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Strategic Innovation Fund

Value

$1.26 Billion + in funding over five years. Funding requests of $10million+

Description

Strategic Innovation Fund supports Canada as a top destination for businesses to invest through five 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;
  • Stream 4: Advance industrial research, development and technology demonstration through collaboration between the private sector, researchers and non-profit organizations; and
  • Stream 5: Support large-scale, national innovation ecosystems through high impact collaborations across Canada.

Eligible Applicants

  • Streams 1,2 and 3
    • For-profit corporations incorporated pursuant to the laws of Canada and proposing to carry on business in Canada.
  • Stream 4
    • Consortiums that may include Canadian universities, colleges, research institutes, for-profit corporation and/or not-for-profit entities. The Lead Applicant must be incorporated pursuant to the laws of Canada, and carry on business in Canada.
    • Networks ─ the Lead Applicant must be a not-for-profit organization incorporated in Canada.
  • Stream 5
    • Networks ─ the Lead Applicant must be a non-profit or for-profit organization incorporated in Canada.

Further considerations regarding eligibility can be found on the link indicated below.

Eligible Expenses

SIF projects are assessed based on the potential benefits to Canada, including: the creation and commercialization of new intellectual property in Canada; development of new and improved products, services or processes; collaboration between post-secondary institutions, NGOs, indigenous communities and other private sector firms; and significant R&D creating technology with the potential for market disruption.

Eligible costs are limited to non-recurring costs that are specifically related to the project, including:

  • direct labour
  • overhead (program limits apply)
  • subcontracts and consultants
  • direct materials and equipment
  • other direct costs
  • land and buildings

Repayments will be performance-based and reflect a risk-sharing approach. Non-repayable contributions will only be considered for eligible activities that demonstrate strong economic, innovation and public benefits with clear strategic value or global significance.

Deadline Date

  Ongoing

Contact

Contact Name: Invest in Canada

Website: https://www.investcanada.ca/incentives-programs/strategic-innovation-fund

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