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Policies

Strategic Innovation Fund

Last updated: 22 October 2024

The Strategic Innovation Fund (SIF) provides transformative investments in all sectors of the economy to help Canada prosper in a global, knowledge-based economy. 

The programme helps Canadian businesses and organisations succeed and help Canada grow good jobs for a strong economy. 

Key program objectives include: 

  • encouraging businesses to invest in research & development (R&D) activities that lead to technology transfer and commercialisation of new products, processes and services 
  • accelerating the growth and expansion of innovative businesses in Canada 
  • attracting and retaining large-scale investments to Canada 
  • advancing networks of collaboration between the private sector, research institutions and non-profit organisations in key emerging technology sectors and in industrial R&D and commercialisation

The Strategic Innovation Fund (SIF) supports Canada's ambition to prioritise innovation in critical minerals, with Budget 2022 earmarking $1.5 billion to bolster projects in manufacturing, processing, and recycling of critical minerals (see also Critical Minerals Infrastructure Fund).

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