2018 Federal Budget Highlights

“The Government currently supports business of all types and sizes through a vast and complicated array of programming.”

  • A program review took place across 20 federal departments and agencies, making the review the first effort to date to review the entire business innovation program suite
    • Government is proposing historic reform of business innovation programs to create a suite of programs that is easy to navigate
    • There will be an attempt to consolidate existing innovation programs from 92 in total into 30 larger programs
    • Over the next one to two years, changes will be managed to minimize disruption
    • Implementation details will follow, with some elements coming online quickly and others requiring a more fundamental structural changes to be implemented at a more measured pace
    • All filed applications will be honoured, with all current programs remaining in place until further details are announced
    • $3M per year in new funding for 15 new Innovation Advisors to support high potential firms
    • Overall government funding for innovation will increase

Four Flagship Platforms will deliver innovation funding:

  • Industrial Research Assistance Program
    • $700M over 5 years to IRAP, application threshold increased from $1M to $10M
  • Strategic Innovation Fund ($1.2 Billion)
    • Strategic Innovation Fund will move away from small project funding and just support projects greater than $10M
    • Consolidate Centres of Excellence under Strategic Innovation Fund
  • Canadian Trade Commissioner Service
  • Regional Development Agencies (WED, FedNor, FedDev, ACOA, & CNEDA)
    • $920M over 6 years directly to FedDev for Southern Ontario
    • $806M over 5 years to support Innovation and Skills Plan
    • $105M nationally coordinated, regionally delivered Women Entrepreneurship Strategy
    • $35M in Western Canada and Atlantic Canada to transition to low-carbon economy

Labour Market Programs:

  • $448.5M over 5 years to the Youth Employment Strategy. A renewed Youth Employment Strategy will be announced over the course of the next year
  • $2.7 Billion over 6 years in Labour Market Transfer Agreements with provinces – Employment Programs to help Canadians prepare, find and advance in, and keep good jobs
  • $46M in Pre-Apprenticeship Program over 5 years

Research Funding:

  • $763M over 5 years to Canada Foundation for Innovation to provide tools to researchers & Consolidate program under the following programs:
    • Natural Sciences and Engineering Council (NSERC)
    • Canadian Institutes of Health Research

Program Performance Evaluations

  • $1M per year to statistics Canada to improve performance evaluations for innovation-related programs
  • $2M per year to the Treasury Board Secretariat to establish central performance valuation team to undertake innovation performance evaluations on an ongoing basis

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2018-03-27T15:05:29+00:00

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