Prepared by Inflection Venture Partners · Embedded Growth Capital Advisory
Non-Dilutive Funding + SR&ED · First Month
📋 July Recap
KickoffEngagement signed Jul 15 and kicked off Jul 22. This is our first month together, so July was about taking control of the in-flight files and building the foundation underneath them.
Handover from Thin Air Labs completed cleanly. Grants inbox, NRC IRAP portal access and the full historical grants folder are now with us. Worth noting for the record: you owe Thin Air on IRAP, the only win under them, but not on BSP, which was never submitted.
Shared client data room stood up Jul 19 — contract, dataroom, past applications, applications and reporting, funding strategies, reporting and communications.
IRAP Claim 1 package assembled for NRC IRAP Project 1044487 ($100,000 awarded, contribution agreement executed Jun 29). Covers 85 hours of development across 11 Amber AI tasks — workstation and AMD compute driver configuration, local-AI environment, source-package structure, IP-encryption prototyping, security and privacy requirements, and retrieval evaluation — with payroll evidence attached.
PrairiesCan BSP taken over the finish line — $4,750,000 ask. Inherited around 90% complete but never submitted, with unaddressed reviewer comments and a missing budget section. EOI-response package assembled Jul 30: cost clarification, IRIS portal client authorization, financial disbursement disclosure, March 2026 financial statements and bank statements through July.
Funding tracker built out to 17 opportunities, with the Clean Technology ITC (30% refundable), Alberta Purchasing Connection RFPs, CanadaBuys and Buy Canadian, and EDC flagged as the high-priority next tier.
SR&ED baseline established. FY2025 returned roughly $80K. With six full-time developers plus a PM now against roughly two FTE-equivalents in 2025, FY2026 should be materially larger — your Notion ticketing system already separates eligible from ineligible hours, which puts you ahead of most first-year claimants.
🔭 August Outlook
Submit the PrairiesCan BSP. Documents are staged; the portal login migration was the last mechanical blocker.
File IRAP Claim 1 for the June period.
June financial statements due Aug 7 — these unblock several downstream applications.
Stand up the 2026 SR&ED tracker and work out a defensible allocation for the ~$21K in NVIDIA hardware purchased for AI development, which currently has no tracked hours against it.
CanExport SMEs closes Aug 31 — needs a pursue/pass decision.
Confirm the Tech Nation intake position for the two interns, and re-establish the biweekly Tuesday cadence.