In the fast-paced world of MedTech, innovation is not just about creating the next breakthrough device. It also requires navigating complex clinical, regulatory, and technological challenges while keeping projects financially sustainable.
Yet, many companies leave a significant portion of their R&D funding on the table simply because they don’t fully understand how to leverage Canada’s SR&ED program.
At Ayming Canada, we see firsthand how domain-specific expertise transforms SR&ED from a routine filing exercise into a strategic growth engine. MedTech R&D is rarely linear: it involves iterative design, regulatory testing, and multidisciplinary problem-solving. A generic SR&ED approach often misses the mark. That’s where specialized consulting adds value.
Why MedTech Expertise Matters
A consultant with deep MedTech knowledge doesn’t just “file a claim.” They uncover eligible work hidden in regulatory redesigns, failed prototypes, or software iterations. All work that internal teams often dismiss as routine engineering. By aligning SR&ED documentation with design history files, V&V reports, and clinical milestones, our consultants translate real-world technical uncertainty into defensible claims. This ensures companies capture the full value of their innovation, all while maintaining compliance under increasing CRA scrutiny.
For example, a team improving the firmware of a wearable ECG monitor to reduce signal noise may see “trial and error” as just part of development. A MedTech-savvy SR&ED consultant reframes these iterations into a systematic narrative of hypotheses, tests, and refinements. Turning everyday problem-solving into recoverable R&D credits.
Pairing SR&ED with Other Funding: Doubling the Impact
Maximizing SR&ED returns isn’t just about what you claim, it’s about how you combine it with other government programs. Retroactive SR&ED tax credit can be strategically paired with proactive direct funding programs such as government grants like IRAP, CIHR, or provincial innovation funds. This layered approach allows MedTech companies to fund both early-stage prototyping and later-stage in-house development, effectively doubling the return on every dollar invested in R&D.
Take a connected insulin pump project, for instance. IRAP funding supports initial proof-of-concept development, while SR&ED claims recover redesign efforts to improve electronics and firmware performance. This type of funding synergy extends cash runway, reduces reliance on debt or equity, and gives companies the freedom to iterate and scale faster.
Looking ahead
With SR&ED modernization, greater emphasis on audit-ready documentation, and alignment with federal priorities like AI and digital health, MedTech companies that adopt a strategic, proactive approach will gain a clear competitive advantage. By integrating SR&ED into the product lifecycle and pairing it with complementary funding programs, innovation becomes not just possible but financially optimized.
At Ayming, we guide MedTech leaders through this complexity, turning technical uncertainty into tangible growth. For companies ready to unlock their full R&D potential, SR&ED isn’t just a tax credit, it’s a strategic tool for innovation and competitive advantage.
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