Topic: Strategic Innovation Fund

Court ruling on aerospace R&D tax credit case affects entire tech sector

A Tax Court of Canada ruling that reduced a Montreal aerospace company’s federal Scientific Research and Experimental Development tax credits impacts the entire tech sector and further complicates a government incentive program already rife with problems and in need of reform, say innovation advocates.

After billions in funding, Strategic Innovation Fund failed to improve Canada’s innovation performance, experts say

Nearly $3.4 billion in federal spending through the Strategic Innovation Fund (SIF) during the last three years has failed to improve Canada’s “disastrous” innovation performance and productivity, say some innovation and policy experts. An analysis by Research Money of SIF data shows that Ontario, Quebec and foreign-based firms have received the lion’s share of SIF funding.

Canada needs a targeted industrial strategy to improve innovation performance, experts say

Canada’s continued poor performance in innovation and business productivity is due to a failure to link publicly funded research and innovation programs to an industrial strategy based on the country’s strengths, say innovation experts. Meanwhile, studies by University of Toronto researchers show the federal innovation agenda has negatively impacted funding for basic, investigator-driven research but hasn’t addressed the underlying problem of industrial innovation in Canada.

Oil and gas innovation network has yet to spend $80 million of federal funding for cleaner technologies

A pan-Canadian oil and natural gas innovation network has yet to spend the bulk of $100 million of federal funding on commercializing new, cleaner technologies, two years after Ottawa announced the funding and seven months after a contribution agreement was signed. The Clean Resource Innovation Network, which aims to produce the world’s cleanest hydrocarbons, plans to announce details of its planned three technology competitions by end of March 2021.