2016 Federal Budget
Tuesday March 22, 2016 | 2016 Federal Budget
Chapter 2 > Strengthening Innovation Networks and Clusters
Translating Canada's science and technology strengths into successful, globally competitive companies requires the private sector, post-secondary institutions, governments and other stakeholders to work together more strategically to achieve greater impact. Connections between knowledge producers and users- including researchers and firms—and collaboration within supply chains driven by market opportunities create value through innovation and support economic growth. Information gaps and coordination challenges may prevent these linkages from being developed to their full potential, impacting the strength of innovation ecosystems.
To help address these challenges, Budget 2016 proposes to make available up to $800 million over four years, starting in 2017–18, to support innovation networks and clusters as part of the Government's upcoming Innovation Agenda.
$800 million over four years technically equals $200 million per year as promised. That being said, that Innovation Agenda is a new program and hasn't been fully developed by the government yet. This promise status will be updated accordingly when the Innovation Agenda is fully fleshed out and operational.