Is SIF the best federal program to support my business?
The Strategic Innovation Fund continues to receive a high volume of applications and funding is heavily subscribed. New applicants with high benefits are still encouraged to apply.
Before applying, we recommend that you visit the Innovation Canada platform to identify the most suitable program for you. If after visiting the site you are still uncertain whether the SIF is right for you, the following factors generally indicate lack of a strong fit:
- Projects that are not aligned with one or more of the Economic Strategy Tables
- Project benefits that are mostly local and do not have a broader impact on Canadians
- Projects that do not have a clear rationale and/or the necessary technical expertise to carry out the project activities
- Technological development or growth that is part of expected business plans and does not represent an incremental or accelerated leap
- New small scale or novel product development that are without a broader-based, market disruption capability or clear public benefits
- Project activities and/or costs that can generally be financed through debt financing (e.g. purchase of new equipment, land/building costs)
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