To qualify for the program, an applicant must meet the following requirements:
a) Own or license qualifying intellectual property that is linked to the commercialization of new goods, services, or processes in Saskatchewan. The qualifying IP/good(s), service(s), and process(es) must meet one of the following definitions:
i. The proposed innovation has as no equivalent in the Canadian marketplace or is an exceptional advance on the current state of the art in Canada;
ii. The proposed innovation has unique features and benefits that offer exceptional differentiation from current competitive offerings in the Canadian marketplace and is sufficiently unique that the potential exists to create a competitive advantage or create a new market niche.
b) Establish/identify an eligible corporation where the only sources of revenue are related to the commercialization of the qualifying intellectual property.
c) Demonstrate new economic benefits to Saskatchewan by meeting two of the five economic benchmarks (these can be accumulative over any period of time):
- $3 million in R&D expenditures in Saskatchewan (including labour costs) – consisting of new R&D, existing R&D pertaining to the qualifying intellectual property, or a combination of new and existing R&D;
- 10 net new full-time employees;
- $10 million in net new capital expenditures;
- $3.5 million in new provincial CIT taxes paid; or
- Optional: A proposed new economic benefit benchmark as pre-approved by the Ministry of the Economy.
d) Once the applicant/eligible corporation demonstrates the required new economic benefits to Saskatchewan, it will be issued an SCII Certificate. The corporation can then submit the SCII Certificate to the Ministry of Finance at a time of its choosing to begin claiming its 10 or 15-year corporate income tax rebate benefit period.