R&D tax credits are becoming a lifeline for Canadian tech companies, with Boast leading the charge in helping firms secure nearly $900 million USD since 2018. As capital becomes scarcer and innovation costs rise, these credits are more than just a financial boost—they’re a strategic necessity.
Boast, a software firm specializing in R&D tax credit claims, has seen a dramatic increase in the number of companies utilizing their services—from 52 in 2015 to over 1,100 today. Their 2026 Benchmark Report highlights how these credits have become vital for funding growth, especially in tech-heavy markets like Canada and the U.S.
CEO Imad Jebara points out that many companies still haven’t fully tapped into government incentives. Boast aims to change that by simplifying the often cumbersome process of claiming credits. By pairing tax experts with finance teams and leveraging AI, Boast translates technical R&D work into compliant claims, saving companies time and resources.
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In the competitive landscape of tech funding, R&D credits are emerging as a crucial tool. While traditionally associated with early-stage startups, they’re increasingly important for growth-stage companies needing to innovate without diluting equity. Boast’s report shows that small to medium-sized businesses make up the majority of claims, but mid-market firms, despite being a smaller percentage, spend significantly more on R&D, often pursuing multi-jurisdiction claims.
The recent inclusion of capital expenditures in programs like Canada’s SR&ED is a game-changer for hardtech companies. Historically sidelined due to the focus on software, these firms can now claim expenses related to materials and facilities. This shift reflects a broader evolution in tech funding, aligning government incentives with the realities of modern innovation.
For founders and engineers, this means a more accessible path to funding R&D efforts. The ability to reclaim costs not only offsets financial risk but also signals fiscal discipline to investors. As companies scale, the complexity of stacking federal and provincial credits increases, highlighting the need for strategic planning.
Boast’s readiness to adapt to new tax regulations positions them as a valuable partner for companies aiming to maximize their R&D returns. For those in the tech industry, keeping an eye on these developments is essential. As the landscape of government incentives continues to evolve, understanding and leveraging these credits could be the key to sustainable growth and competitive advantage.
