Driving innovation is all about trial and error. It takes iteration and experimentation—in other words, research and development—to create solutions that can succeed at commercial scale.
That means that failure is an important part of the product development process that teams need to embrace!
Of course, that’s easier said than done when you’re a cash strapped founder working to create an MVP.
As Chris Hobbs of TTT Studios explains, however, that’s part of what’s great about the Canadian government’s Scientific Research & Experimental Development (SR&ED) program. It allows Chris’s team to take risks that have the potential for huge payoff down the road—and to fund innovation (and keep his team working) when he’s in the midst of a down cycle.
Through Chris’ leadership, TTT Studios has grown to become a powerhouse in the Vancouver tech community, creating digital experiences for customers that innovate and leave a lasting, positive impact on every user’s journey.
What sets TTT Studios and Chris apart is their unwavering commitment to deeply understanding every client’s unique challenges and business needs. From concept to code, TTT assembles an expert team around each project to build user-centric solutions that upgrade their clients’ business.
As exciting as the work being done at TT Studios is, this is hardly Chris’s first go-round driving innovation in the tech space, as he’s been a Founder and Developer on some incredible projects over the past two decades. We dig into how Chris got into the entrepreneurial space in the first place, his experiences building amazing solutions at TTT, and his sage wisdom for founders in Canada and beyond.
Getting in conversation with innovators
As Chris explains, Boast has been a big part of the tech ecosystem in Vancouver and beyond because we focus squarely on community. That means providng more than just innovation tax credits, but access to the minds, strategies and sounding boards that founders driving world-changing innovation need to see their startups and scale ups achieve growth.
SR&ED is one of the key programs that allows Chris Hobbs and other Canadian innovators to avoid layoffs when times are tough. By viewing the program as “all about employment,” businesses can encourage their teams to dig into research and development projects that could unlock game-changing solutions—even when budgets are tight, and tech peers in the US are tightening their belts.
All of this can be accomplished without exhausting your team’s runway (and largely regardless of market conditions) because it’s backed by SR&ED funding, which doubles down on the innovation investments teams are already making.
Innovation capital to be “hyper-competitive”
Chris Hobbs and the team are leveraging new technologies like Artificial Intelligence (AI) to improve operations and uncover new ways to delight their customers.
Because his team is driving truly unique innovation and tackling “technological uncertainty,” they can explore these projects with confidence knowing that SR&ED funding will help cover and extend these critical investments.
Boast thrives on seeing our community partners succeed. We truly view ourselves as hand-in-hand with the founders and innovators who work with our team to tap into the wealth of innovation capital on offer in both Canada and the United States. We share in our customers’ successes because we know we helped play a part in making some of the coolest new tech a reality by maximizing access to non-dilutive funding for the most exciting R&D projects.
To learn more about why Boast is best when it comes to funding innovation, talk to an expert today.
