For companies in the interactive digital media industry, staying at the forefront of technology and creativity is crucial. Provincial governments across Canada recognize the significance of fostering innovation within this dynamic field and offer support through the Interactive Digital Media Tax Credit (IDMTC).
At Venbridge, we understand Canadian companies’ unique challenges in the interactive digital media industry. We are committed to helping them leverage the IDMTC through strategic financing, paving the way for amplified innovation and growth. Below, we will explain some advantages of financing your IDMTC with Venbridge.
Supporting Digital Media in Canada with IDMTC
The Interactive Digital Media Tax Credit is a provincial incentive program for businesses creating interactive digital media content such as video games, educational software, online magazines and more. This refundable tax credit incentivizes innovation provincially by providing eligible companies with substantial benefits based on their qualified expenditures and location. Moreover, the IDMTC not only stimulates innovation and business growth but also contributes to Canada’s global leadership in the interactive digital media industry.
The Financing Dilemma
While the IDMTC holds tremendous potential for supporting businesses across the provinces, companies often face the challenges associated with timing. Claiming this tax credit and then waiting for its approval can result in delays that hinder your innovation efforts. Fortunately, this is where Venbridge can step in as a strategic partner.
Quick Access to Funds through Financing
For businesses involved in interactive digital media, timing is everything. The delay between incurring eligible expenditures and receiving your digital media tax credit refund can place roadblocks in the way of growing your business. However, Venbridge’s digital media tax credit financing solutions offer immediate relief. Venbridge provides financing based on your accrued IDMTC credits to date, injecting the funds you need in as little as three business days. This enables your company to overcome financial hurdles, keep your projects on track, and continue producing innovative content, products, and processes without disruptions.
Maximizing Your Growth Potential
Leveraging Venbridge’s digital media tax credit financing doesn’t just offer short-term relief; it can propel your business’s growth. The infusion of funds through Venbridge enables you to invest in innovation, attract top-tier talent, expand your capabilities, and explore new avenues of creativity. By utilizing your provincial IDMTC sooner through financing, you enhance your company’s ability to drive its innovative projects forward and maintain a competitive advantage in an ever-changing interactive digital media market.
Your Partner in Innovation
Many Canadian digital media companies are eligible for both SR&ED (Scientific Research and Experimental Development) and Interactive Digital Media Tax Credit incentives, but receiving your refund often takes a significant amount of time. At Venbridge, we provide founder-friendly, non-dilutive financing to assist you in funding your development and success.
Moreover, our commitment to your company’s success extends beyond traditional financing solutions. Venbridge aims to be your strategic partner in innovation and growth. Our team understands that your projects are dynamic, your timelines are tight, and your creative pursuits are boundless. By partnering with us, you gain access to immediate financial resources, ensuring that your innovation engine remains unhampered by financial constraints.
Ready to Get Funded?
If your company is engaged in creating digital content or educational products in Canada, don’t wait months to access your capital through the eventual refund. This provincial tax incentive program can provide you with a refund based on your subcontractor fees, full-time employee salaries, consumables, and more. The IDMTC is a fantastic opportunity that can help your company fuel its innovation efforts, and Venbridge is here to accelerate the capital it provides. Through our IDMTC financing solutions, Venbridge can assist you with growing your company to new levels without giving away equity.
Contact us today to learn more about Venbridge’s digital media tax credit financing program.
