Government Grants and Financing for Businesses – II

The first part of this series looked at some of the government grants/funding available to businesses across Canada. This second and final part of the series will cover a few more nationwide programs available for different industries. There is a link at the end of the article that provides the full list of programs and can be narrowed down by province.

International Science and Technology Partnerships Program

The International Science & Technology Partnerships Program (ISTPP) aims to promote bilateral research projects that offer commercialization potential. The program supports networking and partnerships between Canada and its partner countries, namely, Brazil, China, India and Israel, to speed up the development process. The 5-year, $20 million program is designed to boost competitiveness by sharing knowledge through collaborative research. For partnerships involving Israel, the program is delivered through the Canada Israel Industrial Research & Development Foundation (CIIRDF).

Automotive Partnership Canada

As evident from the name, Automotive Partnership Canada offers financial aid to support cutting-edge automotive research activities. An eligible research and development proposal would focus to address industrial needs, involve collaboration from the sector and highlight the vitality of the industrial partner to the project. Some sample recently-funded projects include Cutting Vehicle Weight, Next Generation E-Vehicles and Canadian Battery Technology. The program offers funding to projects ranging from 6 months to 5 years in duration.

Engage Grants

The Engage Grants program offers short-term funding (maximum period of 6 months) of up to $25,000 for Canadian-based science and engineering businesses to solve a company-specific problem. The program aims to tap into the research expertise available at universities in Canada by promoting collaboration between industry and academia. However, restrictions such as the business being required to not have past affiliation with the partner and the proposal having potential to solve the existing problem are worth bearing in mind. Also, the approved fund is managed by the researcher/university and not the company.

Grant Programs for Writers and Publishers

The Grant Programs for Writers and Publishers is designed to assist professional writers and publishers by providing grants to support various aspects of their field such as creation/translation, assistance for organizational development and presentations, project assistance, publication and promotion, readings, literary festivals and travel. The link above leads to 22 programs that are currently available (at the time of writing).

Industry-Partnered Collaborative (Health) Research Program

The Industry-Partnered Collaborative Research Program is targeted toward academic health researchers. This program offers researchers a maximum of $250,000 per year for up to 5 years when they work in collaboration with an industry partner in Canada to improve the quality of health in Canada. It is essential that the industry partner is involved in all stages of the project for the grant to be approved. Although the project may be initiated by academia or industry, the academic researcher is responsible for submitting the grant application.

Youth Employment Program

As the name indicates, the Youth Employment Program is designed to facilitate employment of youth in Canada. It offers for-profit corporations, with a maximum of 500 full-time employees, an incentive to hire post-secondary graduates for a duration of 6 to 12 months to assist in development and commercialization of new technologies. It is important to note that the program will only cover a portion of the salary and other incurred expenses are to be paid by the employer.

You can find the comprehensive list of programs here.

Have you or your company used one of the programs listed in this article? If so, do you have any insight from a former/current beneficiary’s perspective?

About the Author: Clark works in Saskatchewan and has been working to build his (DIY) investment portfolio, structured for an early retirement. He loves reading (and using the lessons learned) about personal finance, technology and minimalism. You can read his other articles here.

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Clark works in Saskatchewan and has been working to build his (DIY) investment portfolio, structured for an early retirement. He loves reading (and using the lessons learned) about personal finance, technology and minimalism. You can read his other articles here.
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Michael Kohn
7 years ago

I think that Canada is really moving in the right direction.

Youth Employment Program is my favorite investment program among those listed, because I think these payments are really an investment that the government does, with a very high ROI over time.