Fundraising

Non-Dilutive Funding in Canada

Grants, tax credits, and repayable loans available to Canadian founders - capital that doesn’t cost you equity. These programs are designed to be stacked.

The strategy is stacking. Most Canadian founders can combine several of these programs at once. Start with SR&ED and IRAP; they typically offer the highest return for the effort.

Type

Revenue

Sector

Region

Showing 34 of 34 programs

Program

Type

Amount / Benefit

Revenue Req.

Region

Canada Revenue Agency

The highest-impact non-dilutive program in Canada. No revenue or time-in-business requirement - you can claim from day one. CCPCs get a refundable cash credit, meaning you don't need to be profitable. Applies to any R&D spend (salaries, contractors, materials). Bill C-15 (March 2026) doubled the expenditure limit to $6M. Stacks with provincial credits.

35% refundable (CCPCs)

Ontario Innovation Tax Credit (OITC)

Ontario Ministry of Finance

No revenue or time-in-business requirement. Must have a permanent establishment in Ontario and file a federal SR&ED claim. Stacks on top of federal SR&ED - combined rate up to 43% for Ontario CCPCs. Phases out once taxable income exceeds $800K or taxable capital exceeds $25M.

BC Innovation Tax Credit (BCITC)

BC Ministry of Finance

No revenue or time-in-business requirement. Must be a CCPC with a permanent establishment in BC. Stacks with federal SR&ED - combined rate up to ~45%. Phases out when taxable capital exceeds $15M.

British Columbia

New in 2025, replacing the prior Québec SR&ED credit. No revenue requirement, but a minimum $50K+ expenditure threshold applies before the credit kicks in. Must operate and conduct R&D in Québec. Combined with federal SR&ED, total return can exceed 55%. 30% rate applies to incremental spending above your prior-year average.

20–30% refundable

Innovation Employment Grant (IEG)

Government of Alberta

No revenue or time-in-business requirement - explicitly designed for companies not yet profitable. R&D must qualify under federal SR&ED criteria and take place in Alberta. Enhanced 20% rate applies to spending above your prior-year average. Ineligible once taxable capital exceeds $50M. Stacks with federal SR&ED.

8% base / 20% incremental

National Research Council

No revenue requirement - pre-revenue startups can apply. Must be incorporated with ≤500 employees. Access is through NRC Industrial Technology Advisors (ITAs) - relationship-based, not an open online portal. Reimburses up to 80% of eligible salary costs and 50% of contractor costs. New AI and Clean Tech streams added in 2025–26.

Mitacs Accelerate

No revenue requirement. Must be incorporated - sole proprietors are ineligible. Requires a Canadian university or college academic partner. Company contributes $7.5K, Mitacs matches it - $15K total per 4–6 month unit. Stack multiple units. Accelerate Entrepreneur stream available for incubator-housed founders with no cash match required.

$7.5K per unit (matched)

NSERC Alliance Advantage

Company must earn revenue from sales - primarily government-funded organizations are ineligible. Must have ≥2 FTE employees and be federally or provincially incorporated. The academic researcher applies, not the company. Rolling intake. NSERC matches your cash contribution 2:1. IP rights can be structured in the company's favour.

$100K – $650K / year

Global Affairs Canada

Minimum $300K in Canadian annual revenue required (raised from $100K for 2026–27). Must have 3–500 FTEs and a completed tax reporting year. Must be pursuing a new export market where you don't yet have significant sales. Covers 50% of costs - market research, trade shows, foreign regulatory approvals.

Strategic Innovation Fund (SIF)

SIF is now closed to new applications - replaced by the Strategic Response Fund (SRF). Minimum $20M in total project costs makes this relevant only for growth-stage companies or large industry consortia. Focus sectors: advanced manufacturing, clean tech, life sciences, aerospace, critical minerals.

$10M+ per project

Scale AI Acceleration

Scale AI Cluster

No revenue requirement. Must focus on AI applied to supply chains or value chains. A collaborative consortium is required - must include at least one SME with <500 employees. Companies must join Scale AI upon receiving an award. Core project funding requires 60%+ private cost share.

