Government of Canada launches Strategic Innovation Fund

$1.26-billion fund will attract high-quality business investments leading to more jobs, skills and opportunities for Quebecers

MONTRÉAL, July 12, 2017 /CNW/ - Quebecers will benefit from new jobs, skills and business opportunities as a result of a $1.26-billion investment by the Government of Canada. 

Today, David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, highlighted the launch of the Strategic Innovation Fund. The fund is a new program to attract and support high-quality business investments across all sectors of the economy. 

This fund is open to all industries and will support four types of innovation 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 in developing and demonstrating new technologies

The projects supported by this fund will provide Canadians with the opportunities they need for well-paying jobs now and into the future.

This fund is part of the Government's Innovation and Skills Plan, a multi-year strategy to create well-paying jobs for the middle class and those working hard to join it.

Quote

"Quebec is home to many hotbeds of innovation that drive the province's economy. Our government is making smart and responsible investments in sectors where Quebec has globally competitive advantages that will create jobs and business opportunities that will benefit all Quebecers. The Strategic Innovation Fund reflects the diversity of innovative sectors that exist in Canada and encourages cross-sector partnerships. This fund is an investment in jobs and skills training for Canadians. Putting Canada at the forefront of innovation will equip Canadians with the in-demand skills they need for well-paying middle-class jobs now and into the future."
David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development

Quick facts

  • The Strategic Innovation Fund is a flexible program that reflects the diversity of innovation in all sectors of the economy.
  • The fund has a common set of terms and conditions that apply to all sectors, making it easier for companies to access.

Associated link

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, ic.mediarelations-mediasrelations.ic@canada.ca

RELATED LINKS
http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home

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