The Government of Canada launched its $1.26-billion Strategic Innovation Fund during an event at McMaster Innovation Park.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, kicked off the fund during a visit to the Canmet Materials research centre.
Ottawa will invest the money to support and spur innovation and grow public-private partnerships across Canada.
Filomena Tassi, MP for Hamilton West – Ancaster – Dundas, Bob Bratina, MP for Hamilton East – Stoney Creek, and John Oliver, MP for Oakville also participated.
Minister Bains said Canada needs more public-private collaborations, particularly those that help develop new technologies. He praised McMaster University for its many meaningful high impact partnerships with industry and business.
“Our government recognizes that innovation happens in every sector of Canada’s economy. The Strategic Innovation Fund is designed to reflect the diversity of innovative sectors that exist in Canada and to encourage cross-sector partnerships. This fund is an investment in jobs and skills training for Canadians,” he said.
Information on the Strategic Innovation Fund and today’s launch