financing your IT projects. A great boost to your success!

Don’t wait any longer to take the plunge and improve your business processes. Yanis, our Account Manager – Business Development and Sales, is here to guide and support you!

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