Strategic Innovation Fund

Country / jurisdiction: Canada · Year: 2017 · Status: In force · Level: National · Type: Voluntary

The Strategic Innovation Fund (SIF) provides transformative investments in all sectors of the economy to help Canada prosper in a global, knowledge-based economy.

The programme helps Canadian businesses and organisations succeed and help Canada grow good jobs for a strong economy. Within the SIF, the Net Zero Accelerator (NZA) provides up to $8 billion in funding to support large-scale investments in key industrial sectors across the country. This includes investments to help Canada's largest emitting industrial sectors such as oil and gas and heavy industry (steel, aluminum, cement, mining and mineral processing and chemicals) dramatically reduce their current domestic GHG footprint faster and with less financial risk.

Key program objectives include:

encouraging businesses to invest in research & development (R&D) activities that lead to technology transfer and commercialisation of new products, processes and services

accelerating the growth and expansion of innovative businesses in Canada

attracting and retaining large-scale investments to Canada

advancing networks of collaboration between the private sector, research institutions and non-profit organisations in key emerging technology sectors and in industrial R&D and commercialisation

The Strategic Innovation Fund (SIF) supports Canada's ambition to prioritise innovation in critical minerals , with Budget 2022 earmarking $1.5 billion to bolster projects in manufacturing, processing, and recycling of critical minerals (see also Critical Minerals Infrastructure Fund ).

Official source: https://ised-isde.canada.ca/site/strategic-innovation-fund/en