Strategic Innovation Fund (SIF)
Canada
The Strategic Innovation Fund (SIF) is a major investment initiative managed by Innovation, Science and Economic Development Canada to support innovative projects that stimulate economic growth in Canada.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateJanuary 01, 2017
grant_single|financingType
Grant and Funding
Partnering and Collaboration
grant_single|eligibleIndustries
- Manufacturing
- Transportation and warehousing
- Information and cultural industries
- Professional, scientific and technical services
grant_single|grantors
- Innovation, Science and Economic Development Canada (ISED)
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Strategic Innovation Fund (SIF) provides significant investments in innovative projects to stimulate Canada's economy and create jobs. Managed by Innovation, Science and Economic Development Canada, SIF supports projects in all sectors, including research and development, commercialization, and the expansion of industrial or technological facilities. Eligible activities encompass R&D efforts from early-stage technology readiness levels to commercial applications, thereby encouraging technology transfer and advancements across various industries.
grant_single_labels|projects
This grant is available to companies that are incorporated or operating within Canada. Eligible geographical areas are determined by the requirement for companies to be either Canadian businesses or organizations, ensuring they contribute to Canadian innovation and economic development.
- Businesses incorporated in Canada.
- Non-profit organizations incorporated in Canada.
- Businesses or partnerships proposing to carry out business in Canada.
grant_single|admissibleProjectsExample
$3,400,000
Establishment of a clean energy R&D facility focusing on hydrogen fuel cells
$900,000
Developing a new AI-driven financial tool for small businesses
$2,200,000
Expansion of a biotech laboratory to increase research capacity
$2,600,000
Development of an advanced robotics system for manufacturing automation
$1,800,000
Commercializing a breakthrough medical imaging technology
$1,500,000
Creating a network of tech startups focusing on IoT advancements
grant_single_labels|admissibility
The Strategic Innovation Fund (SIF) has specific eligibility criteria for organizations looking to apply for funding.
- For Business Innovation and Growth projects, the applicant must be one of the following: a for-profit business or cooperative incorporated in Canada, or a partnership proposing to carry out business in Canada.
- For Collaborations and Networks projects, the lead applicant must be a not-for-profit organization or a for-profit corporation incorporated in Canada.
- The applicant must manage the project and carry out the agreed terms and benefits of the Contribution Agreement.
- The applicant must have sufficient background intellectual property rights to carry out the project's activities and utilize any resulting intellectual property fully.
- Collaborative projects must involve collaboration with Canadian universities, colleges, research institutes, for-profit corporations (including SMEs and large corporations), and/or not-for-profit entities.
grant_eligibility_criteria|who_can_apply
The Strategic Innovation Fund (SIF) covers all sectors of the economy and is available to for-profit and not-for-profit organizations that aim to support Canadian innovation.For Business Innovation and Growth projects, eligible applicants include:- A for-profit business or cooperative incorporated in Canada- A partnership proposing to carry out business in CanadaFor Collaborations and Networks projects, eligible applicants include:- A not-for-profit organization incorporated in Canada- A for-profit corporation incorporated in CanadaIn both categories, applicants are responsible for owning or holding sufficient intellectual property rights to execute the project effectively. Collaborations and Networks projects require collaboration with Canadian universities, colleges, research institutes, for-profit corporations, and/or non-profit entities.
grant_eligibility_criteria|who_cannot_apply
There are no specific restrictions or exclusions mentioned for companies or industries that cannot apply for the Strategic Innovation Fund (SIF). The fund appears to be open to a wide range of sectors, as long as they meet the eligibility criteria.
grant_eligibility_criteria|eligible_expenses
The Strategic Innovation Fund (SIF) invests in transformative projects across sectors to promote innovation and economic growth in Canada. Eligible projects include activities related to research and development, firm expansion, investment attraction, and the establishment of national innovation networks.
- Research and development (R&D) and commercialization of innovative products, processes, or services.
- Firm expansion projects that support the growth or material improvement of existing industrial or technological facilities.
- Investment attraction and reinvestment projects that involve the establishment of new facilities or ventures in Canada.
- Development of national innovation networks that support multiple collaborative projects, particularly in research, technology demonstration, and commercialization.
- Collaborative technology development and demonstration projects that support industrial research and pre-commercial technology demonstration.
grant_eligibility_criteria|zone
Eligible expenses supported by the Strategic Innovation Fund (SIF) include a variety of costs necessary for the execution and success of innovative projects.
- Direct labour costs associated with the project.
- Costs for direct materials and equipment required for project activities.
- Other direct costs essential for project delivery.
- Overhead costs, subject to program limits.
- Subcontracts and consultant fees involved in the project.
- Land and building costs that are necessary and reasonable for carrying out project activities and benefit all network members (specifically for Collaborations and Networks projects).
- Expenditures related to network operations and activities, including the organization of networking events, the operation of regional offices, and participation in collaborative research and technology development, for Collaborations and Networks projects.
- Costs related to network operations such as travel, salaries, overhead, office equipment, and professional services, for Collaborations and Networks projects.
grant_single_labels|criteria
The evaluation and selection of projects for the Strategic Innovation Fund (SIF) are based on a detailed assessment process focused on the alignment with Canada's economic and innovation objectives, although specific point allocations for each criterion are not provided.
