Daily Archives: March 24, 2016

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Innovation and the 2016 Federal Budget – Synopsis

The 2016 by the Liberal government has enacted new provisions for innovation and green technology. This government has re-emphasized that innovation is a key driver of the economy, and must invest in order to become and world leader in technology creation. To achieve this objective, the government has targeted investment to 4 specific streams to boost innovation. Entrepreneurship – Extended investment through enhanced funding for incubators and accelerators, internships, apprenticeships and immigration policy. By 2017-18, the government has promised to provide funding of $150 million dollars. Science and Technology – Increasing funding for academia, federal laboratories and related foundations. Aggregate funding between 2016-18 will increase funding by approximately $1.75 billion dollars. Innovation Infrastructure – Increased funding to the NRC – IRAP and development agencies across Canada. IRAP in particular is earmarked to receive an additional $50 million dollars in 2016-17. Commercialization and Growth – Scaling the mandates of BDC, EDC […]