Topic: Strategic Innovation Fund

Toronto’s Creative Destruction Lab receives $25 million through the Strategic Innovation Fund

The Government of Canada is investing $25 million in the University of Toronto’s Creative Destruction Lab (CDL), a non-profit project to pair science-based startups with business expertise. The investment comes through the Strategic Innovation Fund, a $1.26 billion federal program to spur innovation in Canada’s industrial and technological sectors, with a focus on large projects…

Economic Strategy Tables set the bar for achieving global competitiveness in six key sectors

The federally appointed Economic Strategy Tables (EST) have delivered their final report, which recommends a network of sector-specific Canadian Technology Adoption Centres. The collective report by all six tables contains “six signature initiatives” with the economic potential to add $318 billion or 15% to the GDP by 2030 compared to 2017 levels, and boost median household income by $13,000.

Feds pay for innovative training solutions for aerospace, defence

The federal government is putting in $7.6 million to support a $19-million project that will help design and develop training and simulation products for use in aerospace and defence. The repayable investment being made through the Strategic Innovation Fund will be provided to Bluedrop Performance Learning Inc., a company that provides simulation technology, simulators and…

Governments, Apple invest in Alcoa-Rio Tinto JV for carbon-free aluminum project

The federal and Quebec governments are investing millions in a joint-venture project between aluminum industry leaders Alcoa Corporation and Rio Tinto Aluminum that is also being supported by technology giant Apple, Inc. The $558-million two-phased project will involve Alcoa and Rio Tinto forming a joint venture called Elysis. The federal government is investing $60 million…

Biotech firm gets federal, provincial funds for advanced manufacturing

Canada’s largest biotech company, STEMCELL Technologies, will receive $45 million to develop regenerative medicine products in an advanced manufacturing facility. The federal government and British Columbia will each contribute $22.5 million for their project that includes building a $138-million production facility by 2022, and consolidating the three Vancouver locations of the company into a single…

Aerospace sector gets federal support for innovative helicopters

An aerospace consortium led by Québec-based Bell Helicopter Textron Canada Ltd. is receiving $49.5 million from the federal government to develop innovative technologies for integration into next-generation helicopters. Support was provided through the Strategic Innovation Fund. With fully autonomous aerial systems, the innovative helicopters will be designed to fly either with or without crew on…

Automotive firms receive $100 million from new SIF

Guelph ON-based Linamar Corp has received $49 million from the new Strategic Innovation Fund (SIF) to develop its advanced manufacturing capabilities around artificial intelligence and 3D printing, and cleaner automotive technologies. The $1.26-billion fund was announced in Budget 2017 and bundles several existing programs to support a range of high-growth and innovative sectors – such…