ABCtech #105 22-DEC-17 Data Visualization, More AI & 2018 Forecasts

ABCtech #105 22-DEC-17 Data Visualization, More AI & 2018 Forecasts

Data visualization – making more sense of big mounds of data. By Doug Firby.  HERE

More About AI. Digest of current articles. HERE

INFOGRAPHIC of Key Performance Indicators

Technology Forecasts for 2018

Our readers share a common interest in the social and economic impact of emerging technologies. HERE are some of the forecasts we have received for 2018.

EVENTS CALENDAR

Highlights of forthcoming ABCtech and co-hosted events in 2018. HERE 

Next event  ABCtech’s Strategic Retreat 9:30am January 27th at NAIT’s HP Centre followed by a Member’s 4:30pm Reception & AGM at the Chateau Louis Conference Centre on Kingsway. Registration opens December 27th.

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Canada’s federal and provincial governments have many programs devoted to encouraging innovation meaning that a lot of funding is accessible for R&D. One of the best of these programs is the SR&ED (Scientific Research and Experimental Development) grant Program.  This grant allows you to go back eighteen months from your latest yearend, and go forward, to claim a portion of all of the innovation costs you have incurred. This is a grant, which means that even if your business makes no profit, you will get the appropriate funding in cash.

What is the SRED Grant program

The SR&ED grant program is a great deal. “Generally, a Canadian-controlled private corporation (CCPC) in the oil / gas / energy industry can earn a grant of 35 percent up to their first $3 million of qualified expenditures for SR&ED carried out in Canada, and 20 percent on any excess amount. In addition your provincial government will increase this amount by another 6 percent for a total of 41 percent of the costs you innovation incurred Because of these generous grant rates and related R&D tax incentives, going to the trouble of preparing, or having a consultant prepare, an R&D grant application is definitely worth it!

Think that you have to have a PhD and a state-of-the-art lab to be involved in R&D? Think again. R&D activities can be integrated with your daily business activities. If you creating new technology or doing things in a unique / different way, and or, creating products / services or improving existing ones then you are likely eligible for grant funding under the SRED program. The SRED grant provides a 41% cash rebate for your R&D, prototyping, product development, innovation and testing costs. Note too that your R&D activities do not have to be successful to qualify for the SR&ED program.

Who & What Qualifies for R&D Grants

To qualify for the SR&ED program, says the CRA, “work must advance the understanding of technologies, address technological uncertainty, and incorporate a systematic investigation by qualified personnel.”  This sounds difficult and “high-falutin”, but don’t let that put you off. When planning your R&D project, you need to be sure that you’re working towards something that is truly new and not information that is not common knowledge (industry standard) at the time. The technological uncertainty is a condition of the process, just as in your high-school science class experiments. And you would, of course, perform your R&D activities in an orderly fashion and fully document your activities, just as you would with any work you perform.

You Don’t Have to be in High-Tech to be involved in R&D

These grants aren’t just for high-tech businesses; you may even already be doing something that will qualify for the SR&ED tax credits program. For instance:

• Are you in the process of developing a new product or making improvements to an existing product?
• Are you creating an improved manufacturing technique or process?
• Are you spending money to lessen the environmental impact of your manufacturing process?
• Has your business developed new software?

When thinking of R&D activities and wondering what qualifies for R&D grants, and what doesn’t, remember that “generally, R&D occurs when a business’s objective is technological advancement, development occurs in a systematic manner through the efforts of individuals who are skilled in the technologies involved and technological uncertainties are overcome.”

For More Information on the SR&ED grant program you can visit the Federal government website at:  https://www.canada.ca/en/revenue-agency/news/cra-multimedia-library/businesses-video-gallery/video-series-cra-tax-incentive-program.html  The website contains three short videos that explain the SRE4D grant and who / what is eligible.

SRED- the Government Grant for Innovation