The Strategic Innovation Fund (SIF) benefits Canada by:
- developing enterprises through research and development, accelerating technology transfer and attracting investments in Canada
- improving the lives of Canadians through more jobs, diverse workforces, improved health outcomes, enhanced safety and strong security
- transforming our economic and environmental landscape by reducing greenhouse gases and growing the use of clean, sustainable technologies
SIF reviews the potential for each project to benefit the Canadian economy and Canadians at large when assessing the Statement of Interest.
Economic benefits
SIF assesses projects based on economic benefits, including:
- growth of Canadian firms, clusters and supply chains
- expected benefits for Canada's workforce, including:
- maintaining Canadian jobs
- creating Canadian jobs
- ability to commit to further developing technologies for potential commercialization or research purposes (Collaborations and Networks projects only)
We will consider the following factors in assessing the economic benefits of a project:
- number of jobs the project will create
- number of high-paying jobs the project will create
- project-related revenue growth
Public benefits
SIF assesses projects based on their contribution to the public good, including:
- environmental best practices
- investment in skills and training
- inclusive business and hiring practices, such as gender balance
In assessing the public benefits of a project, we will consider how many benefits the project may generate in the following areas:
- health
- society
- security
- environment
- other areas that affect the Canadian public including:
- investment in local communities
- project-related impact on Indigenous communities
Innovation benefits
SIF assesses projects based on how innovative they are, including how much projects enhance or develop:
- new industrial processes
- new technology
We will consider the following factors in assessing innovation benefits:
- potential spillover benefits
- creation of intellectual property
- impact on productivity of the new technology