These On Wednesday, May 24, 2017, Minister of Innovation, Science and Economic Development Navdeep Bains announced the application process to participate in the $950 Million funding provided by the Federal Government to create specific innovation industries they are calling “superclusters”. Superclusters will consist of companies of varying sizes working in conjunction with post-secondary institutions and not-for-profit associations to create a Canadian “Silicon Valley”.
Minister Bains announced the industries being considered for superclusters which include manufacturing, agri-food, clean technology, digital technology, health/biosciences, clean resources, as well as infrastructure and transportation. The supercluster plan is an attempt to make Canada a competitor in the global innovation economy and create job opportunities for Canadians.
In his announcement, Minister Bains emphasized the importance of intellectual property to the innovation agenda and that part of the Federal Government’s 2017 budget will be to launch a comprehensive national intellectual property strategy.
The superclusters program shall consist of a two-phase application process. A consortium of companies, post-secondary institutions and not-for-profit associations are encouraged to apply for the funding. The consortium must be led by a Canadian or international company with operations in Canada and each business-led consortium must match dollar-for-dollar the amount it is requesting under the initiative.
In order to apply, companies must first submit a letter of intent to the program by July 21, 2017. Based on the entries, a shortlist will be invited to prepare and submit a full application. There will be five consortiums selected for funding.