Prepared by Inflection Venture Partners · Embedded Growth Capital Advisory
SR&ED (scoped) · Retainer in Discussion
📋 Recap
The FY2025 SR&ED claim is approved in full by CRA and the file is closed exactly as filed — a refund of $112,339, comprising $82,664 in federal ITC and $29,674 in Alberta credit, on $363,670 of eligible expenditures across the two Homie AI projects.
The refreshed funding scan is delivered, rebuilt from filed financials rather than estimates.
That scan closed the eligibility question gating three programs: FY2024 revenue of approximately $4,400,000 with around eleven on payroll clears the $1,000,000 revenue floor on the Regional Tariff Response Initiative, BDC LIFT and BDC Pivot to Grow, and the $300,000 floor on CanExport.
PrairiesCan Regional Artificial Intelligence Initiative is confirmed as the strongest non-SR&ED fit: $250,000–$5,000,000, interest-free repayable at up to 50% of project costs over up to three years, two-stage expression of interest, no revenue gate, continuous intake through December 2028.
We also confirmed with PrairiesCan directly that RAII expressions of interest can be filed even where another application is under review — useful timing intelligence for sequencing.
Two further debt and grant routes are on the board: enhanced RTRI at up to $3,000,000 non-repayable, and BDC Pivot to Grow at $250,000–$5,000,000 with interest-only payments for thirty-six months — either/or against BDC LIFT depending on use of funds.
The stacking rule for FY2026 is restated so it is built in from the start: hours covered by a wage subsidy under IRAP, YEP, Mitacs or SWPP must be carved out of labour claimed for SR&ED.
The October 8 product and non-dilutive roadmap session was rescheduled at short notice from our end — our apologies to you, Nathan and Vishu for the late change. We are coming back with a firm new time.
🔭 Outlook
Rebooking the roadmap session as the first item — the twelve-month product plan with Nate, and the FY2026 SR&ED technical context with Vishu ahead of his travel. Vishu's availability is the binding constraint, so we are working to his window.
Out of that session: map which roadmap items align to PrairiesCan RAII, NRC IRAP and SR&ED.
Prepare the PrairiesCan RAII expression of interest off the documented Homie AI scope. Intake is continuous and first-come, but only one approval per calendar year is permitted — so filing timing determines which year's slot is used, which is worth deciding deliberately rather than by default.
Confirm current trailing-twelve-month revenue and headcount.
Open FY2026 SR&ED capture now, including newly eligible capital expenditures, with subsidised labour excluded from the outset.
Request an NRC IRAP advisor introduction, and line up the Youth Employment Program for upcoming hires.
Book a BDC advisor session to compare LIFT against Pivot to Grow.
Re-verify every program term on the funder's own page before anything is filed — several of these have moved this year.
📝 Notes
We have noted your priority order — RFPs first, then grants, then other capital — and the scans and roadmap work are being sequenced to match it.