The cannabis industry in Canada has seen tremendous growth since the legalization of recreational use in 2018. One of the key factors driving this growth is research and development (R&D). Companies in the cannabis sector are investing heavily in R&D to improve the quality of their products, create innovative cannabis derivatives, and enhance cultivation methods. From exploring new extraction techniques to understanding the medicinal benefits of cannabis, R&D is helping the industry evolve rapidly. Many companies are also taking advantage of SR&ED tax credits, which provide financial support for their R&D efforts. As the market continues to expand, investing in R&D will be crucial for cannabis businesses looking to stay competitive and meet the demands of a growing consumer base.
April 1, 2025
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