How much funding can be received?

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|terms_and_conditions

The Strategic Innovation Fund includes diverse funding modalities, structured to cater to different project requirements and types of beneficiaries, while ensuring equitable allocation and accountability.

A minimum contribution amount set at $10 million for projects with a total minimum eligible cost of $20 million.
Repayable contributions typically required, structured individually based on project benefits and risks, and may be unconditional, conditional, or a combination of both.
Non-repayable contributions available under specific conditions linked to significant benefits for Canadians and alignment with government priorities, such as environmental impacts or supply chain developments.
Contribution funding typically expressed as a percentage (sharing ratio) of total eligible supported costs, differing between Business Innovation and Growth projects and Collaborations and Networks projects.
Collaboration with various levels of government to coordinate co-funding and maximize resource use.
Regular reporting and potentially audits required to ensure compliance with the claimed costs and benefits outlined in the Contribution Agreement.

grant_single_labels|projects

The Strategic Innovation Fund (SIF) in Canada supports a variety of innovative projects across different sectors, each with specific requirements and objectives. Eligible projects include those focused on research and development, commercialization, firm expansion, and collaborative networks and technology demonstrations.

Research and development (R&D) and commercialization of innovative products, processes, or services within Technology Readiness Levels (TRLs) 1 to 9.
Expansion of existing industrial or technological facilities at advanced TRLs, enhancing company growth and efficiency.
Attracting new investments for R&D mandates and establishing new facilities or ventures in Canada.
Development of national innovation networks that support multiple projects, enhancing collaboration in R&D.
Collaborative technology development and demonstration, involving industrial research and pre-commercial technology advancements.

grant_single|admissibleProjectsExample

$ 2,200,000

Expansion of a biotech laboratory to increase research capacity

$ 1,800,000

Commercializing a breakthrough medical imaging technology

$ 2,600,000

Development of an advanced robotics system for manufacturing automation

$ 900,000

Developing a new AI-driven financial tool for small businesses

$ 3,400,000

Establishment of a clean energy R&D facility focusing on hydrogen fuel cells

$ 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) is open to a wide range of applicants from various sectors across the Canadian economy. Application eligibility is divided into two categories based on the type of project:Who can apply for Business Innovation and Growth projects?- For-profit businesses or cooperatives incorporated in Canada.- Partnerships proposing to carry out business within Canada.Who can apply for Collaborations and Networks projects?- Not-for-profit organizations incorporated in Canada.- For-profit corporations incorporated in Canada.Additionally, eligible organizations must be committed to managing projects, adhering to terms agreed upon, submitting claims for reimbursements, and owning or holding sufficient intellectual property rights necessary for the completion of their project activities.

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

This grant does not specify any particular geographical area requirement within the provided context. It is presumed to be available across Canada for eligible applicants as it is managed by a federal department.

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|otherInfo

Here are additional relevant details for this grant:

The program is managed by Innovation, Science and Economic Development Canada (ISED).
The minimum contribution amount from SIF is $10 million, supporting projects with total costs of at least $20 million.
Most contributions from SIF are repayable, except for certain conditions under Collaborations and Networks projects where contributions may be non-repayable.
SIF incorporates several legacy programs and continues to operate under their terms.
The contribution amount from SIF will consider the total level of government assistance received from all levels (federal, provincial, territorial, municipal).
Intellectual property generated from SIF-supported projects must be sufficient for the applicant to utilize and benefit from.
SIF will not disclose commercially confidential information without authorization, unless required by law.
Projects under SIF are assessed for their potential to provide substantial economic, public, and innovation benefits to Canadians.
Applicants may receive conditional, unconditional, or a mix of both types of repayable contributions.
SIF may collaborate with other government levels for project co-funding.
SIF is aligned with Canada's international agreements and does not base contributions on export performance.
Projects must adhere to Canada's Privacy Act and Access to Information Act regarding information security.

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.