Ensuring Canada's place as a top destination for businesses to invest, grow and create jobs
Wednesday, June 5, 2019 2:17:00 PM
- Government of Canada now accepting applications to fund large-scale, collaborative innovation initiatives.
The Government of Canada is committed to ensuring Canada's place as a top destination for businesses to invest, grow and create jobs. To help achieve this, the Government is investing in innovation ecosystems that bring together expertise, knowledge and resources from Canada's most dynamic sectors to support competitiveness and economic growth.
Today the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced that applications are now being accepted under a new stream of the Strategic Innovation Fund. This is the fifth stream and is focused on supporting national ecosystems. It will support large-scale initiatives that create high-impact collaborations to support Canadian innovation ecosystems.
"Our government is investing in national innovation ecosystems that are bringing together Canada's best companies, researchers and incubators. Together, we will build on our many strengths to accelerate commercialization, develop new technologies, scale up businesses and create more jobs right across the country."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
Funding under this stream will be awarded to not-for-profit organizations or for-profit corporations that lead collaborations with small and medium-sized enterprises (SME), large corporations, academia, not-for-profit organizations, and accelerators/incubators. Successful projects will support industrial research and technology demonstration, with the goal of accelerating commercialization and scaling up businesses in Canada's most innovative sectors.
It is expected that successful projects will result in the commercialization of new and improved products, processes or services; more research and development; and more highly skilled jobs for Canadians.
Applications to the new stream are now being accepted on a continuing basis. There are no submission deadlines.
- The Strategic Innovation Fund is a program designed to attract and support high-quality business investments in Canada's most dynamic and innovative sectors.
- To date, the Strategic Innovation Fund has contributed nearly $1.3 billion to 46 projects, leveraging an investment of $15.3 billion and helping to create nearly 56,000 jobs.
- In addition to the Strategic Innovation Fund, there are hundreds of programs and services to help businesses innovate, create jobs and grow Canada's economy. With a simple, story-based user interface, the Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.