The Strategic Innovation Fund offers Canadian industrial and technology-based businesses with financial support to fuel company expansion and R&D of products, processes, and services. Specifically, it accelerates technology transfer and commercialization of innovative products, processes and services; facilitates the growth and expansion of firms in Canada; attracts and retains large-scale investments to Canada; and advances industrial R&D through collaboration between academia, non-profits and the private sector.
- Amount: Up to 50% of eligible project costs with a minimum funding request of $10 million. Type of financial support awarded is at the discretion of the program; this can consist of a combination of repayable financial support and/or financial reimbursements.
- Timeline: Open. Streams 1-3 on continuous intake and stream 4 on annual intake dates; next deadline is August 31, 2018. Successfully funded projects may take up to five years to complete.
- Eligibility: Incorporated Canadian businesses with high growth potential and the ability to drive innovation. Projects should incur eligible expenses of at least $20 million.
Top Strategic Innovation Fund Resources:
- Strategic Innovation Fund Overview: Learn the basics of SIF, including companies and project types eligible for funding, and how to apply.
- Strategic Innovation Fund Eligibility Criteria: Discover how to qualify for the Strategic Innovation Fund, including what types of applicants are accepted, priority project types, and what kinds of expenses can be submitted for funding.
- SIF for Research Consortiums and Non-Profit Networks: Learn more about SIF’s fourth stream devoted to collaborative research and development projects.
- Strategic Innovation Fund: Research Consortiums and Networks Stream
- Strategic Innovation Fund Awards Toyota $110M in Automotive Grants
- Budget 2018 Streamlines Funding Programs for Business Innovation
- Strategic Innovation Fund Awards $41M for Automotive Research Projects
- Strategic Innovation Fund Awards $1.1M to Lakeside Plastics Ltd.
Posted: July 7, 2017 by Jeff Shepherd. Updated: July 13, 2018 by Jeff Shepherd.