Prepared by Inflection Venture Partners · Embedded Growth Capital Advisory
Non-Dilutive Funding + SR&ED
📋 July Recap
SubmittedAICE Validate EOI submitted ahead of the Jul 29 deadline — $300,000 ask. "Clinical Validation of the 4Deep Cardiac Digital Twin," moving TRL 4 → 6. Manta is registered in the Alberta Innovates portal and the TDA request is in.
Research Software Maintenance Fund — not selected to Phase 2 on the $500,000 ask, against a field of 64 submissions. We have requested reviewer feedback from the Alliance so the next attempt is informed rather than repeated.
DeliveredFunding Readiness Strategy delivered. The material finding: Manta's seed round includes significant non-resident investment, which puts CCPC status — and with it the 35% refundable SR&ED rate — at risk. Losing it drops you to a 15% non-refundable credit. The strategy also frames four candidate SR&ED projects, a grant content library, and a 90-day priority sequence.
SR&ED foundation put in place — QuickBooks chart of accounts restructured with Natasha and confirmed complete on Jul 30, so eligible cost capture is clean from here forward.
Mitacs strategy scoped — up to four postdocs at $15K each on a 50/50 split ($7,500 from Manta, matched), 4–6 month terms, employed through the university so there is no overhead or benefits cost. Supervised by James's colleagues to keep him arm's-length.
Radical Imaging SR&ED question opened. Where their team sits determines eligibility — most staff are in Canada with the CEO in Boston. Potential recovery is roughly 35% of $600K–$1M in spend, which makes this worth resolving rather than assuming.
Applicant architecture settled: Manta Corp is the primary focus, with UofC-led research applications kept deliberately separate.
🔭 August Outlook
Mitacs one-pager covering program mechanics, the four-postdoc budget and timelines — September starts mean locking the strategy in August.
Two open items on the AICE file: the shareholder register Alberta Innovates has requested (with your counsel), and confirming the independent third-party validator — a hard eligibility gate before the September full proposal, and it cannot be James or an affiliated lab.
Request an NRC IRAP ITA to get that relationship started ahead of any application.
RSMF reviewer feedback expected around mid-August — roughly 10 business days from the request.
AICE Validate EOI decision ahead of the September full-proposal deadline.
ElevateIP Alberta intake opens in August ($8K–$15K per project, $100K cap) — a clean fit alongside the Innovate Calgary disclosures.
Weekly meetings Aug 7, 14, 21 and 28; funding scans Aug 6 and Aug 20.