IRAP funds for 2009 have been fully invested. The 2009 federal budget allocated $200 million over two years to the National Research Council’s Industrial Research Assistance Program (NRC-IRAP). Companies wanting to benefit from the plan may still apply now but no new funds will be allocated until after the fiscal year ends March 31, 2010.
The National Research Council’s Industrial Research Assistance Program (NRC-IRAP) helps small and medium-sized enterprises innovate by providing technical and business advice, networking services, as well as direct, non-repayable, financial assistance. This program also provides companies with support to hire recent graduates from colleges and universities for up to one year to work on innovative business strategies and technology-related projects.
Of the budgeted $200 million, $170 million was earmarked to double the program’s contributions to companies, and $30 million to help companies hire over 1,000 new post-secondary graduates, including graduates from business schools, to implement more effective business processes and strategies, and develop new innovative products and services that companies can bring to the marketplace.
The program is available to innovative for-profit companies with fewer than 500 employees. NRC-IRAP offers both advisory services and potential access to financial assistance, for more information see irap-pari.nrc-cnrc.gc.ca/