Up to $50K (early) / $1M–$5M

NGen Advanced Manufacturing

Next Generation Manufacturing Canada

No revenue requirement. The Supercluster Projects stream is currently on hold - the active stream is Advanced Manufacturing Technology Projects (AMTP) for projects $1.5M–$8M. Requires a consortium of ≥2 unassociated Canadian partners, at least one being an SME (<500 employees). Manufacturing sector focus.

Up to 40% of project costs

OCI Ready 4 Market

Ontario Centre of Innovation

No revenue requirement, but must have raised less than $1M in third-party capital. Must be incorporated ≤5 years and based in Ontario. IP must originate from an Ontario academic institution (university, college, or research hospital). Private co-investment required alongside OCI funding.

Innovate BC - Ignite

No revenue requirement. Must be a BC-based company partnering with a BC-based academic institution. Technology must be at TRL 3+. Requires 2:1 matching funds from other sources. Natural resources, applied science, and engineering focus. Next intake anticipated mid-2026.

Up to $300K (30% of costs)

British Columbia

Innovate BC - Go-To-Market Microgrant

No minimum revenue, but must have a product in market or ready to sell. Must be a for-profit company incorporated and headquartered in BC. Program operates on intake windows - currently closed, watch for next opening.

British Columbia

Investissement Québec - ESSOR

Investissement Québec

Eligibility varies by component. Feasibility studies (1A) and digital diagnostics (1B) have no stated revenue minimum. Digital transformation implementation (1C) requires $2.5M+ in revenue and ≤250 employees. All streams require at least 40% of revenue from non-government sources. Must be operating in Québec.

Up to $50K per stream

Alberta Innovates - Voucher

Alberta Innovates

No minimum revenue (max <$50M annual gross revenue). Must be an Alberta-incorporated for-profit company with <500 employees and significant physical presence in Alberta. Requires a 25% cash co-investment. Technology must be novel and patentable. No deadline - continuous intake. Micro Voucher (up to $10K) also available.

Up to $100K (continuous)

UCeed Micro-Grant (Cenovus-Funded)

Cenovus Energy-funded micro-grant delivered by UCeed for Alberta-based early-stage founders. Sector-agnostic and designed for the earliest stages of building. No revenue requirement. Many recipients go on to receive investment through UCeed Funds across Social Impact, Health, and Deep Tech.

Emissions Reduction Alberta (ERA)

No revenue or time-in-business requirement. Open to companies, universities, municipalities, and non-profits. Applicants don't need to be based in Alberta, but projects must target measurable GHG reductions in Alberta. Cleantech and emissions-reduction sector only - not a general innovation grant. Competitive call-based intake.

No minimum revenue. Must have ≥5 full-time employees and be located in Southern Ontario. Interest-free repayable contributions - not a grant. Priority on AI, advanced manufacturing, and clean tech. Continuous intake.

$125K – $10M (interest-free)

ACOA REGI - BSP

No minimum revenue or time-in-business requirement. Atlantic Canada only (NB, NS, PEI, NL). Conditionally repayable - interest-free with a 1-year grace period, then 5-year equal monthly repayment. No collateral required, no early-repayment penalty.

Varies (interest-free)

PrairiesCan BSP

Must have been operating in Canada for at least 2 years - a hard gate for early-stage companies. No hard revenue minimum, but 20%+ year-over-year revenue growth is prioritized. Prairie provinces only (AB, SK, MB). Minimum $200K project size. 50% private cost share required. Interest-free with 1-year grace period and 5-year repayment.

$200K – $5M (interest-free)

BDC Start-up Loan

Business Development Bank of Canada

Must be generating revenue and have been in operation for at least 12 months - pre-revenue companies do not qualify. Good personal credit history required. Repayable loan with flexible repayment tied to cash flow and up to 12-month principal deferral. Sector-agnostic.

CSA STDP - Small Business Stream (AO 10.2)

Canadian Space Agency

Restricted to companies with ≤50 employees - the defining eligibility gate. No revenue requirement. CSA covers 75% of eligible costs; applicant contributes 25%. Projects must target TRL 5 or 6 at completion. Academic institutions are excluded. Maximum 2 projects per applicant across all STDP streams. Applications open March 2026.

