What Does Global Innovation Clusters Fund?
The Global Innovation Clusters (GIC) program stands as a significant initiative designed to boost innovation and growth across various Canadian industries by providing financial assistance through strategic collaborations. With a focus on multiple sectors such as digital technologies, plant proteins, advanced manufacturing, AI in supply chains, and oceans, the program facilitates large-scale projects that can transform and strengthen Canada's economic landscape.
Program Funding Overview
The GIC program provides substantial financial support to foster collaboration among businesses, academic institutions, and non-profits. It primarily aims to:
Accelerate innovation and economic growth through co-investment.
Establish self-sustaining ecosystems.
Enhance Canada's competitive edge in global markets.
Funding Amounts & Rates
Each cluster within the program receives significant funding to support its operations and projects. The financial allocations include:
Digital Technology Cluster: Up to $298 million.
Protein Industries Cluster: Up to $323 million.
Advanced Manufacturing Cluster: Up to $427 million.
Scale AI Cluster: Up to $284 million.
Ocean Cluster: Up to $278 million.
These investments are part of a broader $2 billion strategy over ten years, encouraging dollar-for-dollar matching from industry partners.
Eligible Expenses
The GIC program covers a wide array of expenses to ensure comprehensive support for innovation projects:
Research and Development
Costs associated with experimental development and applied research.
Salaries for researchers and technical staff involved in project execution.
Technology and Equipment
Purchase and installation of necessary equipment.
Software development and acquisition costs.
Training and Workforce Development
Expenses related to upskilling and reskilling employees.
Participation in workshops and formalized training programs.
Intellectual Property (IP) Management
Costs for securing patents and other IP rights.
IP strategy development and management expenses.
Collaboration and Networking
Travel and meeting costs for project coordination.
Expenses for collaborative events and industry seminars.
Ineligible Expenses
While the GIC program offers broad funding coverage, some expenses are not eligible:
General business operating expenses not directly related to the project.
Marketing and sales costs.
Costs incurred before the project’s approval.
Expense Documentation Requirements
Applicants must maintain detailed records of all eligible expenses, including:
Receipts and invoices.
Payroll records for personnel costs.
Contracts for services.
These documents are crucial for audit purposes and ensuring compliance with program guidelines.
Examples of Funded Projects
The GIC program has facilitated numerous successful projects, such as:
Ideon Technologies' Discovery Platform in the Digital Technology Cluster.
Graphite Innovation and Technologies (GIT) in the Ocean Cluster, which developed a robust IP portfolio.
Funding Disbursement & Claiming Process
Funds are typically disbursed through:
Milestone-based payments as projects meet predefined criteria.
Reimbursement of eligible expenses upon submission of claims.
Stacking Rules
Projects funded under the GIC program can combine funding from other sources, provided:
The total funding does not exceed 100% of the project costs.
Compliance with specific cluster guidelines on funding combinations.
Real-World Budgeting Tips
To maximize funding efficiency, participants should:
Plan for eligible expenses from the project’s inception.
Allocate resources wisely to cover all project phases.
Conclusion
The Global Innovation Clusters program offers extensive financial support for collaborative innovation projects. By understanding the funding scope and eligible expenses, organizations can strategically leverage these resources to drive growth and innovation in Canada's key industries.
