New regional innovation program to support business development and growth

The Government of Canada has announced its Regional Economic Growth Through Innovation (REGI) initiative, a nationally coordinated, regionally tailored program aimed at supporting Canadian businesses to grow, expand into new markets and adopt new technologies and processes. Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada’s regional development agencies (RDAs), made the announcement in Ottawa. Under REGI, innovation funding programs across all of Canada’s six RDAs will focus on two key areas: 1) investing in and supporting businesses at various stages of development, including high-growth firms, to accelerate their growth, assist them in scaling up, and enhance productivity and competitiveness in domestic and global markets; and 2) creating, growing and nurturing inclusive regional ecosystems that support business needs and foster an entrepreneurial environment conducive to innovation, growth and competitiveness. REGI builds on the objectives of Ottawa’s Innovation and Skills Plan.