Tax Alerts

2017 federal budget to boost innovation

Martha Oner Martha Oner

Experience shows that investment in innovative high-growth sectors helps to drive global competitiveness and sustainable economic growth. Canada’s 2017 federal budget aims to encourage further research and development (R&D), with the government committing to make Canada a centre for global innovation. Already, Canadian businesses invest over $15B annually on R&D of new products and processes. The budget hopes to boost that investment by introducing measures to fund superclusters, develop the Venture Capital Catalyst Initiative and create a Strategic Innovation Fund—a fund designed to increase access to various sector- and segment-specific innovation programs by consolidating them into one all-encompassing fund.

Find out more about the Strategic Innovation Fund. [ 175 kb ]

Read more strategic innovation fund cover