Government launches Automotive Supplier Innovation Program to support new product development
June 3, 2015 – Windsor, Ontario – Industry Canada
At the opening of the Automotive Parts Manufacturers' Association 2015 Annual Conference and Exhibition, the Government of Canada announced the launch of the Automotive Supplier Innovation Program (ASIP). As of today, the Government will accept applications for contributions under the new program. The fund will support innovation by encouraging important new investments in automotive-sector activities such as prototype development, process engineering and product testing.
As manufacturers look to meet demands for fuel-efficient vehicles with sophisticated technologies, opportunities are arising to develop and supply components to satisfy this need. In order to stay competitive, automotive suppliers, many of which are small and medium-sized enterprises, are looking to make new product development the cornerstone of their business strategies.
ASIP will provide contributions to support technology demonstration and prototyping activities to facilitate Canadian innovation, ensuring that Canadian suppliers are able to compete and win business globally. Through a five-year, $100-million commitment announced in Economic Action Plan 2015, this program helps Canadian suppliers—primarily small and medium-sized businesses—bring transformative ideas in their early stages to the marketplace, so that Canadian-made components find their place in the global value chain of automotive manufacturers.
Office of the Minister of Industry