CSA STDP - Advanced Technologies (AO 10.1)

Canadian Space Agency

No employee cap, no revenue requirement. For-profit and not-for-profit organizations incorporated in Canada. CSA covers 75% of eligible costs; applicant contributes 25%. Projects must target TRL 5 or 6 at completion. Academic institutions excluded. Applications open March 2026.

CSA STDP - Next Wave Technologies (AO 10.3)

Canadian Space Agency

Earlier-stage than AO 10.1 - projects must target TRL 3 or 4. No employee cap, no revenue requirement. For-profit and not-for-profit organizations in Canada; academic institutions excluded. 75% CSA / 25% applicant cost share. Applications open March 2026.

IDEaS - Competitive Projects

Department of National Defence

100% of admissible costs covered - no cost share required. Open to individuals, companies of any size, academia, and not-for-profits. No revenue requirement, no employee cap. Projects must address an active DND/CAF challenge topic. Delivered in phases (Phase 1 up to $225K, Phase 2 up to $750K, Phase 3 up to $5.775M). Rolling challenges posted year-round.

IDEaS - Launch the North

Department of National Defence

Contest-style funding for Canadian sovereign space launch. $105M total over 3 fiscal years. Round 1 complete (3 winners at $8.3M each). Future rounds expected in FY 2026-27 and 2027-28. Open to Canadian for-profit companies, not-for-profits, and universities. Target: light-lift launch vehicles and supporting technologies for launches from Canadian soil.

$8.3M (Round 1) / $40M/year (subsequent rounds)

NRC IRAP - Defence Industry Assist

National Research Council

No revenue requirement. Must be an incorporated Canadian for-profit SME with ≤500 employees. Explicitly targets dual-use technologies with civilian and military applications. Part of a $244.2M investment announced January 2026. Accessed through an NRC Industrial Technology Advisor (ITA) - relationship-based, not an open online portal.

ISED - Industrial Technologies Office

No revenue minimum, no employee cap. Aerospace, space, defence, and security sector only. Repayable over 15 years starting 2 years after project end - structured as conditional repayment tied to gross revenues. Must demonstrate financial capacity to complete the project and repay. Applications accepted year-round.

~40% of eligible project costs

Regional Defence Investment Initiative (RDII)

Regional Development Agencies

Must be incorporated and operating in Canada for at least 3 years with ≥5 full-time employees. $357.7M total across Canada's six regional development agencies. Delivered by FedDev Ontario, ACOA, CED Québec, PrairiesCan, PacifiCan, CanNor - apply to the agency for your region. Eligible sectors: AI, cybersecurity, quantum, space, sensors, aerospace, autonomous systems, shipbuilding, and critical minerals. Repayable for businesses; non-repayable for not-for-profits.

Up to 75% of project costs

No revenue requirement. Open to for-profit tech companies incorporated in any NATO member state - Canada qualifies. Phase 1 (Accelerator): €100K plus access to 16 accelerator sites and 200+ test centres. Phase 2 (Portfolio): up to an additional €300K for top performers. Focus areas: AI, quantum, space, biotech, autonomy, communications, advanced materials, energy, undersea, and advanced manufacturing. 2026 cohort already selected; next open call expected late 2026 for the 2027 cohort.

Up to €400K (~CAD $650K)

Innovative Solutions Canada (ISC)

No revenue requirement. Targeted at Canadian SMEs. Phase 1 (Proof of Concept): up to $150K over 6 months. Phase 2 (Prototype): up to $2M over 2 years. Must respond to a specific posted government challenge. Note: program budget was cut by $70M/year from 2025-26 onward - fewer challenges are being posted than in prior years.

Up to $150K (Ph.1) / $2M (Ph.2)

EDC Export Guarantee Program

Export Development Canada

No stated revenue minimum, but assessed case-by-case. Must have active or imminent international sales and an existing relationship with a Canadian financial institution participating in the EDC program. EDC backs your bank line of credit - enabling more working capital for international expansion without giving up equity.

Guarantees up to US$25M

Program details, amounts, and eligibility thresholds change regularly. Data compiled from public sources including program websites and government budget documents. Last updated March 2026. Know a program that should be here? Let me know.