Strategic Innovation Fund
Support to Canada's Steel and Aluminum Sectors
As announced on June 29, 2018, and in response to additional tariffs imposed by the United States, the Government of Canada will offer up to $250 million in new support through the Strategic Innovation Fund to help bolster the competitiveness of Canadian manufacturers and better integrate the Canadian supply chain of steel and aluminum. Find out more about this announcement here: Canada stands up for our steel and aluminum workers and industry
Changes to the Strategic Innovation Fund
As announced in late February 2018, in the federal budget, the Strategic Innovation Fund will now focus its support on larger projects (over $10 million in requested contribution). If you submitted an application for a smaller project prior to Budget 2018, your application remains valid and will be assessed. Also, be advised that a new Statement of Interest (SOI) form is currently available and should now be used to submit your application.
Stream 4 of the Strategic Innovation Fund will be accepting Statements of Interest (SOI's) from Consortia and Networks applying data capabilities in the health and biosciences sector. This competition is open from June 28, 2018 to August 31, 2018. Subsequent competitions will be held and will include other sectors.
A simpler, more flexible tool to grow Canada's economy
The Strategic Innovation Fund allocates repayable and non-repayable contributions to firms of all sizes across all of Canada's industrial and technology sectors. The program has a budget of $1.26 billion over five years. It consolidates and simplifies the Strategic Aerospace and Defence Initiative, Technology Demonstration Program, Automotive Innovation Fund and Automotive Supplier Innovation Program.
The Strategic Innovation Fund's objective is to spur innovation for a better Canada. Specifically, it serves to simplify application processes, accelerate processing, and provide assistance that is more responsive and focused on results.
The program has four Streams, each with its own precise objective:
- 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 the private sector, researchers and non-profit organizations.
Why this program is important
Making sure that Canada is a top destination for businesses to invest, grow and create jobs and prosperity for Canadians is one of the Government's top priorities.
The program is part of the Innovation and Skills Plan—our way to create jobs and strengthen the middle class by helping Canada's highly skilled workforce develop the skills they need to evolve and keep up with the demands of a changing workplace.
The Strategic Innovation Fund will attract and support new high-quality business investments. In allocating this funding, we will look to accelerate areas of economic strength, strengthen and expand the role of Canadian firms in regional and global supply chains, support economic strategies, and attract investment that creates new, good, well-paying jobs.
Telephone (toll-free in Canada): 1-800-328-6189
Telephone (Ottawa): 613-954-5031
TTY (for hearing-impaired): 1-866-694-8389
Business hours: 8:30 a.m. to 5:00 p.m. (Eastern Time)
By mail: Strategic Innovation Fund (SIF)
C.D. Howe Building
235 Queen Street, 1st floor, West Tower
Ottawa, ON K1A 0H5
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