- Alignment with the Strategic Innovation Fund's priorities and objectives.
- Potential economic benefits including job creation and growth of Canadian firms.
- Public benefits such as environmental best practices and inclusive business practices.
- Innovation benefits including the development of new technologies and potential intellectual property creation.
- Technical feasibility and the organization's financial and management capacity to complete the project.
- Equity, diversity, and inclusion practices of the organization.
- Contribution to Canada's research and development landscape.
- Potential for technology transfer and commercialization of new products, processes, or services.
- Engagement and collaboration with academia, industry, and other relevant stakeholders.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Consultations
- Review SIF's project requirements.
- Check your eligibility online.
- Contact SIF to organize a consultation and pitch your project to the officials.
- Step 2: Statement of Interest (SOI) Application
- Submit an SOI application after receiving guidance from consultations.
- Describe your project and its benefits to Canada.
- Demonstrate the financial and management capacity of your organization.
- Receive feedback on your SOI, possibly leading to a Letter of Intent (LOI).
- Step 3: Full Application
- If invited, submit a complete application with detailed project information.
- Provide additional information for a due diligence and benefits assessment.
- Participate in further assessments of technical feasibility and project impacts.
- Step 4: Negotiation of Terms
- If successful, negotiate the terms of funding with SIF.
- Develop a Term Sheet outlining project benefits and obligations.
- Prepare a Contribution Agreement based on the approved Term Sheet.
- Step 5: Implementation and Monitoring
- Implement the project following the signing of the Contribution Agreement.
- Submit regular claims for incurred project costs.
- Provide regular reports on project progress and benefits achieved.
grant_single_labels|contact
1-800-328-6189
Apply to this program
The Strategic Innovation Fund: Catalyzing Canadian Innovation
The Strategic Innovation Fund (SIF) supports substantial investments in innovative projects aimed at growing Canada's economy and enhancing the well-being of Canadians. Managed by Innovation, Science and Economic Development Canada (ISED), SIF streamlines the application process, providing results-oriented assistance to viable projects across various sectors.
In-depth Explanation of the Strategic Innovation Fund and Its Benefits
The Strategic Innovation Fund (SIF) is a cornerstone of Canada's efforts to stimulate economic growth by investing in transformational projects. Initiated by the Innovation, Science and Economic Development Canada (ISED), the fund is dedicated to supporting high-impact projects that foster innovation, competitiveness, and sustainable development within the Canadian economy. Recognized for its strategic approach, SIF offers significant financial backing to eligible projects, requiring a minimum contribution of $10 million, with projects needing to demonstrate a total cost of at least $20 million. This substantial investment threshold underscores the fund's focus on large-scale, groundbreaking initiatives.
SIF is particularly attuned to encouraging Canadian companies to engage in research and development (R&D) activities that have the potential to lead to technological advancements and commercialization of new products, processes, or services. By supporting projects at various Technology Readiness Levels (TRLs), from initial research phases to market readiness, SIF facilitates a full spectrum of innovation activity. This not only helps in nurturing emerging technologies but also in ensuring they reach the market successfully, thereby enhancing Canada's competitive advantage globally.
One of the fund's primary objectives is to stimulate job creation and economic growth, ensuring that Canadian enterprises remain at the forefront of innovation. SIF accomplishes this by focusing on key sectors likely to generate significant returns on investment through increased productivity, market expansion, and technological leadership. Furthermore, the fund aids in attracting and retaining major investments in Canada, which are crucial for sustaining a dynamic economic environment that supports high-skilled employment.
Collaborations and networks projects under the SIF also receive substantial attention. These projects emphasize fostering partnerships between businesses, educational institutions, and non-profit organizations, which are essential for creating robust research ecosystems and innovation networks. By promoting these collaborations, SIF not only advances industrial research but also ensures that these partnerships contribute to meaningful technology demonstrations, advancing towards commercialization.
The strategic focus of SIF on various sectors includes but is not limited to, technology-driven industries, manufacturing, and life sciences. It supports projects that exhibit a clear trajectory towards commercialization potential and that contribute to creating sustainable, environmentally friendly technologies. The fund assesses each project for its potential economic, public, and innovation benefits, ensuring funded projects generate measurable positive impacts on Canadian society and contribute to environmental sustainability and job growth.
SIF’s application process is systematically designed to be transparent and supportive of applicants' needs. Before formal application, potential applicants are encouraged to consult with SIF officials to check their eligibility and align their proposals with the fund's priorities. This thorough vetting process helps streamline project submissions, ensuring that only projects most likely to succeed and align with national priorities move forward. The fund also provides structured guidance to applicants, assisting them in navigating the application phases, from the statement of interest to the in-depth full application and due diligence processes.
Overall, the Strategic Innovation Fund stands as a vital tool in Canada's economic development arsenal, incentivizing ambitious projects that promise substantial returns to the Canadian economy and society. It not only catalyzes innovation but also ensures that Canadian companies remain competitive on a global scale, being equipped to adapt to evolving economic challenges while contributing to a sustainable future. By bridging gaps between industry, academia, and research bodies, SIF helps in sculpting a versatile innovation ecosystem that is poised for future challenges and opportunities.
