TORONTO, January 18, 2023 – Kitchener-Waterloo-based Accelerator Centre (AC) has partnered with Easly, a Capital-as-a-Service company that finances Scientific Research and Experimental Development (SR&ED) tax credits. The two organizations will work together to support the AC’s members as they bring their innovative ideas to the marketplace.
“More entrepreneurs in Canada can take advantage of government tax credits as a means to secure a more predictable cash flow and access capital sooner,” said Alastair Nimmons, Executive Vice President at Easly. “Accelerator Centre does an excellent job helping their members grow and build globally competitive businesses that thrive. Our partnership will add another critical element to their success.”
“SR&ED credits are one of the many ways Canadian founders can access funding for their businesses,” said Tabatha Laverty, VP of Marketing and External Relations at the AC. “Through this partnership with Easly, we will help more founders take advantage of these opportunities and build, grow, and scale successful companies.”
Since 2019 Easly has provided more than $110 million of non-dilutive funding to Canadian businesses that receive government tax credit refunds ranging in amounts from $100,000 to $2 million annually. A growing number of companies are improving their cash flow by using Easly quarterly disbursements as their SR&ED credits accrue during the year. Two-thirds of Easly advances are for repeat customers.
“There are billions in tax credits available to small and medium-sized businesses and many companies could put that capital to use sooner without negatively impacting their cash flow through Easly financing,” added Nimmons. “Easly’s partnership with the AC will bring our capabilities to the attention of more entrepreneurs.”
Since it was founded in 2006, the AC has grown to be an award-winning organization, having been named a top private business accelerator globally by UBI Global. The AC has also helped to bolster Kitchener-Waterloo’s tech sector. As of January 2023, the AC has worked with over 750 startups, has contributed to the creation of over 5,000 jobs, and attracted over $ 1.7 billion in investments. Its alumni include ApplyBoard, Miovision, Magnet Forensics, Axonify, Ecopia.ai, TextNow, and SSIMWAVE.
Easly Solutions Corp. is a market leader in refundable investment tax credit financing. Through its Capital-as-a-Service financing platform, Easly provides Canadian companies of all sizes with non-dilutive capital that's accessible throughout the year by leveraging a company's accruing tax credit refunds. Bringing the receipt of these funds forward enables companies to strategically invest in their growth without having to give up equity or negatively impacting their cash flow. Visit fundeasly.com.
About Accelerator Centre
At the AC, we exist to help ambitious dreamers impact global change through their businesses. The AC is ranked Canada’s #1 private business accelerator and is among the top five such organizations globally. We offer an extensive selection of customizable opportunities for startups across Canada—allowing founders to rapidly bring their innovation to life. We work with our global partners to bolster the innovation ecosystem in Waterloo and beyond. Visit acceleratorcentre.com.
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