These On Wednesday, May 24, 2017, Minister of Innovation, Science and Economic Development Navdeep Bains announced the application process to participate in the $950 Million funding provided by the Federal Government to create specific innovation industries they are calling “superclusters”. Superclusters will consist of companies of varying sizes working in conjunction with post-secondary institutions and not-for-profit associations to create a Canadian “Silicon Valley”.
Minister Bains announced the industries being considered for superclusters which include manufacturing, agri-food, clean technology, digital technology, health/biosciences, clean resources, as well as infrastructure and transportation. The supercluster plan is an attempt to make Canada a competitor in the global innovation economy and create job opportunities for Canadians.
In his announcement, Minister Bains emphasized the importance of intellectual property to the innovation agenda and that part of the Federal Government’s 2017 budget will be to launch a comprehensive national intellectual property strategy.
The superclusters program shall consist of a two-phase application process. A consortium of companies, post-secondary institutions and not-for-profit associations are encouraged to apply for the funding. The consortium must be led by a Canadian or international company with operations in Canada and each business-led consortium must match dollar-for-dollar the amount it is requesting under the initiative.
In order to apply, companies must first submit a letter of intent to the program by July 21, 2017. Based on the entries, a shortlist will be invited to prepare and submit a full application. There will be five consortiums selected for funding.
This article is presented for informational purposes only. The content does not constitute legal advice or solicitation and does not create a solicitor client relationship. The views expressed are solely the authors’ and should not be attributed to any other party, including Thompson Dorfman Sweatman LLP (TDS), its affiliate companies or its clients. The authors make no guarantees regarding the accuracy or adequacy of the information contained herein or linked to via this article. The authors are not able to provide free legal advice. If you are seeking advice on specific matters, please contact Keith LaBossiere, CEO & Managing Partner at email@example.com, or 204.934.2587. Please be aware that any unsolicited information sent to the author(s) cannot be considered to be solicitor-client privileged.
While care is taken to ensure the accuracy for the purposes stated, before relying upon these articles, you should seek and be guided by legal advice based on your specific circumstances. We would be pleased to provide you with our assistance on any of the issues raised in these articles.