$1.26B strategic innovation fund to boost business investment
Open to all industries and support R&D, growth, attracting investment and new technologies collaborations.
MONTREAL — The Trudeau government is counting on a $1.26 billion fund to fuel innovation by attracting high-value business investment.
The Strategic Innovation Fund is a new program aimed at stimulating investments across all sectors of the economy.
It’s open to all industries and will support four types of activities:
• research, development and commercialization of new products and services
• growth and scale-up of high-potential firms
• attraction of new investments to Canada, which will expand business opportunities and create jobs for Canadians
• public-private collaborations that develop and demonstrate new technologies
The fund is part of the government’s Innovation and Skills Plan.