Innovation funding competition will help create jobs, spur the growth of Canadian companies and lead to more health solutions that benefit Canadians
OTTAWA, June 28, 2018 /CNW/ - The Government of Canada is committed to maintaining and creating good middle-class jobs, growth and long-term prosperity and to promoting innovation and global competitiveness by investing in initiatives at the intersection of data and Canada's health and biosciences sector through programs such as the Strategic Innovation Fund.
Data capabilities are increasingly enabling advances in health and biosciences research. These advances have the potential to dramatically improve the delivery of health services, providing a better quality of life for Canadians while accelerating the growth of Canadian companies and the pace of innovation in Canada.
The Strategic Innovation Fund is designed to attract and support high-quality business investments across all sectors of the economy by encouraging R&D that will accelerate technology transfer and the commercialization of innovative products, processes and services and will facilitate the growth of innovative firms.
Through the Strategic Innovation Fund, the Government has invested in innovative projects across Canada's high-growth sectors. From STEMCELL Technologies' project to build a first-of-its kind regenerative medicine manufacturing facility to Alcoa and Rio Tinto's project to eliminate all greenhouse gases from the aluminum smelting process, the Strategic Innovation Fund is helping make Canada a global innovation leader.
Canada is recognized for its strengths in data and in the health and biosciences sector. That's why the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, today announced a new competition under the Strategic Innovation Fund that will invest in business-led consortia and networks that are working at the intersection of data and solutions in the health and biosciences sector.
"Canadians working at the intersection of data and the health and biosciences sector are breaking new ground and advancing world-changing innovations. Through this new Strategic Innovation Fund competition, our government will invest in the most promising projects that will turn those innovations into well-paying jobs for Canadians. This is how, with the Strategic Innovation Fund, we're investing in innovation today for the jobs of tomorrow."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
- Consortia and networks that are working at the intersection of data and the health and biosciences sector will have until August 31, 2018, to submit a statement of interest for funding under this competition.
- The Strategic Innovation Fund is a $1.26-billion program that spurs innovation throughout Canada in a variety of sectors.
- The Strategic Innovation Fund is also open to applications for innovation activities under the following streams:
- 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
- The Strategic Innovation Fund is focused on providing funding to innovative sectors including advanced manufacturing, agri-food, clean technology, clean resources, digital industries, and health and biosciences.
- In addition to the Strategic Innovation Fund, there are hundreds of programs and services to help businesses innovate, create jobs and grow Canada's economy. With a simple, story-based user interface, the new Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.
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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, [email protected]