The Strategic Innovation Fund (SIF) is a program that was launched in 2017. It provides repayable and non-repayable contributions to support four distinct Streams of activities:
Stream 1: Encourage research and development (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 in Canada; and
Stream 4: Advance industrial research, development, and technology demonstration through collaboration between academia, non-profit organizations, and the private sector.
The Strategic Innovation Fund focuses its support on larger projects that are over $10 million in requested contribution.
Streams 1, 2 and 3:
The Applicant must be a for-profit corporation—small, medium or large-sized—proposing to carry on business in Canada in the industrial and/or technology sectors. You can receive up to 50% of total eligible costs or a requested contribution starting at $10 million in funding.
Applicants are a consortium that may include Canadian universities, colleges, research institutes, for-profit corporations (including SMEs) and/or not-for-profit entities operating in the industrial and/or technology sectors. You can receive up to 50% of total eligible costs.
Networks in the industrial and/or technology sectors are also eligible for this stream and can receive up to 100% of eligible costs. Stream 4 contributions are all non-repayable and you can receive a contribution starting at $10 million in funding.
Each Stream has its own criteria as to what is an eligible project.
Stream 1—R&D and Commercialization
The project must involve activities related to the research, development, and commercialization of innovative products, processes and/or services. For example, projects could focus on:
- R&D to test the commercial potential of an early TRL concept or finding;
- Development of current products through the implementation of new technology that will enhance the Recipient’s competitive capability
Stream 2—Firm Expansion and Growth
The project must support the expansion or material improvement of existing industrial or technological facilities, or projects. For example, projects could focus on:
- Increasing manufacturing capacity to meet demonstrated market demand;
- Improving production efficiency through improvements to plant and equipment; or
- Improving processes to increase efficiency
Stream 3—Investment Attraction and Reinvestment
The project must support new investment in industrial or technological facilities in Canada. For example, projects could focus on:
- A Canadian company establishing a new production facility which did not previously exist in Canada;
- Obtaining a production mandate for a product which was previously produced outside Canada or is being produced for the first time
Stream 4—Collaborative Technology Development and Demonstration
The project must support industrial research, including activities related to the discovery of new knowledge that aims to support the development of new technology-driven products, processes or services at early-stage technology readiness levels;
- Development by a lead Tier 1 original equipment manufacturer company of a potential new product utilizing academic research findings, conjunction with SME suppliers and research councils
Further stream specific information can be obtained through EVAMAX GROUP, get a FREE consultation.
Eligible costs are limited to non-recurring costs that are specifically related to the project, this includes:
- direct labour
- overhead (program limits apply)
- subcontracts and consultants
- direct materials and equipment
- other direct costs
- land and buildings
For assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process. You may also email us at email@example.com or call 1-877-711-7733.