The Government will streamline the program suite in part by designating four flagship “platforms”
Federal – February 27th 2018
1. Industrial Research Assistance Program (IRAP – NRC)
- Investment of $700 million over five years to support business research and development for projects.
2. Strategic Innovation Fund
- New focus to support research and development projects over $10 million
3. Canadian Trade Commissioner Service
- Improvement of its platform for export support programs.
- Budget 2018 proposes to provide $10 million over five years, starting in 2018–19, with $2 million per year thereafter, to renew the successful Canadian Technology Accelerators program.
4. Regional development agencies
- $400 million over five years to support the Innovation and Skills Plan across all regions of Canada.
- $105 million will support nationally coordinated, regionally tailored support for women entrepreneurs.
Budget 2018 also proposes to invest $85.3 million over five years for measures in support of a new Intellectual Property Strategy to help Canadian entrepreneurs better understand and protect intellectual property, and get better access to shared intellectual property.
Finally, the Government will establish a new electronic procurement platform. This will help Canadian small and medium-sized businesses better access opportunities to work with the Government.
The Government proposes to continue to support mineral exploration efforts of junior exploration companies to raise capital to finance “grassroots” mineral exploration away from an existing mine site by extending the 15% credit for an additional year, until March 31, 2019.