Are you a Brampton business looking to commercialize a new product, make a significant investment in your operations, or invest in a new facility?
If you answered yes, check out the Federal Government’s new Strategic Innovation Fund (SIF). SIF was launched in July as a five-year $1.26 billion program (2017-2021) to support the growth of Canadian businesses and facilitate innovation in Canada.
Canadian businesses of all sizes are eligible for financial contributions (both repayable and non-repayable options) of up to 50% of project costs to a maximum of $50,000,000 in the following areas:
- Stream 1: Research, Development, and Commercialization: Projects focused on R&D and commercialization of innovative technologies.
- Stream 2: Business Growth and Expansion: Projects focused on expansion and material improvement of existing industrial or technological facilities.
- Stream 3: Investment Attraction and Retention: Projects focused on new investments in Canadian industrial or technological facilities.
Canadian businesses of all sizes can apply for SIF.
There is a two-phase application process involving both a Statement of Interest (SOI) and, if it is approved, a Full Application. If you have any questions, please visit the SIF website for more information.