SIF — Business Innovation and Growth projects
At a glance
- Max. $10,000,000
- Open Date : March 13, 2023
- All industries
- Innovation Canada
- Science and Economic Development Canada
- Government of Canada
Overview
Eligibility criteria
The eligibility criteria for the Business Innovation and Growth category of the Strategic Innovation Fund (SIF) require that companies must be either for-profit businesses or cooperatives incorporated in Canada, or partnerships proposing to carry out business in Canada.
- Company must be a for-profit business or cooperative incorporated in Canada
- Company must be a partnership proposing to carry out business in Canada
Who is eligible
The eligible types of companies for the Strategic Innovation Fund's Business Innovation and Growth category are for-profit businesses or cooperatives incorporated in Canada, and partnerships proposing to carry out business in Canada.
- For-profit business or cooperative incorporated in Canada
- Partnership proposing to carry out business in Canada
Eligible expenses
Eligible expenses for this grant include project costs related to research and development (R&D), commercialization, firm expansion, growth, investment attraction, and reinvestment. Examples of eligible expenses are outlined below:
- R&D activities to test commercial potential of early concepts or findings
- Adaptation of research findings for commercial applications
- Development and improvement of current products with new technology
- Process improvements to reduce environmental footprint
- Increasing manufacturing capacity
- Improving production efficiency through equipment enhancements
- Establishing new production facilities
- Getting production or R&D mandates for products or technologies
Eligible projects & activities
The Business Innovation and Growth category of the Strategic Innovation Fund (SIF) supports projects involving research and development (R&D) and commercialization of innovative products, processes, or services that have the potential to be implemented or commercialized.
- R&D to test commercial potential of early TRL concepts
- Adaptation of research findings for commercial applications
- Development and improvement of current products with new technology
- Process improvements for environmental sustainability
- Increasing manufacturing capacity to meet market demand
- Improving production efficiency through plant and equipment enhancements
- New investments in R&D mandates with hiring of full-time-equivalent employees in Canada
Evaluation & selection criteria
Evaluation and selection criteria for the Strategic Innovation Fund's Business Innovation and Growth category include the assessment of the project's potential for innovation, impact on the company's growth and competitiveness, alignment with program objectives, and the ability to create jobs and economic benefits for Canada.
- Innovation potential of the project
- Impact on company growth and competitiveness
- Alignment with program objectives
- Job creation and economic benefits for Canada
How to apply
- Step 1: Determine if your company qualifies for the Strategic Innovation Fund's Business Innovation and Growth category
- Your company must be a for-profit business or cooperative incorporated in Canada, or a partnership proposing to carry out business in Canada
- Step 2: Prepare your project proposal and ensure it aligns with the program's objectives
- Projects must involve R&D and commercialization activities within specific Technology Readiness Levels
- Step 3: Submit your application for funding and await the evaluation process
- You will be responsible for managing the project and adhering to the terms of the Contribution Agreement
- Step 4: If successful, ensure compliance with funding conditions and reporting requirements
- This includes managing project costs, delivering benefits for Canada, and fulfilling the agreed-upon funding amounts and conditions