Icon: RSS Icon: Email Icon: Twitter Icon: Facebook Icon: Linked In Icon: YouTube Icon: Leaf

Public funding: R&D is not the end game

Posted on February 27 2012 | Author: John Pickard

Had I only known when I was planning my last entrepreneurial venture about the extent of public funding that was available for start-ups. God bless the federal, provincial and municipal governments that have dug deep and provided grants and loans to enable companies to clear some technology hurdles or develop a prototype to test their technology in the real world.

There is no end to the programs offered by IRAP, SR&ED, or NRC, most of which are geared toward early stages of technology. These programs seek to answer the unanswered questions about how something might work…or how it might not. All very much needed, I would say. However, the real sweat comes when the innovator knows that the technology does work and has application to solve real world problems. That is when the public funding dries up.

Acme Inc. has already spent 4 years validating their technology, developing a brand, and courting customers. Maybe they already have a production facility, are revenue positive, and are looking to expand their market. That is precisely where the dollar crunch comes. The government funds don’t apply, angel money is not enough, venture capital is non-existent, and it’s too early for private equity. Oh, and need I mention, banks are not in the risk business by the way. The company dies on the vine because no one wants to fund that emerging stage.

It’s time for government funding programs to trim their funding of “wish-list” concepts, technologies and companies and devote some of that trimming to invest in ventures that have made the grade.

A great example is Ontario’s Emerging Technology Fund (OEFT) that “matches” private investment on a dollar for dollar basis. The government enters and exits on the same terms as the private investor. Canadian business needs more of this kind of thinking… government dollars following private investors, dollars following technologies and businesses that are beyond R&D and into real business.

Promoting R&D is great, but investing in real companies with real technology and real customers is the end game.

John Pickard
Entrepreneur in Residence, Bioenterprise
 






Email this page to a friend
Comment

Receive Money Back when You Apply for the CETC tax!

Posted on February 06 2012 | Author: Admin

Oh the joys of the hiring process! I’m sure managers must jump at the opportunity to hire a new employee, because who wouldn’t want to read piles and piles of cover letters and resumes, or sit through endless hours of interviews, sounds appealing doesn’t it?

If you are one of these managers who dislike the burden of recruiting new employees, you should definitely consider hiring a co-op. University or college institutions typically set up the hiring process, which means your work is cut in half. All you need to do is provide a concise job description and decide what degree programs you feel will adequately qualify for the demands of the position. This will help to filter out the types, and amount, of students who apply to the jobs, ultimately simplifying the hiring process. Now just sit back, and wait for the applications! Institutions will also assist in securing time slots for the interview process, according to your convenience.

Seems pretty simple now, right?

‘CHA CHINGGGG!,’ there goes that sound in the back of your mind…will you be able to afford the costs of hiring a new employee? Have no fear, the Co-operative Education Tax Credit (CETC) is here... if you a hire a co-op student, that is.

The Ontario Ministry of Revenue has introduced the CETC, which benefits employers who hire students enrolled in a co-operative education program at post-secondary institutions across Ontario. Simply put, you can receive up to $3000 in tax credits!

Is hiring a co-op student sounding better to you yet?... Still not convinced?

In addition to our eagerness to learn and apply our academics to the real world, co-op students may choose to recognize your company as an ‘outstanding employer.’ This could grant you the opportunity to win awards such as “Co-op Employer of the Year” (depending on the institution). I’m sure Bioenterprise Corporation can definitely vouch for truth in this statement, as recipient of this award in 2010 from the University of Guelph.

Start contacting post-secondary institutions near you, to see if your organization can benefit from this great opportunity, and be amazed by our student potential!

Christina Lippa
Marketing and Communications Assistant, Bioenterprise



 






Email this page to a friend
Comment

Search

 

 

Select an Author...

Admin | Alexander Lazier | Alexandra Coccari | Britney Hess | Carolyn Dowling | Crystal Sarantoulias | Dave Smardon | Doug Knox | Emily Hartwig | Ingrid Fung | Jennifer Kalanda | Jessica Bowes | Jessica Taylor | Johanna Simco | John Pickard | Kelly Laidlaw | Laura Millson | Mary Dimou | Michelle Kienitz | Poonam Patel | Rattan Gill | Sophie Wotten | Tom Dowler | Victoria Lennox

Select a Topic...

BusinessHacks | Entrepreneur | Innovation | Investor

Archives

August 2017 | July 2017 | June 2017 | May 2017 | April 2017 | March 2017 | February 2017 | January 2017 | December 2016 | November 2016 | October 2016 | September 2016 | August 2016 | July 2016 | June 2016 | May 2016 | April 2016 | March 2016 | February 2016 | January 2016 | December 2015 | November 2015 | October 2015 | September 2015 | August 2015 | July 2015 | June 2015 | May 2015 | April 2015 | March 2015 | February 2015 | January 2015 | December 2014 | November 2014 | October 2014 | September 2014 | August 2014 | July 2014 | June 2014 | May 2014 | April 2014 | March 2014 | February 2014 | January 2014 | December 2013 | November 2013 | October 2013 | September 2013 | August 2013 | July 2013 | June 2013 | May 2013 | April 2013 | March 2013 | February 2013 | January 2013 | December 2012 | November 2012 | October 2012 | September 2012 | August 2012 | July 2012 | June 2012 | May 2012 | April 2012 | March 2012 | February 2012 | January 2012 | November 2011 | October 2011 | September 2011 | August 2011

Main Body Footer