Question Period Note: STRATEGIC INNOVATION FUND

How is the Strategic Innovation Fund (SIF) helping to advance the Government of Canada’s objectives to support and grow the Canadian economy and to support Canada’s climate change objectives?

• Through the Strategic Innovation Fund (SIF), the Government of Canada supports large-scale, transformative and collaborative projects that will position Canada to prosper in the economy of the future.

• Budget 2021 provided the fund with $7.2 billion over seven years to invest in projects to accelerate greenhouse gas emission reductions, and to continue ongoing support for innovative projects across the economy, including in the life sciences, auto, aerospace, and agriculture sectors.

• With 96 projects announced to date, the Strategic Innovation Fund is helping to maintain and to create over 81,000 Canadian jobs, while responding to Canada’s pressing economic and climate change priorities.

• In total, $4.8 billion in federal investment has allowed the government to leverage more than $51.8 billion. This means that every federal dollar invested has leveraged an average of nearly $11 in total investments.

• SIF helps to accelerate areas of economic strength, expand the roles of Canadian firms in regional and global supply chains, support economic strategies, and attract investments that create new, good, well-paying jobs.

• The Net Zero Accelerator (NZA) initiative supports Canada's net zero goals to help transform the economy for clean and long term growth. The NZA will provide up to $8 billion in support of projects that will enable Canada to reduce its domestic greenhouse gas emissions.

• Before the introduction of SIF in Budget 2017, ISED’s business innovation support programs consisted of the Strategic Aerospace and Defence Initiative (SADI), the Automotive Innovation Fund (AIF), the Automotive Supplier Innovation Program (ASIP), and the Technology Demonstration Program (TDP). These programs led to the creation of many new technologies, economic opportunities and collaborative partnerships.

SIF investments are helping to secure nearly $15.2 billion in R&D commitments and to create over 22,000 co-op opportunities to develop Canada’s next generation of innovators.
• SIF has held two additional competitions to support collaborative industrial research:
1) $98 million to support two public-private collaborations that advance data and digital solutions in the health and bio sectors; and
2) $79.5 million to support collaborations to advance digital and automation technologies in the agriculture and agri-food sector.

In addition to the funding announced in Budget 2021, SIF has received several injections of funds, including:
o $1.26 billion from the consolidation of legacy programs (SADI, AIF, ASIP, and TDP);
o $100 million in Budget 2018 for low-earth orbit satellites and improved, affordable access to Internet and wireless services in rural areas;
o $250 million for the competitiveness of Canadian steel and aluminum manufacturers in response to additional tariffs imposed by the United States;
o $800 million in the 2018 Fall Economic Statement, including $100 million for forestry-related projects;
o $100 million in Budget 2019 to the Clean Resources Innovation;
o $27.8 million in existing funds to be transferred from the granting councils to SIF;
o $792 million for the vaccines, therapies and bio-manufacturing response to COVID-19;
o $250 million in the 2020 Fall Economic Statement to support Canada's innovative, intellectual property-rich firms; and
o $3 billion for new Net Zero Accelerator under the government’s decarbonization agenda.