INFLECTIONVP
Embedded Growth Capital Advisory
October 2026

Monthly Client Update

Manta

Prepared by Inflection Venture Partners · Embedded Growth Capital Advisory

Grants & SR&ED

📋 Recap

  • The refreshed non-dilutive scan is delivered against the new profile — medical-imaging AI infrastructure with an agentic orchestration layer across cardiology, neurology and pulmonary.
  • AICE is verified open: Validate up to $300,000 and Market Access at $300,000–$600,000, at up to 75% cost share, with the intake form due November 27 and the full application January 15, 2027.
  • The scan is explicit that the corporate structuring decision gates eligibility across AICE, PrairiesCan RAII, NRC IRAP, Mitacs and SR&ED. Getting the structure right is worth more than any single application, and that is where the effort belongs right now.
  • The live board beyond AICE: enhanced SR&ED at 35% refundable on up to $6,000,000, PrairiesCan RAII at $250,000–$5,000,000 on continuous intake, NRC IRAP through an advisor introduction, and Mitacs Accelerate.
  • Two items are closed out cleanly: the amii Health Innovation Lab call closed September 28, and the NSERC–Alberta Innovates Advance Grants Stream II expression of interest has expired.
  • The Digital Research Alliance Research Software Maintenance Fund ($500,000, University of Calgary as prime) is still awaiting a decision with no published result.
  • A structure-dependent US route is on the board: NIH SBIR/STTR is available only with a US subsidiary under US-person majority ownership.
  • There are no confirmed program deadlines inside the next thirty days — which makes this the right window to settle structure before the November and January intakes.

🔭 Outlook

  • The corporate structure funding brief is the priority deliverable and we are putting a firm date on it. It tests each eligibility pathway against both the parent-company structure and a founder-owned Canadian R&D entity licensing IP out, as direct input to your international tax advisor.
  • Alongside it, two tests to confirm under the chosen structure: how the Alberta-based SME test applies, and whether CCPC status holds — both run through the Alberta Innovates relationship.
  • We need the Labeldeep technology overview from you to complete the US healthcare market scan — that is the one open dependency on your side.
  • Confirm the incorporation date against the operating-history tests on RAII and IRAP. Manta Health Technologies incorporated February 6, 2026, which sits short of the roughly two-year test, so the structure decision may determine which entity applies.
  • November 27 — the AICE intake form. We want the file assembled so it is ready regardless of which structure is chosen, with the full application following January 15, 2027.
  • Prepare the PrairiesCan RAII package — financials, deck and bank statements.
  • Scope one or two Mitacs internships with a University of Calgary supervisor, and request an Alberta NRC IRAP advisor introduction.
  • We are re-establishing the regular check-in cadence after the early-October session moved — a standing slot rather than a placeholder.

📝 Notes

Thank you for the Santis Health survey on AI in Canadian healthcare — it is useful corroboration for the thesis and we will fold the relevant findings into the market scan.