One of the principal challenges faced by small and medium enterprises in applying for government funding is that such programs typically require the claimant to track and retain key information, for example, they must be able to substantiate any costs and expenditures claimed. Often, this entails that processes be in place for tracking labour, key project communications and problems, and project expenditures. In certain programs, for example, the federal government’s Scientific Research and Experimental Development (SR&ED) incentive program, these requirements have become more stringently enforced in recent years. Generally, such information must be time-stamped and recorded at the time of occurrence; if this is not the case, legitimate work activities can end up being excluded from a funding application.
To avoid this scenario, it is our experience that it is best to take a pro-active approach to information gathering in anticipation of eventual applications. This involves integrating information gathering requirements with normal business operations, and perhaps even using these requirements as an opportunity to improve understanding of technology and/or business processes. This means that information gathering has its own intrinsic value and is carried out independent of any ultimate decision to file an application, and that any such decision can be based upon other business factors. At Wilson Cook Associates, we are experienced both in identifying the type of information needed to support applications and in setting up the gathering of this information in a way that preserves or improves normal business practices.
For those clients who do not have suitable processes in place we also offer our custom developed Timesheet and Logbook tools for time and work tracking. These tools have been developed to specifically address the support requirements for funding applications. The tools are offered via a WEB portal and can be used for multiple projects to support multiple concurrent funding applications.
If you are interested in finding out more about how Wilson Cook Associates might be able to help with your R&D technology projects, then please contact us.