SIF — Business Innovation and Growth projects
At a glance
- Max. $10,000,000
- Open Date : March 13, 2023
- All industries
- Science and Economic Development Canada
- Innovation Canada
- Government of Canada
Overview
Eligibility criteria
The eligibility criteria for the Business Innovation and Growth category of the Strategic Innovation Fund (SIF) require that companies must be either for-profit businesses or cooperatives incorporated in Canada, or partnerships proposing to carry out business in Canada.
- Company must be a for-profit business or cooperative incorporated in Canada
- Company must be a partnership proposing to carry out business in Canada
Who is eligible
The eligible types of companies for the Strategic Innovation Fund's Business Innovation and Growth category are for-profit businesses or cooperatives incorporated in Canada, and partnerships proposing to carry out business in Canada.
- For-profit business or cooperative incorporated in Canada
- Partnership proposing to carry out business in Canada
Eligible expenses
Eligible expenses for this grant include project costs related to research and development (R&D), commercialization, firm expansion, growth, investment attraction, and reinvestment. Examples of eligible expenses are outlined below:
- R&D activities to test commercial potential of early concepts or findings
- Adaptation of research findings for commercial applications
- Development and improvement of current products with new technology
- Process improvements to reduce environmental footprint
- Increasing manufacturing capacity
- Improving production efficiency through equipment enhancements
- Establishing new production facilities
- Getting production or R&D mandates for products or technologies
Eligible projects & activities
The Business Innovation and Growth category of the Strategic Innovation Fund (SIF) supports projects involving research and development (R&D) and commercialization of innovative products, processes, or services that have the potential to be implemented or commercialized.
- R&D to test commercial potential of early TRL concepts
- Adaptation of research findings for commercial applications
- Development and improvement of current products with new technology
- Process improvements for environmental sustainability
- Increasing manufacturing capacity to meet market demand
- Improving production efficiency through plant and equipment enhancements
- New investments in R&D mandates with hiring of full-time-equivalent employees in Canada
Evaluation & selection criteria
Evaluation and selection criteria for the Strategic Innovation Fund's Business Innovation and Growth category include the assessment of the project's potential for innovation, impact on the company's growth and competitiveness, alignment with program objectives, and the ability to create jobs and economic benefits for Canada.
- Innovation potential of the project
- Impact on company growth and competitiveness
- Alignment with program objectives
- Job creation and economic benefits for Canada
How to apply
- Step 1: Determine if your company qualifies for the Strategic Innovation Fund's Business Innovation and Growth category
- Your company must be a for-profit business or cooperative incorporated in Canada, or a partnership proposing to carry out business in Canada
- Step 2: Prepare your project proposal and ensure it aligns with the program's objectives
- Projects must involve R&D and commercialization activities within specific Technology Readiness Levels
- Step 3: Submit your application for funding and await the evaluation process
- You will be responsible for managing the project and adhering to the terms of the Contribution Agreement
- Step 4: If successful, ensure compliance with funding conditions and reporting requirements
- This includes managing project costs, delivering benefits for Canada, and fulfilling the agreed-upon funding amounts and conditions
Business Innovation and Growth Grant Summary
The Business Innovation and Growth category of the Strategic Innovation Fund (SIF) supports for-profit businesses in Canada to invest, grow, and create jobs by funding projects focused on R&D, commercialization, firm expansion, growth, and investment attraction.
The Business Innovation and Growth category of the Strategic Innovation Fund (SIF) aims to foster the development of for-profit businesses in Canada. These businesses can receive funding for projects involving research and development (R&D), commercialization, firm expansion and growth, and investment attraction and reinvestment. The SIF funding supports activities related to enhancing a company's competitive capability, increasing manufacturing capacity to meet market demands, improving production efficiency, and attracting new investments in R&D. Successful applicants are required to manage projects, adhere to the terms of the Contribution Agreement, submit reimbursement claims, and report on results. The projects under this grant must have a clear focus on innovation, technology readiness levels, and potential for commercialization or implementation.
To be eligible for SIF funding under the Business Innovation and Growth category, companies must be incorporated in Canada or be partnerships proposing to carry out business in Canada. The funded projects should demonstrate benefits for Canada, including job creation, economic growth, and technological advancements. The types of projects supported by the grant include R&D and commercialization, firm expansion and growth, and investment attraction and reinvestment. Each project type has specific requirements related to Technology Readiness Levels (TRLs) and desired outcomes.
Businesses receiving SIF funding are responsible for owning or holding sufficient intellectual property (IP) rights to support project activities. They must demonstrate how the project will contribute to the company's growth, viability, and competitiveness in the market. The grant aims to encourage businesses to invest in innovation, expand their facilities, attract new investments, and create high-quality jobs in Canada. By supporting projects that lead to advancements in products, services, and processes, the grant helps businesses drive economic prosperity and enhance their global competitiveness.
