$950-million initiative will help grow the economy
OTTAWA, May 24, 2017 /CNW/ - Canadians will benefit from the well-paying middle-class jobs that will be created as a result of a $950-million initiative designed to jumpstart innovation in high-growth sectors.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, today launched an initiative to select up to five innovation superclusters that will qualify for this historic investment from the Government of Canada.
This program, a centrepiece of the Government's Innovation and Skills Plan, represents a federal investment in innovation on a scale that has never been seen in Canada. The purpose of this initiative is to create more middle-class jobs and more opportunities for Canadian businesses to grow into globally successful brands.
Successful proposals will be evaluated based on their strategy for creating and growing new companies, creating jobs that require advanced skill sets, equipping Canadians with the knowledge and skills for the jobs of the future, attracting private investment and generating meaningful economic activity that leads to prosperity for Canadians.
"The historic superclusters initiative announced today will create well-paying middle-class jobs and help grow the economy. Our government's Innovation and Skills Plan will equip Canadians with the skills they need for the jobs of today and tomorrow, and this investment in innovation will create those jobs."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
- Superclusters are dense areas of business activity where innovation happens and where many of the middle-class jobs of today and tomorrow are created. They attract large and small companies that collaborate with universities, colleges or not-for-profit organizations—forming a consortium—to turn ideas into solutions that can be brought to market.
- This initiative will select up to five superclusters that accelerate Canada's global advantage in highly innovative industries such as advanced manufacturing, agri-food, clean technology, digital technology, health/biosciences, clean resources, as well as infrastructure and transportation.
- Applications for funding under the program must be submitted by either a Canadian company or an international company with operations in this country that is leading the consortium. Each business-led consortium must include companies of all sizes as well as post-secondary institutions or not-for-profit organizations.
- To be eligible for funding, each consortium must be incorporated as a not-for-profit organization governed by a board of directors.
- Each business-led consortium must commit to matching dollar for dollar the amount it is requesting under this initiative.
- The application process consists of two phases. The first phase involves submitting a letter of intent by July 21, 2017. From there, a shortlist of applicants will be invited to prepare a full application.
Follow Minister Bains on Twitter: @MinisterISED
SOURCE Innovation, Science and Economic Development Canada
For further information: Karl W. Sasseville, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, firstname.lastname@example.org