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Decisions nearing on allocation of $800M Innovation Fund

March 12, 2017 – An $800-million commitment central to the Trudeau government’s economic growth strategy is expected to be divvied up within the next few months among groups and companies that can persuade Ottawa they’re best positioned to help young, high-potential firms flourish.

The government earmarked the cash in last year’s budget to support “innovation networks and clusters” as part of federal plans to help budding companies scale up significantly. Ottawa hopes these firms will evolve into strong job creators and give Canada an economic boost.  Ottawa hopes these firms will evolve into strong job creators and give Canada an economic boost.

The article goes on to explain that the Liberals have valued an approach to support accelerators, incubators and clusters as a way to help innovative entrepreneurs grow their firms into global players.  A representative from the Council of Canadian Innovators who represents tech companies indicated they would like to see clusters of high-growth Canadian companies get more support vs. innovation clusters that are focussed on a university or incubator.  Other opinions on how to best allocate the funds are also described.

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