The SIF’s objective is to spur Canadian innovation. The program has 4 streams, including:
- Stream 1 (R&D)- Encourage R&D that will accelerate technology transfer and commercialization
- Stream 2 (Expansion)- Facilitate the growth and expansion of firms in Canada
- Stream 3 (Global Investment)- Attract and retain large scale investments to Canada
- Stream 4 (Collaboration)- Advance R&D through collaboration between universities, non-profit organizations and the private sector.
The sharing ratio (contribution vs costs of activities) will not exceed 50% of the costs for eligible activities and the maximum level will only be considered in exceptional circumstances. Program contributions can be repayable, non-repayable, or a combination of the two. Non-repayable contributions will only be considered for activities that demonstrate strong, economic innovation, and public benefits with clear strategic value or global significance.
Eligible costs are limited to non-recurring costs that are specifically related to the project, including:
- Direct labour, subcontractors and consultants
- Overhead (program limits apply)
- Direct materials and equipment, land and buildings
- Other direct costs
Eligible applications for Streams 1, 2, and 3 must be a small- to medium-sized for-profit corporation. Applications to stream 4 must be a consortium, with a lead applicant incorporated pursuant to the laws of Canada, that may include Canadian universities, colleges, research institutes, for-profit corporations and not-for-profit entities.