Topic: Strategic Innovation Fund

Biotech firm gets federal, provincial funds for advanced manufacturing

Canada’s largest biotech company, STEMCELL Technologies, will receive $45 million to develop regenerative medicine products in an advanced manufacturing facility. The federal government and British Columbia will each contribute $22.5 million for their project that includes building a $138-million production facility by 2022, and consolidating the three Vancouver locations of the company into a single…

Aerospace sector gets federal support for innovative helicopters

An aerospace consortium led by Québec-based Bell Helicopter Textron Canada Ltd. is receiving $49.5 million from the federal government to develop innovative technologies for integration into next-generation helicopters. Support was provided through the Strategic Innovation Fund. With fully autonomous aerial systems, the innovative helicopters will be designed to fly either with or without crew on…

Automotive firms receive $100 million from new SIF

Guelph ON-based Linamar Corp has received $49 million from the new Strategic Innovation Fund (SIF) to develop its advanced manufacturing capabilities around artificial intelligence and 3D printing, and cleaner automotive technologies. The $1.26-billion fund was announced in Budget 2017 and bundles several existing programs to support a range of high-growth and innovative sectors – such…

Canada to catalyze innovation in chemical sector

Canada is investing $35 million in NOVA Chemicals Corp, which recently invested $2.2 billion in foreign direct investments to grow its chemicals and plastics manufacturing business in Ontario and Alberta. NOVA Chemicals is setting up a new polyethylene facility and expanding its existing ethylene production in Ontario, a project that is estimated to grow the…

CMC Microsystems extends window for securing new financing; prepares for leadership change

The leaders of CMC Microsystems have announced their retirement after saving the organization from a near-death experience and giving it renewed hope of further funding after current government commitments end in 2019. President and CEO, Dr Ian McWalter, will step down at the end of the current FY after 33 years of engagement and — years at the helm. Also stepping down is Dan Gale, VP and CTO, who joined CMC (then known as Canadian Microelectronics Corp) prior to its incorporation 1984.