Funding Offers Up to 75% of Costs to Form Partnerships
Innovation Superclusters Initiative: Funding for Innovative Canadian-led Growth and Development
The Innovation Superclusters Initiative (ISI) will provide funding of up to 75% to a maximum of $200 million over five years time to five superclusters within Canada. The purpose of ISI is to help accelerate the growth and development of business-led innovation within Canada. The ISI will contribute to not-for-profit entities led by an industry undergoing the following activities:
- Building a shared competitive advantage for their cluster that attracts cutting-edge research, investment and talent leading to a position of a world-leading innovation hotbed;
- Increasing business expenditures on R&D, and advancing a range of innovations and technological leadership activities leading to strong Canadian sectors of economic strength;
- Generating new companies, commercializing new products, processes and services which position firms to scale, integrate into global value chains, and lead to becoming global market leaders; and
- Fostering growth-oriented firms, bolstering collaboration between private, public and academic organizations pursuing private-sector led innovation to enhance the cluster’s pool of resources, capabilities and knowledge.
Funded eligible costs include costs to which ISI will make a financial contribution as established by the agreement with the applicant. These costs include administration and operating costs that support the day-to-day operations of the applicant entities. Such expenses include: salaries for staff, marketing costs, travel costs, recruitment and networking costs, and general operational costs such as maintenance, purchasing materials and supplies. Costs incurred which directly relate to the activities undertaken to execute a Supercluster strategy are also eligible for funding. These costs include: portion of gross wage, salaries or contracts incurred, equipment, facility and supplies (purchase, rental, operation, and maintenance costs), room or facility rentals, materials, and travel costs. The ISI is intended to be a partnership between government and industry. Therefore, any funding allocated by the Supercluster toward completion of projects must be matched 1:1 overall by industry contributions. The remaining eligible administration and operating costs (minimum 25%) can be met by industry, other levels of government, and/or not-for-profit contributions. Up to 25% of the industry match may be in-kind contributions. To apply for funding from ISI, applicants must form a consortium consisting of 2 large businesses, 1 medium business, 1 small business, and 1 post-secondary institution. Participants in the consortium must be organizations incorporated in Canada and active in Canada. Superclusters may be partnered anywhere in Canada; however, the lead applicant is required to define a region, and reason for partnership. To apply for funding through ISI, applicants are required to undergo a two-phase application process. Phase 1 of the process involves all applicants writing a letter of commitment which will be reviewed by Innovation, Science and Economic Development Canada (ISED). Successful applicants will then be invited to partake in phase 2 of the application process, which involves a full Innovation Superclusters Initiative application. The deadline for phase 1 is July 21, 2017 12pm Eastern Daylight Time.
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