The Strategic Innovation Fund (SIF) is a federal funding initiative aimed at enhancing Canada’s industrial and tech sectors. It provides repayable and non-repayable contributions covering up to 50% of eligible project costs. Funding decisions and contribution types are determined individually during the review process. Projects must align with one of five funding streams: (1) research, development, and commercialization; (2) business growth and scaling; (3) attracting and retaining investment; (4) collaborative technology development and demonstrations; or (5) strengthening national innovation ecosystems.
The Strategic Innovation Fund program offers financial contributions (both repayable and non-repayable) valued up to 50% of project costs. Projects must request at least $10 million in funding, implying a minimum total project size of $20 million.
Although the Strategic Innovation Fund’s eligibility criteria is fairly open to all businesses, potential applicants should keep in mind that this is an extremely competitive program. While your company may be eligible for funding, it must also demonstrate high growth potential and the ability to drive innovation, in addition to the following considerations:
The Strategic Innovation Fund offers five streams of project funding, including Canadian government funding for:
This stream offers funding for the research, development, and market commercialization of innovative technologies. All activities performed must focus on progressing the innovation’s development, which may have a current technology readiness level (TRL) of 1-9. Projects may include (but are not limited to):
Stream two of the Strategic Innovation Fund provides innovation funding for the expansion and material improvement of existing industrial or technological facilities. Activities should be aimed at increasing productivity and efficiencies, ultimately leading to higher competitiveness. At this stage, businesses should have well-developed products and processes and be performing activities within a TRL of 8-9. Projects may include (but are not limited to):
The third stream of SIF offers support for new investments in Canadian industrial or technological facilities. The main objective is to support large-scale investments that may have not otherwise been made in Canada, and will be used to support the continued development of Canada’s most innovative businesses. Companies must achieve a TRL of 2 or higher to apply; projects may include (but are not limited to):
The fourth Strategic Innovation Fund stream supports collaborative research, including activities related to the discovery or demonstration of new knowledge. In partnership with academic institutions and non-profits, the stream will provide funding for new technology-driven products, processes or services at a technology readiness level of 1-7. Projects may include (but are not limited to):
The Strategic Innovation Fund’s National Ecosystems stream supports collaborative research activities led by a for-profit business or non-profit organization in partnership with many other businesses, non-profits, and academic institutions. While all technologies (TRL 1-9) may be considered for funding, this stream is ideally situated to support later-stage projects that have a focus on commercialization. Projects may include (but are not limited to):
Funding covers non-recurring costs, including:
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