Industrial Technologies Office (ITO) Operations
The Industrial Technologies Office (ITO), an Agency of Industry Canada, provides financial support for leading edge research and development (R&D) by Canadian industries. The agency delivers the Strategic Aerospace and Defence Initiative (SADI) and manages existing projects from the Technology Partnerships Canada (TPC) program and the Program for Strategic Industrial Projects (PSIP).
Agency operations have been designed to ensure:
- Due diligence
All R&D projects submitted for funding through ITO are evaluated according to a rigorous and transparent due diligence process to ensure that public funds are well invested.
- Minimized risk
Stringent due diligence processes and tight program parameters are implemented to ensure that risk is minimized.
- Greater return on investments
Repayments under the Strategic Aerospace and Defence Initiative are based on the gross business revenue of a firm (or a relevant division within the firm), so that repayments can start approximately one year after R&D has been completed.
- Transparent processes
All ITO objectives, application/review processes, assessment criteria and project/program performances will be documented via the web. Repayment information will also be published twice a year.
- High level of accountability
ITO operations have been built to ensure the highest level of accountability. In addition, annual evaluations and/or audits will be conducted and shared via the web, to ensure that program results stay on target.
Federal Accountability Act
ITO operations have been build on the principles of transparency and accountability, as outlined in the Federal Accountability Act. Through the Federal Accountability Act and Action Plan, the Government of Canada has brought forward specific measures to help strengthen accountability and increase transparency and oversight in government operations. The comprehensive Action Plan includes the Federal Accountability Act as well as supporting policy and other non-legislative measures.
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