Canada’s industrial policy will be temporarily refocused
Yesterday, Navdeep Bains, federal Minister of Innovation, Science and Industry announced that Canada’s industrial policy will be temporarily refocused to prioritize research and development, commercialization, and manufacturing (existing or potential) for medical supplies and solutions in the fight against COVID-19. This means that:
- The Strategic Innovation Fund will deliver direct support to larger companies as well as research institutions;
- Canada’s National Research Centre will expedite R&D with small and medium-sized enterprises;
- Innovation Superclusters will tap into a national network of 1,800 members; and
- Innovative Solutions Canada will help Canadian companies commercialize faster.
Funds will be deployed on an accelerated basis with wider flexibility to be able to tackle COVID-19 related problems through shortened applications and faster approvals, while maintaining standards for the health and safety of Canadians. We are putting the full weight of the federal government behind this plan.
If your businesses can help, I encourage you to visit this website: https://www.canada.ca/en/services/business/maintaingrowimprovebusiness/manufacturers-needed.html. For all other information, please visit Canada.ca/coronavirus.
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