Moncton, New Brunswick business TRC Manufacturing – a division of TRC Hydraulics – will be receiving up to $668,657 in Industrial Research Assistance Program (IRAP) Mid-Size funding for the research and development of two innovative projects. TRC Hydraulics, a leader in Atlantic Canada for the design of customized solutions in mining, forestry, marine, oil, and natural gas sectors, has championed Canadian innovation since 1986. Now with a team of 87 employees from the Moncton area, TRC Hydraulics will be investing in two of their largest innovative development projects to date.
IRAP Small Business Grants Awarded to TRC Manufacturing
TRC Manufacturing will use their total investment of over $668k in research funding towards two projects:
- $326,565 for the development and implementation of an innovative, low-cost pump jack for oil shafts; and
- $342,092 for the development of an undercutter for use in the salt mining industry.
“IRAP support has allowed TRC Hydraulics, through its manufacturing division, to develop innovative, technologically advanced custom solutions for the mining, and oil and gas industries, and to bring them to market successfully.”
– Terry Cole, President and CEO for TRC Manufacuturing
IRAP Mid-Sized Project Small Business Grants
The Industrial Research Assistance Program (IRAP) Mid-Size Project Grant, funded by the National Research Council (NRC) enables businesses to research, develop, and commercialize new innovative technologies for their industry. This government grant funding for research provides several different programs for Canadian small businesses, including IRAP-ARP, IRAP Mid-Sized Projects, and IRAP BIAP. TRC Manufacturing’s government funding wins came through the IRAP Mid-Sized Projects stream, a fund which provides up to 65% of technical employees’ wages for enabling innovation related to product development or improvement projects. Businesses must be incorporated for at least two years and provide employment to 1-500 staff.
Contact the Canadian Government Funding Experts for Research Grants
Does your business complete research and development projects to solve a technical risk or challenge? Contact Mentor Works to understand your options in obtaining government grants for research and development activities. We’re also holding a free webinar on business innovation where we’ll discuss the features of IRAP funding in addition to other great solutions for your small business. For news on Canadian government grants and loans, be sure to follow us on Twitter, or register for our weekly e-newsletter where we’ll share the best government funding news with you.