Montreal, QC – The federal government says it is introducing a new program to support innovation and technology adoption in Canada. The scheme will replace the existing Technology Partnerships Canada program.
The new scheme, called the Transformative Technologies Program, is intended to share with Canadian industry in the costs of innovation and technology adoption projects. Its goal is to ensure that leading-edge industrial research continues to occur in Canada and that Canadian firms are competitive in the global economy. The program is not intended to compete with financial markets and institutions, as its measure of success will not be cost recovery but sharing the risks of innovation.
The new program was described this week by the federal minister of industry, David Emerson, as open to all industry sectors and to all technologies, with greater access for small and medium-sized companies. Expert panels, which will include private sector representatives, will assess project outlines for its level of innovation and market relevance.
The minister added that the existing TPC R&D program will be phased out and that he intends to proceed with a national aerospace sector strategy in the coming weeks. He also confirmed that funding for the aerospace and defence sector will continue at the current level. “The companies in our aerospace industry are leading anchors for innovation in this country,” he said.