Why is it important to choose a SR&ED provider with a track record of success—and a history of innovation in their own right?
As Daniel Shum explains, finding a true partner for SR&ED pays off in spades, both in terms of cash flow and peace of mind,
Daniel is the Chief Operating Officer at CTK Bio, a Canadian cleantech startup that’s researching, developing and manufacturing solutions that combat climate change and environmental pollution. Their technology is a game changer, converting wasted by-products into truly biodegradable and compostable goods that are designed to break down in managed and unmanaged environments.
Daniel’s team is very clear in their mission: To ensure that in all processes where ideas meet technology, CTK Bio not only promises success, but strives to accelerate the world’s transition to sustainable products.
It’s a lofty goal, and Boast has been proud to partner with Daniel and the CTK Bio team to capture the innovation capital their team deserves.
In this episode, we learn more about how Daniel got into the space, the great work the team at CTK Bio is doing, what it’s been like partnering with Boast to tap into R&D tax credits, and plans for the future.
Efficiency, expertise and positivity throughout SR&ED claim process
While Daniel had been in contact with Boast, he went with a different provider the first year that he completed SR&ED—and regretted it almost immediately.
After paying the price of working with a competitor who did anything but ease the process of filing R&D tax claims, he worked with Boast’s in-house SR&ED experts.
Not only did Boast understand his technology better, but they crafted a more complete tax claim that maximized the amount of R&D investments they could recoup to plug back into product development.
Boast’s technical team has been able to act quickly and deliver for Daniel and his team when it came to capturing the R&D tax credits they needed to drive innovation.
Just understanding the complexities of the work that is taking place every day at CTK Bio could take “years,” as Daniel explains it.
But because Boast’s technical experts are technologists in their own right—to say nothing of the years of working with the CRA and IRS directly to intimately understand their judgments—we’ve been able to deliver positive outcomes for Daniel’s team year-after-year.
QuickFund from Boast to extend innovation runway
Daniel Shum and the team at CTK Bio are one of many Boast customers who leverage our QuickFund program to tap into their end-of-year SR&ED claim before their FY has even wrapped.
With QuickFund from Boast innovative businesses can receive up to 75 percent of the R&D expenditures they’ve accrued in a given quarter.
With this early access to their SR&ED refund, teams can actually start embarking on activities that will increase their SR&ED eligibility for the next quarter. By compounding their efforts and investments (as early as three months into the tax year with QuickFund), R&D teams will ultimately be better funded—and by extension, more effective.
Daniel Shum from CTK Bio emphasizes how uniquely efficient Boast’s technical support team is in support SR&ED claims, without compromising our deep technological expertise.
The result? A white-glove approach to SR&ED claim preparation and defense that goes beyond the tax claim, helping teams unearth new areas for efficiencies and R&D optimization that will pay off in the long run.
Watch the full video interview with Daniel on Boast’s YouTube.
To learn more about working with Boast to help extend your innovation runway talk to an expert today.
