Innovation, Science and Economic Development Canada – Strategic Innovation Fund Stream 3: Investment attraction and reinvestment (2022)
Description:
Strategic Innovation Fund’s Stream 3 provides funding to attract and retain large scale investments to Canada. It provides repayable and non-repayable contributions to firms of all sizes across all of Canada’s industrial and technology sectors.
Comments on Funding:
Funding is up to 50% of the costs for eligible activities and the amount of the contribution is based on the minimum amount required to allow an eligible activity to proceed. The maximum level will only be considered in exceptional circumstances.
The combined level of assistance from all governments (federal, provincial, territorial, and municipal), shall not normally exceed 75% of eligible costs.
Eligibility:
The applicants must be:
Eligibility criteria for projects:
For example, projects could focus on:
Applications Steps:
Applicants must submit:
a Statement of Interest (SOI) with a high-level overview of the proposed project. Based on the SOI, applicants will be provided with feedback on whether they will be invited to Step 2 – Full application.
a full application, outlining in greater detail the project proposal. Information provided on this form will be used to complete the project due diligence and benefits assessment.
Once the assessment of the project application and the due diligence process are complete, Applicants will be informed of the status of their application. The Minister of Innovation, Science and Economic Development Canada will exercise his or her discretion on which projects to fund.
Following project approval, a Contribution Agreement will be prepared for signing by the successful Applicant (which then becomes the Recipient) and Innovation, Science and Economic Development Canada, laying out the legally binding responsibilities and obligations of both parties.
Documentation Needed:
Applicants must submit:
Program Contact:
When It Ends:
Ongoing
Deadline:
Rolling deadline