Monthly Client Update

PrePad

Prepared by Inflection Venture Partners · Embedded Growth Capital Advisory

Grants & SR&ED

📋 Recap

The PrairiesCan BSP expression of interest is submitted. A $3,000,000 project with a $1,500,000 interest-free repayable ask against a $1,500,000 match. A new PrairiesCan portal account was set up and the financials closed out the last gap. Review runs roughly thirty days to either a decline or an invitation to a full application.
RAII is back on alongside it. PrairiesCan confirmed to us directly that RAII expressions of interest can be filed even where a BSP application is under review — so the roughly $1,925,000 RAII file is no longer a fallback waiting on BSP. It becomes a parallel track.
The NRC IRAP shape is settled: two project scope documents, one core R&D and one AI-specific, targeting a spring start, with a possible top-up on the existing open project later this year. No interim or zero-dollar claims are needed — claims can be lumped to end of November once funds activate.
The Alberta Innovates and ERA sequence is now clear, and it is not the one we assumed. ERA continuous intake is not viable without going through Alberta Innovates first — Alberta Innovates funds an early-stage project and then refers to ERA for scale-up. We are confirming the earliest possible referral point.
Putting the three together — BSP, IRAP and Alberta Innovates all landing — the combined non-dilutive picture is approximately $2,500,000.
Your Alberta Innovates and IRAP meeting transcripts have been worked into concrete actions and project framings rather than left as notes.
The October 9 funding scan is delivered. FY2026 SR&ED is now estimated at $300,000–$350,000. The ERA Methane Reduction Deployment Program is added as worth exploring with terms unconfirmed, and CanExport Innovation at $8,538 remains pending.
Two corrections from that scan, both of which tighten what we told you last month: the NGIF methane program deadline may now have passed and should not be treated as open, and there is no confirmed open call for OCIF Express — the announcement expected at the Blue Sky City event did not materialise into a verifiable call.

🔭 Outlook

~October 22 — the 2027 funding roadmap, one slide plus a supporting document, built for the Series A data room. This shows investors the non-dilutive capital working alongside their dollars rather than instead of them.
Immediately — confirmation from Fort Group that the FY2025 SR&ED amendment has actually been filed. The mid-to-late November CRA decision window on the roughly $289,323 refund depends on the filing being in, and we are chasing it from our side as well.
Next two weeks — draft the two NRC IRAP project scopes from the AI and simulation levels 0–5 material, as short two-pagers, with the ask sized at roughly $200,000–$300,000.
Next two weeks — confirm the ERA referral timing with Alberta Innovates, and the early-2027 ERA call schedule.
Early November — the thirty-day BSP response window closes. If an invitation to a full application comes back, that becomes the priority file.
October — file the RAII expression of interest at approximately $1,925,000.
Mid-to-late November — the CRA decision on the FY2025 SR&ED refund. We will begin FY2026 technical documentation this fall so the 2026 claim files directly with the T2 rather than as an amendment.
Also in motion: registering on the Canada-Alberta Productivity Grant employer portal with training-provider quotes for the incoming hires, and banking the no-cost vendor credit stack.

📝 Notes

The Alberta Innovates Strategic Industries route stays live — TRL 3 to 7 at up to $750,000 and up to 50% cost match, reimbursed against milestones, with no IP claims against the company. The expression of interest drafts off the ERA proposal boilerplate once the IRAP scopes are down.