R&D is essential for the rapidly growing cannabis industry in Canada, with companies investing heavily in developing new products and improving efficiency. Many are utilizing tax incentives provided by the SR&ED program to fund their efforts. Additionally, academic institutions and research organizations are working closely with the industry to advance research on the medicinal properties of cannabis. Overall, R&D is driving innovation and growth in the Canadian cannabis industry.
Since the legalization of recreational cannabis in 2018, the Canadian cannabis industry has grown significantly. It includes companies involved in cultivation, processing, distribution, and sales, and has created thousands of jobs. The industry generated $2.6 billion in revenue in 2020 and is expected to continue growing, with the Canadian cannabis market projected to reach up to $9 billion by 2025.
The industry is subject to strict regulations, including quality standards and government-controlled sales and distribution in each province and territory. Leyton helps companies in the Cannabis industry claim incentives from SR&ED tax credit to C3i tax credit.
Uses tax incentives to encourage Canadian businesses of all sizes and in all sectors to invest more intheir innovation projects through the purchase of specified assets and costs associated with R&D activities.
Makes it easy to identify the funding for your project by following these steps: Identify your needs, filter, search, choose the right grants for your business and contact our team to help you with the process.
Funding program for small to medium-sized businesses seeking innovation opportunities.
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