Canada to Streamline Grant Application Procedures

Updated on Tuesday 27th March 2018

Research and development has become one of the most important industries in Canada in the past few years and the number of grant programs dedicated to such activities has increased spectacularly during the same period of time. Now, the government wants to streamline the procedures related to obtaining funds for such activities and reduce the number of assistance programs from 92 to 35 by consolidating more of them into one. Our Canadian company formation agents can help foreign investors who want to open companies in this country.

The Canadian government means to spur innovation

The 2018 Budget was released at the end of February and one of the most important provisions in its content relates to increasing the support and funding for research and innovation, however, in order to succeed, the government plans to do that by reducing the number of assistance programs from 92 to 35. This way, streamlined procedures will help Canadian companies with such activities.

The decision is also based on companies’ complaints with respect to the difficult and lengthy procedures related to applying for grants and funds with different agencies when enrolled in several research programs.

The government’s plans include:
  • reducing 17 programs administered by the National Research Council to 9;
  • consolidating 6 programs coordinated by the Natural Sciences and Engineering Research Council into one;
  • consolidating 9 programs administered by the Natural Resources Council into 3.
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Research and development to generate 340 million dollars in 2018

One of the main reasons for the government to create beneficial conditions for Canadian companies in the research and development field is the amount of money these will generate this year, which is projected to be 340 million dollars, representing a 25% increase in the last 5 years.

The first step towards the simplified procedures for grant applications was taken at the beginning of the year when the authorities have announced the creation of the online portal Innovate Canada which will soon gather and sort funding applications.

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