The Strategic Innovation Fund allocates repayable and non-repayable contributions to firms of all sizes across all of Canada’s industrial and technology sectors. The program has a budget of $1.26 billion over five years. It consolidates and simplifies the Strategic Aerospace and Defence Initiative, Technology Demonstration Program, Automotive Innovation Fund and Automotive Supplier Innovation Program.
The Strategic Innovation Fund’s objective is to spur innovation for a better Canada. Specifically, it serves to simplify application processes, accelerate processing, and provide assistance that is more responsive and focused on results.
The program has four Streams, each with its own precise objective:
- 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; and
- Stream 4: Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.
Why this program is important
Making sure that Canada is a top destination for businesses to invest, grow and create jobs and prosperity for Canadians is one of the Government’s top priorities.
The program is part of the Innovation and Skills Plan—our way to create jobs and strengthen the middle class by helping Canada’s highly skilled workforce develop the skills they need to evolve and keep up with the demands of a changing workplace.
The Strategic Innovation Fund will attract and support new high-quality business investments. In allocating this funding, we will look to accelerate areas of economic strength, strengthen and expand the role of Canadian firms in regional and global supply chains, support economic strategies, and attract investment that creates new, good, well-paying jobs.
Telephone (toll-free in Canada): 1-800-328-6189
Telephone (Ottawa): 613-954-5031
TTY (for hearing-impaired): 1-866-694-8389
Business hours: 8:30 a.m. to 5:00 p.m. (Eastern Time)
By mail: Strategic Innovation Fund (SIF)
C.D. Howe Building
235 Queen Street, 1st floor, West Tower
Ottawa, ON K1A 0H5