EY Canada and Easly Announce Collaboration to Provide Canada’s Innovators Best-In-Class Filing and Financing Services for Investment Tax Credits and Grants
May 26th, 2021
TORONTO, Ontario – EY Canada and Easly are working together to provide innovative Canadian companies with a comprehensive solution to optimize applications for the Federal government’s Scientific Research & Experimental Development (SR&ED) and other investment tax credit (ITC) and grant programs. Companies that look to EY Canada to accurately and efficiently claim SR&ED and other ITCs and grants will now have on-demand access to non-dilutive financing from Easly, which allows swift and strategic investment in their growth.
Easly makes it possible for companies to access the benefits of programs like SR&ED throughout the year, providing them with opportunistic working capital, improving their cash flow and diversifying their capital mix. The funding Easly provides directly ties to the total ITC and grant amount a company can expect to receive. “Collaborating with EY’s tax consulting experts to provide customers with an end-to-end solution for both consulting and financing will create great value for innovative Canadian companies,” says Minal Shankar, CEO of Easly. “EY’s focus on building strong client relationships aligns with our Capital-as-a-Service approach to financing. Our shared values and complementary skills will create real benefits for businesses large and small, allowing them the freedom to focus on their research, development and growth.”
This collaboration supports EY’s global ambition to help companies in Canada and around the world drive their digital agendas. A streamlined process with reliable access to Easly’s capital will enable EY’s clients to flourish in the digital age and embrace transformation as the new normal. Accurate record-keeping and tax filing are an integral part of Easly’s funding process, and the expertise EY has in that domain will further streamline Easly’s ability to deliver funding to the hands of innovative Canadians faster. Companies will benefit from the synergy of this collaboration through maximized returns, improved cash flow, and simplified access to capital, culminating in a best-in-class customer experience.
“We’re excited to work with Easly to further support Canadian entrepreneurs, innovators and startups as they look to accelerate their growth journeys,” Susan Bishop, National Leader SR&ED and Business Tax Incentives. “The process to prepare and apply for SR&ED and grant programs can often be complex and daunting. By working with Easly, we can help companies navigate the uncertain, accelerate the process and get funds sooner. Addressing the roadblocks to provide the necessary resources and funding to innovators in a timely manner will be key to helping Canada retain intellectual property and grow its innovation economy.”
The Federal Government’s 2021 Budget included a focus on building an innovation economy for the future of the country, and funding available to Canadian companies saw an enormous increase. This includes an additional $7.2 billion for the Strategic Innovation Fund, which is accessible to companies operating across many different sectors.
Easly Solutions Corp. is a market leader in investment tax credit and grant financing. Through its Capital-as-a-Service financing platform, Easly provides Canadian companies of all sizes with non-dilutive capital that’s accessible throughout the year by leveraging a company’s accruing tax credits and grants. Bringing the receipt of these funds forward enables companies to strategically invest in their growth without having to trade equity.