Spinoff Toolkit: Opening for Business

After a new company is created, it will begin to grow its business and seek its first customers. The new venture will likely make investments into developing its products and services. The venture may pursue commerce with individuals, contracts with private industry or provide products/services through public sector procurement programs. The company may also undertake further research and development, prototyping, technology demonstration, and regulatory approvals. It is very common for new ventures to pivot (adjust or change direction) during this stage. 

External Resources

Innovative Solutions Canada: A federal government program that offers funding for R&D and prototyping for early-stage companies. 

Scientific research and experimental development (SR&ED) tax credit: An Alberta Ministry of Finance and Enterprise administered tax credit which refunds eligible expenditures on R&D.