MONTÉAL, Quebec, September 20, 2005 -- The Honourable David L. Emerson, Minister of Industry, today announced that the government will introduce a new program to support innovation and technology adoption in Canada, replacing the Technology Partnerships Canada (TPC) program.
"We needed a program that was accessible to more industries, tightly focused on the transformative technologies that will build a more competitive economy, and more transparent to taxpayers. With the new program we will achieve these goals," said Minister Emerson.
The government will be launching a new program, the Transformative Technologies Program, which will share with Canadian industry in the costs of innovation and technology adoption projects. Its goal is to ensure that leading-edge industrial research continues to occur in Canada and that Canadian firms are competitive in the global economy. This program is not intended to compete with our financial markets and institutions. Its measure of success will not be cost recovery but sharing the risks of innovation.
The new Transformative Technologies Program (TTP) will be open to all industry sectors and to all technologies, with greater access for small and medium-sized companies. The principles of good governance, accountability, transparency and due diligence will be embodied in the new program. Expert panels, which will include private sector representatives, will assess project outlines for innovativeness and market relevance. As well, review criteria and set repayment options will be posted on the Internet. Minister Emerson noted that his department will be seeking independent advice to ensure that the program design meets these principles.
The Minister said that the existing TPC R&D program will be phased out and that he intends to proceed with a national aerospace sector strategy in the coming weeks. The Minister also confirmed that funding for the aerospace and defence sector will continue at the current level. "The companies in our aerospace industry are leading anchors for innovation in this country," he stated.
For more information, please contact:
Christiane Fox
Office of the Honourable David L. Emerson
Minister of Industry
(613) 995-9001
Media Relations
Industry Canada
(613) 943-2502
The news release and other documents are available on the Technology Partnerships Canada Web site at http://www.tpc-ptc.ic.gc.ca.
