Investing in Regional Innovation and Development

Backgrounder

Regional Development Agency Contribution to the Innovation and Skills Plan

PDF version: Investing in Regional Innovation and Development (99 KB, 1 page)



Investing in Regional Innovation and Development
Regional Innovation Ecosystems Investment in and Scale-Up of Firms Clean Growth Community Economic Development & Diversification
Priorities Grow and nurture inclusive regional innovation ecosystems Invest in and support businesses and high growth firms, to assist them in scaling up and becoming world-class players Invest in products, processes and services that improve environmental performance in support of sustainable development and clean economic growth Respond to the unique needs of individual regions and communities to support economic development and diversification
Commitments

Invest $1.5 billion over 5 years in strengthening regional innovation ecosystems, through cluster support, and SME tech adoption

Support at least 3-5 regional clusters by 2020

Nominate 50 firms across the country for the Accelerated Growth Service Invest $100 million nationally each year in clean technology

Building on the success of the Atlantic Growth Strategy, implement regional growth strategies with local targets to support economic development and diversification

250 Indigenous projects supported over 5 years to develop assets or diversify their economy

Delivery

Client Service

Direct delivery of RDA programs, pathfinding support and a single point of access for both RDAs and federal programs/services in respective regions

Provide acknowledgement of application within 48 hours for RDA programs, and number of referrals to appropriate federal economic programs or services

Collaboration, Engagement & Partnership

FPT Collaboration, Can-US Relations, Joint Strategic Investments

Achieve a leverage ratio of 2.2 for every federal dollar invested

Results
  • More Innovative Regional Economies
  • Greater Commercialization
  • SME Growth
  • More Canadian firms with global scale
  • Greater competitiveness
  • More Canadian clean technology firms with global scale
  • Reduced Environmental Impact
  • Clean Economic Growth
  • Resilient Communities
  • Inclusive Growth
  • Opportunities for Indigenous Peoples
Growth for the middle class in all regions of Canada

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