The Strategic Innovation Fund (SIF) is the program of Innovation, Science and Economic Development Canada designed to support the "Canadian innovation ecosystem," which includes providing "funding to innovative sectors" such as "advanced manufacturing, agri-food, clean technology, clean resources, digital industries, and health and biosciences." The SIF covers all sectors of the Canadian economy and is available to both for-profit and not-for profit organizations.

The company aims to support large-scale projects that help Canada's interests in the global knowledge-based economy, to promote clean growth, and the "advancement of Canada's strategic technological advantage." SIF attempts to provide a simpler application process and responsive assistance.

History Funded in the March 2017 Canadian federal budget and slated to last only five years, the SIF was introduced by Prime Minister Justin Trudeau and his 29th Canadian Ministry in July 2017. It was marketed as "A Simpler, More Flexible Tool to Grow Canada’s Economy," and accomplished this by "consolidat[ing] and simplify[ing] existing business innovation programming, in particular the Strategic Aerospace and Defence Initiative, Technology Demonstration Program, Automotive Innovation Fund and Automotive Supplier Innovation Program."

Since the 2018 Canadian federal budget, the SIF now only provides funds in chunks of over $10 million. In June that year, the SIF was the mechanism of support for the steel and aluminum industries of Canada when the Trump Administration placed customs duties on them.

In October 2018, Canadian Minister of Innovation, Science and Economic Development, Navdeep Bains, announced that the SIF would invest C$49.3 million in General Fusion. In December 2019, General Fusion raised $65 million in Series E equity financing from Singapore’s Temasek Holdings, Bezos Expeditions, and Chrysalix, concurrently with another $38 million from the SIF. The firm said that the funds would permit it to begin the design, construction, and operation of its Fusion Demonstration Plant.

On 20 March 2020, the Canadian government announced a plan to ramp up production of medical equipment, switching assembly lines to produce ventilators, masks, and other personal protective gear. Companies would be able to access funds through the SIF. Trudeau stated that Canadian medical supply firms Thornhill Medical, Medicom, and Spartan Bioscience were looking to expand production. To address shortages and supply-chain disruption, Canada passed emergency legislation that waived patent protection, giving government-selected companies or organizations the right to produce patented products without permission from the patent holder. According to the Bains, "the country's entire industrial policy will be refocused to prioritize the fight against COVID-19."

Projects Recent projects of SIF, , include:

Natural Products Canada ArcelorMittal Dofasco G.P. Pratt & Whitney Canada Bell Textron Canada CAE Inc.

