Deloitte Canada Acquires SR&ED Consulting Firm Flow to Accelerate Its Presence in Startup and TMT EcosystemsTuesday, January 30, 2024
Vancouver, BC, January 30, 2024--(T-Net)--Deloitte Canada announced today that it has acquired Flow Consulting Inc. (d.b.a. Flow), a Scientific Research and Experimental Development (SR&ED) consulting firm headquartered in Toronto, Ontario.
This strategic move aims to strengthen Deloitte's footprint in the startup and Technology, Media, and Telecommunications (TMT) ecosystem.
With a history spanning over 17 years, Flow has excelled in assisting clients in sourcing tax credits, grants, venture capital funding, and loans, employing a comprehensive founder-focused approach that has enabled numerous Canadian companies to secure millions in funding, thereby optimizing time and enhancing success rates.
"Bringing on the exceptional leadership and skilled team from Flow will further bolster our ability to drive value for our clients and the early-stage technology ecosystem" says Talia Abramowitz, Managing Partner, Deloitte Ventures. "It is a vibrant ecosystem that is critical to Canada's economy, global competitiveness and overall prosperity."
Among the team of SR&ED practitioners joining Deloitte, Raymond Luk, the founder, will join Deloitte Canada as a Senior Advisor, and the CEO, Elaine Coopersmith, will join as a Director and continue to lead the team.
Flow will be seamlessly integrated into Deloitte's Global Innovation and Investment Incentives (Gi3) practice, and will work together with founders, innovators, and operators across Canada in building sustainable and vibrant communities where investments and innovation flourish.
"Across businesses and industries, what unites our people is a commitment to service," says Anthony Viel, CEO of Deloitte Canada. "Serving others is embedded in our DNA. Joining forces with Flow adds strong leadership, technical capabilities, and deep industry relationships to our Gi3 practice, which are at the forefront of building sustainable and vibrant communities where investments and innovation flourish. With our brand, resources, and adjacent offerings, and Flow's market eminence, relationships, and technical capabilities, we will undoubtedly help and inspire our clients and technology ecosystems to grow."
Specializing primarily in serving earlier stage TMT companies, Flow seamlessly aligns with Deloitte's rapidly growing Gi3 practice which plays a pivotal role by informing government policy, fostering collaborations with funding agencies, and providing crucial support to clients in securing various forms of non-dilutive funding.
Within the framework of Deloitte's Gi3 practice, the team will continue to deliver SR&ED and funding consulting services to clients. The acquisition of the team is designed to enhance the growth trajectories of early-stage innovators and operators, working closely with clients to maximize their access to non-dilutive capital, such as tax credits, grants, and government loans, all while prioritizing a founder-focused approach.
"This integration allows us to continue in our role as trusted advisors to early-stage startups and Small and Medium-sized Businesses, leveraging Deloitte's national brand and extensive reach to enhance our services," says Raymond Luk, Founder of Flow. "We are excited for our clients to access a comprehensive suite of services as they scale. This positions us to deliver even more value to clients and to grow alongside them."
About Deloitte Canada's Gi3 practice
Deloitte's Gi3 practice is at the forefront of building sustainable and vibrant communities where investments and innovation flourish. With a dedicated team of over 150 practitioners in Canada, and 1100 globally, Gi3 plays a pivotal role by informing government policy, fostering collaborations with funding agencies, and providing crucial support to clients in securing various forms of non-dilutive funding. We are committed to empowering innovators and operators, and driving positive change where innovation comes to life.
About Deloitte Canada
Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500 companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients' most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Our global Purpose is making an impact that matters. At Deloitte Canada, that translates into building a better future by accelerating and expanding access to knowledge. We believe we can achieve this Purpose by living our shared values to lead the way, serve with integrity, take care of each other, foster inclusion, and collaborate for measurable impact.
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