OTTAWA, ON, March 13, 2025 /CNW/ - Since its launch in 2017, the Strategic Innovation Fund (SIF) has supported collaboration between businesses, research institutions and non-profit organizations to drive growth in key emerging technology sectors. It funds business-led projects in areas where Canada has an economic advantage, such as cleantech, life sciences, agriculture/agri-food, mining and aerospace. Over the years, SIF networks have supported over 750 small and medium-sized enterprises (SME) that have created over 1,200 jobs and attracted over $1.7 billion in investment.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced additional funding to five SIF networks to attract large-scale investments to Canada. This additional funding will give the high-performing networks the opportunity to strengthen their ecosystems and support additional projects, with a particular focus on growing SMEs in Canada:
- The Canadian Food Innovation Network (CFIN) is receiving an additional $8.6 million to accelerate cutting-edge research and development in food processing and production technologies. Since April 2021, CFIN-funded companies have created over 350 new jobs and leveraged $21 million in private sector investment.
- The Canadian Agri-Food Automation and Intelligence Network (CAAIN) is receiving an additional $8 million to help agricultural producers and the agri-food value chain boost productivity through automation and artificial intelligence. Since July 2019, CAAIN has supported the creation and maintenance of over 500 high-quality jobs and leveraged $67.6 million in private-sector investment.
- The Clean Resource Innovation Network (CRIN) is receiving a $10 million investment to accelerate the development and adoption of innovative technologies and processes that aim to lower the oil and gas industry's environmental impacts. Since July 2020, CRIN has supported the creation of over 200 jobs and leveraged $150 million in private sector investment.
- Natural Products Canada (NPC) is receiving an additional $5 million to accelerate the innovation and commercialization of products in the bioeconomy that support human, animal and plant well-being. Since August 2021, NPC has supported the creation of over 130 new jobs and leveraged nearly $15 million in private sector investment in its projects.
- The Mining Innovation Commercialization Accelerator (MICA) is receiving a $5 million investment to contribute to innovation and modernization efforts in mining, strengthen industry supply chains, and increase the domestic and export sales of new products. Since January 2021, MICA has created and maintained over 435 jobs and mobilized investments of approximately $170 million from the private sector.
Quotes
"Our government has long valued the expertise of the private sector and research institutions, which is why we launched SIF to drive innovation and strengthen the Canadian economy. By boosting investments in areas with a high performance record and with strong growth potential, we're securing high-paying Canadian jobs and positioning our industries to thrive in the rapidly evolving technology landscape. We are positioning Canada as a global economic leader and paving the way for success for generations to come."
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
"Investing in innovation means investing in good jobs, economic growth, and a more competitive Canada. This additional funding for Strategic Innovation Fund networks will strengthen key industries, drive technological advancements, and create new opportunities for businesses and workers across the country. By supporting collaboration between businesses and research institutions, we are equipping Canadian innovators with the tools they need to lead globally in clean tech, agri-food, mining, and beyond."
– Marc G. Serré, Member of Parliament for Nickel Belt, Ontario and Parliamentary Secretary to the Minister of Energy and Natural Resources
Quick facts
- SIF has contributed nearly $1.1 billion to support 14 networks in key emerging technology sectors, which have in turn funded over 750 small and medium-sized enterprises through nearly 650 collaborative projects. These networks, listed below, have leveraged over $1.7 billion in additional funding from the private sector and other sources, attracted over 17,000 members to their respective innovation ecosystems and created over 1,200 jobs:
- Conscience Open Science Drug Discovery (OSDD) Network
- Centre of Excellence in Next Generation Networks (CENGN)
- Fabrication of Integrated Components for the Internet's Edge (FABrIC)
- Canadian Medical Isotope Ecosystem (CMIE)
- Initiative for Sustainable Aviation Technology (INSAT)
- envisAGE
- Natural Products Canada (NPC)
- Mining Innovation Commercialization Accelerator (MICA)
- Clean Resource Innovation Network (CRIN)
- Canadian Agri-Food Automation and Intelligence Network (CAAIN)
- Canadian Food Innovation Network (CFIN)
- Digital Health and Discovery Platform (DHDP)
- INOVAIT
- Evolution of Networked Services through a Corridor in Quebec and Ontario for Research and Innovation (ENCQOR)
Associated links
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Contacts: Audrey Milette, Acting Director of Communications, Office of the Minister of Innovation, Science and Industry, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, [email protected]
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