+SIF projects by sector, Name(s)Advanced manufacturingAgrifood"Resources of the future"Health & biosciencesClean technologyDigital industriesAbCellera Biologics Inc.xAbraham Innovation Systems Inc.xxAdvantech Satellite Networks (now Spacebridge)xAerospace Innovation and Research Network (AIR) – (Aerospace Industries Association of Canada)xxAGS Automotive SystemsxxAlcoa Lauralco Management CompanyxAlgoma Steel Inc.xxAlgoma Tubes Inc. and Prudential Steel Ltd. (Tenaris)xAluminerie Alouette Inc.xxxArcelorMittal Canada Inc.xxArcelorMittal Dofasco G.P.xxArch Biopartners Inc.xAttabotics Inc.xxBell Helicopter Textron Canada Ltd and partnersxxxBell Textron CanadaxxBioVectraxxBlackBerry QNXxBlue Solutions Canada Inc.xxBluedrop Performance Learning Inc.xBurloak TechnologiesxxCAE Inc.xxxCanada Kuwait Petrochemical Corp.xxCanadian Agri-Food Automation and Intelligence Network (CAAIN)xxCanadian Food Innovators Network (CFIN)xxCarbon Engineering Ltd.xxCBN Nano Technologies Inc. and Canadian Bank Note Company, LtdxCentre for Excellence in Mining InnovationxxClean Resource Innovation NetworkxxCognitive Systems Corp.xCoulson Aircrane Ltd.xCreative Destruction LabxDigital Health and Discovery Platform (DHDP) - Terry Fox Research Institute / ImagiaxxD-Wave Systems Inc.xDomtar Inc.xxEdesa Biotech Research, Inc.xElysis Limited PartnershipxxEVRAZxxexactEarthxGeneral FusionxxGerdau Ameristeel CorporationxxHeico Canada Holding CompanyxHigh QxxImmune Biosolutions Inc.xIndustry Consortium for Image Guided Therapy (ICIGT) - Sunnybrook Research InstitutexxInnovation ENCQORxInter PipelinexxxISARACorporationxJP Bowman Ltd.xxKABS Laboratories Inc.xKruger Inc.xxxLakeside Plastics Ltd.xxLinamar CorporationxxLNG Canada Development Inc.xxxMaple Leaf Foods Inc.xxMarwood Metal Fabrication Ltd.xxMastercard Technologies Canada ULCxMedicago Inc.xMeltech Innovation Canada Inc.xMeridian Lightweight Technologies Inc.xxMindBridge Analytics Inc.xMoltex Energy Canada Inc.xNatural Products CanadaxxNokiaxNorthstarxxNOVA ChemicalsxxxNova Steel Inc.xxxNova Tube Inc.xNovocol Pharmaceutical of CanadaxOrigin Materials Canada Holding Ltd.xPratt & Whitney CanadaxxPrecision NanoSystems Inc.xRanovusxxxRedline Communications Inc.xResilience Biotechnologies Inc.xRockport Networks Inc.xxSanofi Pasteur LimitedxSciemetric Instruments Inc.xxSiemens CanadaxxxxStelco Inc.xSTEMCELL TechnologiesxSWITCH Materials Inc.xxSynergx Technologies Inc.xxSvante Inc.xTekna Plasma SystemsxxTelesat CanadaxTerrestrial Energy Inc.xxThe Lion Electric Co.xxToyota Motor Manufacturing CanadaxxVariation Biotechnologies Inc.xVolvo Group Canada Inc.xxWoodbridge Foam Corporationx3M Canada Companyx Primary sector of company in bold ("x")

Medical Countermeasures projects In the wake of the COVID-19 pandemic, the SIF was designated by the Canadian government in March 2020 to deliver the Medical Countermeasures (MCM) initiative and was given authority to invest $792 million to fund clinical trials and manufacturing capacity at scale. The MCM funding stream is divided into three types of projects: vaccines, therapies, and biomanufacturing projects. +Announced MCM projectsProject nameProvinceSIF contribution (CAD)Total project cost (CAD)Announcement dateTypeAbcellera Biologics Inc.BC$175,631,000$287,353,0002020-05-03Therapeutics and biomanufacturingVariation Biotechnologies Inc. (VBI)ON$55,976,000$74,636,0002020-08-05VaccinesPrecision NanoSystems Inc.BC$18,203,000$24,271,0002020-10-23VaccinesMedicago Inc.QC$173,000,000$428,002,0002020-10-23Vaccines and biomanufacturingArch BioPartnersON$6,715,000$8,953,0002020-12-15TherapeuticsEdesa Biotech Research, Inc.ON$14,053,000$18,738,0002021-02-02TherapeuticsPrecision NanoSystems Inc.BC$25,112,000$50,224,0002021-02-02BiomanufacturingKABS Laboratories Inc.QC$54,209,000$84,843,0002021-03-16BiomanufacturingNovocol Pharmaceutical of CanadaON$32,716,000$72,632,0002021-03-16BiomanufacturingImmune Biosolutions Inc.QC$13,442,000$18,670,0002021-03-16TherapeuticsResilience Biotechnologies Inc.ON$199,159,000$401,518,0002021-05-18BiomanufacturingTotal$768,216,000$1,469,840,000

References