Today's News |
Canadian Government Launching $100 Million Procurement Program for Startups (Innovative Solutions Canada Program)
Thursday, December 28, 2017
Innovative Solutions Canada is a $100-million program to fuel innovation
Vancouver, BC, December 28, 2017--(T-Net)--The Government of Canada announced this week that it will use procurement to help Canadian small businesses innovate and create employment opportunities for Canadians.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development announced the $100-million Innovative Solutions Canada program that invites Canadian small businesses to develop novel solutions to challenges proposed by federal departments and agencies.
Whether the challenge is developing a way to make armour more resistant to chemicals or improving wireless connectivity in connected vehicles, the federal department or agency will ask small businesses to innovate and propose a solution.
The government will work with the winning business and act as its first customer, helping the companies take their idea to market and advance the next generation of solutions that can become viable commercial products.
Twenty federal departments and agencies will participate in the new program and identify problems spanning the military, economic and environmental sectors.
Innovative Solutions Canada is a key component of the Government of Canada's Innovation and Skills Plan, a multi-year strategy to create well-paying jobs, according to the government.
"Our government's new Innovative Solutions Canada program is a big winner on several fronts. We're being proactive and transforming our challenges into opportunities—opportunities for innovation, economic growth and small business success that will result in a vibrant innovation economy and more middle-class jobs for Canadians." said The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
"Our community of early-stage investors, incubators and accelerators provides much-needed coaching, connections and capital to Canada's early-stage companies seeking to grow and scale up. Many times, their 'first customer' serves as critical validation that allows these companies to penetrate their markets locally and globally. The Innovative Solutions Canada program announced today will help Canadian companies gain early customer traction while also allowing Canadians to benefit from the adoption of homegrown innovative solutions." stated Sandi Gilbert, Chair of the Board, National Angel Capital Organization (NACO Canada).
Quick facts
For further information:
Karl W. Sasseville, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, ic.mediarelations-mediasrelations.ic@canada.ca
Related Links
http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home
Other Recent Company News |
|||||||||||||||||||
|