Grant Supports Commercialization of New Products, Processes and Services
Funding Offered for Projects Costing $20 Million or More
The Strategic Innovation Fund: National Ecosystems Stream (SIF) offers up to 50% grant funding towards the development and commercialization of innovative products, process, and services to facilitate collaboration, sector growth and business scale-up. Activities must be undertaken by two or more project partners (such as universities, businesses, not-for-profits), and lead to improved business competitiveness, expansion and/or the advancement of new technologies. Applications will be assessed under the following criteria:
- Level of innovation
- Economic benefits
- Resulting benefits for Canadians
Only projects requesting funding of $10 million or more will be supported by SIF. Eligible costs include project-related direct labour, overhead, subcontracts, consultants, direct materials, equipment and land/building purchases Please note that securing SIF funding may reduce an applicant’s claim for Science Research and Experimental Development (SR&ED) tax credits as well as other federal funding. Additionally, it is recommended that an applicant investigates any additional tax implications prior to accepting SIF funding.
Comments are closed