News Summary

CoLab, a Newfoundland-based startup, has significantly reduced the time and resources spent on SR&ED tax filings by partnering with Boast, a SaaS platform that streamlines the R&D tax credit process using AI. Previously, CoLab’s traditional approach required over 100 hours and extensive developer involvement. With Boast, the process has become more efficient, requiring minimal developer time and avoiding audits. This efficiency has allowed CoLab to reinvest the time and resources saved into developing new features, such as Follow Mode for real-time project troubleshooting and Review Notebooks for asynchronous collaboration. For CoLab, the SR&ED credits have been instrumental in driving innovation, enabling the company to expand its team and accelerate project development. Boast’s understanding of SaaS development has been crucial in simplifying the SR&ED process for CoLab, allowing them to focus on innovation rather than compliance.