June 9, 2020

CATA Memo – Save Canada’s Way of Life. Funding for science and technology centric businesses. #economy

Original Article

ASK –  Don’t abandon Canada’s future. Protect one of Canada’s best opportunities for financial recovery. Implement the Canadian Advanced Technology Alliance Resilience and Rebound Emergency Fund to save 13,000 science and research based small and medium businesses and millions of jobs. 

Technology – Canada’s post COVID19 economy catalyst. Advanced technologies and ICT sectors were outpacing the economy and jobs growth at almost twice the national average. Demand for future economy products and services, science, research and technology talent and their innovations will continue.

We could lose our financial catalysts in tech, the drivers of the economy without immediate action.  Only 18% of technology company owners surveyed were confident the existing funding is accessible and enough for business survival. Large US firms are targeting Canadian talent and companies to fund their own prosperity. #HistoryDoesntHaveToRepeat #LostForever

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Be part of the next big thing 

The world is moving into a digital transformation, in part boosted by COVID19.  Artificial intelligence and smart cities will lead the way. We are already seeing education, cloud, remote, medical and health technologies and financial technologies thriving in the pandemic.

Canada has the technology and talent to continue as world class tech leaders in the future, if we can keep our technology entrepreneurs and innovators connected with their businesses now. The good news is most of this work can be done from home during social distancing. We can work on Canada’s comeback and future balance sheet recovery today. 

ABOUT the CATA RR Fund & Alternative Eligibility Formula

The Canadian Advanced Technology Alliance proposed Resilience and Rebound (RR) Fund addresses tech companies left behind under current programs.  These vital Canadian companies are the future, invest their own money in research and science, and can lead Canada out of this economic crisis. They have passed rigorous scrutiny of Canadian Revenue Agency Auditors as successful participants of the Research, Science and Experimental Development tax credit program. The companies are known by the Federal Government,  trusted and strong.

One possible fund delivery mechanism could be as a partially forgivable loan, right sized as a multiple of a SR&ED claim,  delivered through Canada Revenue Agency, like the efficient CERB program. The same eligibility data could prequalify applicants for other existing programs as well. This is a fast, accountable, and simple data driven, digital solution with low administrative overheads for all parties.