Application and funding process: Strategic Innovation Fund

Before you apply

1. Consultations

Before applying, a consultation with SIF officials helps to ensure:

• your project aligns with SIF's priorities
• your project meets the eligibility requirements
• your organization is better prepared to complete the steps in the application stage of the process

At this stage you are required to:

• Review SIF's project requirements
• Check your eligibility online
• Pitch your project to SIF during a consultation meeting

Apply

2. Statement of Interest (SOI) application

Following the consultation, SIF officials may recommend that you submit the SOI to start the application stage of the SIF funding process. SIF officers will email you the application form.

In the SOI, you will describe:

• what your project is and who you main partners are
• how it benefits Canada
• how it meets the objectives and priorities of SIF
• your organization's financial and management capacity to complete the project, including a demonstrated track record in successfully delivering similar projects in the past and your past experience with other government investments

Once you submit the SOI, SIF will:

1. acknowledge receipt of your SOI and provide you with contact information of the SIF officer leading your project
2. assess the information
3. notify you of the results, which may include one of the following:
   1. a request for additional information to be further assessed
   2. and invitation to the next phase of the process (full application) through a Letter of Intent (LOI)
   3. a notice that your project will not be further considered for support with potentially a referral to another program

3. Full application

If you receive an invitation to submit a full application, you will be invited to submit more information about your project for SIF to complete a due diligence and benefits assessment. The full application process may take several months.

Once your application is complete, SIF will:

1. Do a due diligence assessment: An in-depth evaluation of your organization's capacity and experience to:
   • implement the proposed project
   • achieve the stated project objective
   • fulfill any repayment obligations

   Additionally, for Collaborations and Networks projects, to ensure that the proposed projects achieve stated objectives, SIF will also assess the capacity and experience of:

   • the lead applicant
   • other members in the network

   Due diligence assessments are full evaluations performed by experts assigned to the project. Experts consider the following factors when conducting the due diligence process:

   • technical feasibility
   • additional benefits to Canada
   • greenhouse gas impact (if applicable)
   • managerial, technical and workforce capability
   • equity, diversity and inclusion practices of your company
   • financial and market risk, including a close analysis of your eligible project costs

   Organizations leading Collaborations and Networks projects will need to consider similar assessment criteria in assessing individual projects requesting support from the network.

2. Recommend the project for approval: If the project passes due diligence, SIF will enter into negotiations with the applicant for the development of a Term Sheet and a recommendation may be made to the Minister for approval.
3. Develop a Contribution Agreement: Once the project has received all necessary approvals, SIF will work with you to develop a Contribution Agreement based on the approved Term Sheet.

After your project is approved and Contribution Agreement signed

4. Implementation and monitoring

SIF is a claim based program. Once the Contribution Agreement is signed by both parties, you will start claiming your costs, typically, on a quarterly basis and report on the status of the project. SIF will require regular reporting throughout the life of your project.

The reports will help to track the progress of the project as defined in the Statement of Work and its risks. SIF monitors all projects regularly, including work performance and compliance with the benefits listed in the Contribution Agreement.

SIF may also audit projects to verify:

• costs claimed during the work phase of the project
• royalties reported during the benefits phase of the project
• compliance with the Lobbying Act and the Impact Assessment Act during negotiations of the Contribution Agreement

Learn more: Reporting requirements: Strategic Innovation Fund