Today, the National Research Council of Canada (NRC) and BDC, the bank for Canadian entrepreneurs, are pleased to announce the signing of a new memorandum of understanding to launch their new partnership-a unique opportunity to increase support for Canada’s innovation ecosystem. The partnership is designed to accelerate the research and development projects of Canadian small and medium-sized businesses through technical and business innovation advice, financial assistance and industry connections.
Through this new partnership, the National Research Centre of Canada Industrial Research Assistance Program (NRC IRAP) and BDC are better aligning their service offerings so innovative Canadian companies can more easily access BDC financing, helping them to take their ideas to the next level. It will also foster cross-referrals between BDC and NRC IRAP to further support Canadian technology SMEs that are highly innovative, ambitious and ready for growth.
Features and eligibility criteria
- Companies in the information and communication technology sector (ICT) or other related technology sectors
- Must be an active NRC IRAP client who is currently receiving or will receive funding. Available to new and existing BDC clients
- Minimum sales of $500,000 as of the most recent year-end
- Following a due diligence and credit approval process, companies will benefit from exclusive financing conditions from BDC. Loan amounts will start at $100,000