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Fractal Inc.

Submission — Fractal Inc.

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Submitter(s): Hanna, Maggie

Summary: We are working on a new way to liberate hydrogen from salt water and other fluids with ultra-efficient energy inputs using fractal field theory principles and effects. Our R&D group is global and consists of 7 highly specialized individuals from across the world… France, Canada, 2 x US, 2 x Australia, and Switzerland. Naturally, the resulting company is not >50% Canadian owned. The plan was to set up our operations in Canada and do our research here until we discovered our endeavor was not eligible for Canadian IRAP, SRED or any other research grant support due to the company ownership being less than 50% Canadian. We moved our operation to Australia which has no such ownership restrictions. Other advantages that make a real difference to us is that 1) Australia offers an R&D tax concession which amounts to a cash rebate of 37.5% of monies spent on R&D, 2) a simple 2 page application, 3) a 6 week turnaround time for approval, and 4) a three month turnaround for payment. Their main concerns are that 1) the company be incorporated in Australia, 2) a minimum of $20k spent on R&D, 3) the work is done in Australia, and 4) the financial risk of the project is in Australia. In conclusion, Canada lost this project due to its antiquated rules and procedures. It didn't have to be this way.

Full submission: PDF Version