Among various funds and grants available to food and beverage industries, Scientific Research and Experimental Development Incentive program (SR&ED) is one of the lucrative one. Many food and beverage industries do not consider filing for SR&ED because they do not believe they qualify. While it is true that altering a recipe by itself does not constitute SR&ED, many companies in the food and beverage industry do have eligible projects in processing or packaging stages. Food companies often require striking a careful balance between taste and nutrition, or achieve an acceptable quality of product with different ingredients.- Developing new products, recipes or formulations
- Improving shelf-life of products
- Making products more nutritious and more appetizing
- Developing fat-free, gluten-free, or sugar-free products
- Systematically improving food safety
- Producing samples for sensory evaluation
- Improving speed of processes while remaining quality consistency
- Modifications of the machines, equipments or conveyer systems
- Process automation and self-monitoring
- Scaling up production
- Reducing waste or developing recycling strategies
- Implementation of environmental friendly or green technologies
Whether your company is improving the production efficiency of its food processing plant, testing for longer shelf-life or working to meet health and safety regulations (e.g. Health Canada, the FDA, HACCP etc.), Kelid™ can help you to identify eligible activities and expenses to maximize your claim. It costs you nothing to ask for a meeting to see if any of your work this year is eligible for this tax credit, because we do not get paid until your SR&ED claim successfully goes through. We strongly suggest to check out Kelid’s interactive Self-Assessment Look Up to determine eligibility of your projects. We also invite you to join our monthly news letter or follow us on Twitter, Linked-in, Facebook, or Google+ for latest government funding news and articles.
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