According to the Entertainment Software Association of Canada, Canada is the world’s third-largest hub for game development, the video game industry brings in $3.7 billion CAD annually to Canada’s GDP, creates over 40,600 full-time equivalents, and houses almost 600 active studios.
The answer is simple: by using innovative solutions. The video game industry is much more than a platform for entertainment, every company invests in research and development activities to propose innovative products for their audience.
In fact, there is a large range of innovative technologies that help gaming companies stand out and offer a real customer experience such as:
By implementing one of these innovative technologies into their products/services, gaming companies fully succeed in bringing their level of innovation to another level and present a whole new experience to their customer. This is the reason why we have seen appearing in recent years significant advancements in digital gaming such as visualization, education, or medical simulation.
It allows non-gaming companies like those operating in the healthtech or biotech sectors to use gaming applications to offer an immersive experience for their client. For instance, virtual reality can now be used to help patients conquer their fear in a ‘gaming world’ and hence reduce the anxiety of actually facing their fear in a “real situation”.
These R&D projects were made possible thanks to Government funds such as the SR&ED tax credits, the Multimedia tax credit in Quebec, Digital Media tax credits in Ontario, or the Canada Media Fund. Those streams help Canadian companies in managing their growth in the sector and indirectly push other sectors to benefit from the innovation brought by the video game industry.
You might be eligible for one of the streams available for gaming companies. Our team of experts can help you navigate through those programs and support you by maximizing your claim.