New Government Funding for Small Businesses

In July 2017 Canadian Government announced a new fund - The Strategic Innovation Plan - aimed at the development of the new technologies in Canada.The program has a budget of $1.26 billion over five years. The fund is open to all business sizes - from small to large or groups of companies. All businesses have to be incorporated. Amazingly, the program is ready to give out in some cases even non-repayable funds to support expansion and new developments. All project related expenses are supported from salary to current expenses, and from research to development. As long as the project is aimed to benefit Canadian technological and economic growth. The program has four Streams, each with its own precise objective: Stream 1: Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes, and services; Stream 2: Facilitate the growth and expansion of firms in Canada; Stream 3: Attract and retain large scale investments to Canada; and Stream 4: Advance industrial research, development, and technology demonstration through collaboration between academia, non-profit organizations and the private sector. All businesses are encouraged to apply.