Save Canada's Way of Life. Funding for science and technology centric businesses. #economy
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Our future, Canadian way of life, our social, healthcare, education and arts and culture programs need healthy Canadian revenues to fund. Getting Canada back to work when it's safe, securing a future for younger generations depends upon smart decisions made TODAY. Drawing on strengths and focusing on financial catalysts are key.
ASK - Don't abandon Canada's future. Protect one of Canada's best opportunities for financial recovery. Ease access to emergency, restart and bridging funds for science and tech centric small and medium companies. 760,000 Canadians working at these companies can keep Canada future ready.
We can work on Canada's comeback and future balance sheet recovery today.
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Innovation business access to existing funds is hampered by ill fitting eligibility criteria that is backward, not forward facing. The Canadian Advanced Technology Alliance Resilience and Rebound Fund and Alternative Eligibility Formula offer solutions.
Technology - Canada's new paradigm economy catalyst. Advanced technologies and digital sectors outpaced the economy and jobs growth at almost twice the national average pre-COVID19. Demand for future economy products and services, science, research and technology talent will accelerate faster than other sectors. 20-30% of the sector is seeing this now. We can't afford to lose 40% to offshore interests.
Canada could lose our financial catalysts in tech, the drivers of the economy without immediate action. Only 18% of technology company owners surveyed by CATA were confident the existing funding is accessible and enough for business survival over 12-18 months. Large US firms are targeting Canadian talent and companies to fund their own prosperity. #HistoryDoesntHaveToRepeat #LostForever
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 hold multi trillion dollar market promise. We are already seeing education, cloud, remote, medical and health technologies and financial technologies thriving in the pandemic.
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.
As they pass review scrutiny of the research and science tax credit program auditors, the companies are known, trusted and strong. A partly forgivable loan based on Science Research & Experimental Development data, a multiplier of verified investment into research and development, can provide right sized, assistance. Delivery could be via existing programs or be modelled on the CERB delivery channel. This is a fast, accountable, simple approach with low administrative overheads.
Program budgets could be reallocated to get people back to work and boost subscriber numbers. Funds would finance growth expansion and development of new opportunities, help bridge stressed COVID19 induced issues for these firms and help those that need quick cash to respond to opportunities created by COVID.
A healthy tech sector keeps revenues flowing into Canada and strengthens productivity.
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