Incentives for Tech & ICT

Continuously backed by strong government support, these dedicated incentives have contributed to exponentially growing the sector.

Research & Development

  • Delivered by a network of more than 400 professionals located in more than 100 communities across Canada, the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) supports the needs of SMEs engaged in innovative or technology-driven activities. It provides a suite of advisory services, networking and linkages as well as non-repayable financial assistance.
  • The Scientific Research and Experimental Development (SR&ED) program is a federal tax incentive encouraging R&D in Canada. Qualifying non-Canadian companies are eligible to receive tax credits of 15 per cent of qualified expenditures, while Canadian companies receive enhanced credits. Qualifying Canadian and non-Canadian corporations that conduct R&D in BC can also benefit from a 10 per cent provincial tax credit.

 

Venture Capital

  • The BC government offers tax credits of 30 per cent for qualified resident investors who provide venture capital to small businesses conducting R&D on proprietary technologies and developing interactive digital media products. Investment must be made through a venture capital corporation or directly to an eligible business corporation.
  • BC Tech Fund. The Province of British Columbia has recently announced a $100-million venture capital fund to help promising local tech companies by creating an avenue for capital funding, enabling them to take the next step towards joining the ranks of other job-creating tech companies.

 

“Built-in” Incentives

Vancouver’s liveability factor — Consistently ranked among the world’s most livable cities, Vancouver is known for its striking natural beauty. Today, however, those who choose to build their careers here are drawn by much more, including the live/work/play dynamic in Vancouver’s downtown core. It’s fostering a happier, more creative and more productive workforce. Less commute time also means more time for recreation, which matters when there’s ready access to mountains, ocean, green space, yoga and fitness centres. In short, Vancouver’s leading the way — showing other cities across Canada and the globe that downtown living and working offers the best of all worlds.