Tessier: SR&ED Program

Tessier Dept: As a maker of integrated display technology for sports head gear, R&D is an integral part of the company's DNA. Like many executives of an R&D-intensive operation, Mr. Tessier is paying close attention to the recent federal budget changes to the SR&ED program and VC funding, according to Vancouver Sun. Government moves into the venture capital space are timely given that institutional players are no longer in that game, Mr. Tessier notes. "Moving more to a direct investment model is a step in the right direction, but we have to remember that SR&ED has also been a critical piece in helping businesses get off the ground and growing. You have to look at things from an ecosystem perspective if you want a vibrant economy." For entrepreneurial companies like Recon Instruments in Vancouver, SR&ED Scientific Research and Experimental Development tax credits have been as much of a boon to business growth as venture capital funding. "We've claimed SR&ED benefits in excess of $1-million over the past three years," says CFO Todd Tessier. These changes include, among other things, increasing direct support to government-funded venture capital initiatives, including a $400million fund for VC activities, while "streamlining" the SR&ED program. (www.immigrantscanada.com). As reported in the news.