Canada boosts Business Innovation Fund to $994m
Posted on 05 April, 2017 by Chris Winters, reporter
Sectors such as digital industries, life sciences and cleantech are set to benefit from an additional $447m allocated to the Business Innovation Fund.
The government of Canada has outlined the next steps for its Innovation and Skills Plan, including an additional C$200m ($149m) for the Strategic Innovation Fund over a three year period, bringing it to C$1.26bn.
The fund is aimed at creating well-paying skilled jobs for the country’s middle class in aerospace and automotive firms, and will be expanded to manufacturing, agriculture, clean technology, digital industries, health and biosciences, and clean resources over a three year period.
The additional capital was announced in the government’s budget for 2017, which also unveiled a focus on artificial intelligence and the creation of superclusters.
Harjit Sajjan, minister of national defence, said: “With the new Strategic Innovation Fund, the government is expanding its capacity to support high-growth sectors across the economy in which Canada has a globally competitive advantage.
“This new fund will build on our innovative talents, streamline program delivery and help Canadian businesses to continue creating high-quality jobs for the future.”
See more from this Government Report: Canada
Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.
Latest magazinePast Issues
Get full online access, the monthly magazine, weekly news alerts, special reports and more.See all subscription options
April 06, 2017
April 03, 2017
April 13, 2017
April 05, 2017
April 13, 2017