Government launches Strategic Innovation FundJuly 11, 2017
Last week the federal government announced the launch of the Strategic Innovation Fund (SIF), a program designed to attract and support business investment into Canadian innovation and R&D. With a budget of $1.26B over five years, the program will allocate repayable and non-repayable contributions to firms of all sizes across all of Canada’s industrial and technology sectors.
The SIF, which was included in the most recent federal budget, consolidates a number of previous funding programs including the Strategic Aerospace and Defence Iniatitive (SADI) and the Technology Demonstration Program (TDP).
The program has four Streams:
- Stream 1: Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;
- Stream 2: Facilitate the growth and expansion of firms in Canada;
- Stream 3: Attract and retain large scale investments to Canada; and
- Stream 4: Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.
This program offers significant opportunities to Canadian aerospace firms of all sizes. The government is currently accepting feedback and proposed ideas through the SIF portal, and we encourage members to actively participate in this opportunity. We would be happy to talk with you directly about how you can best take advantage of this program.
We will be keeping our members informed of any new developments and additional details with regard to the program’s launch and roll-out. We will also be providing regular briefings to our Innovation & Technology Committee, which is open to all members.
If you have any questions or feedback, please do not hesitate to contact Guillaume Côté, Vice President, Innovation & Technology.