2017 Federal Budget Supports Innovation Economy

On March 22^nd, the Canadian government unveiled its national budget for 2017. Billed as the "innovation budget," the budget is part of the federal government's Innovation and Skills Plan, a strategy for supporting startups and growth companies across the nation's manufacturing, agri-food, cleantech, digital/tech and health/bioscience sectors.

Some of the highlights of the budget include:

• Superclusters: $950 million earmarked for a funding program to support and develop "superclusters" (business-led incubators and accelerators, B2B partnerships and other innovation networks);
• Cleantech: Major commitments to data initiatives and business development funds in support of the cleantech sector, including dedicated funds for equity investment and working capital, totalling 1.4 billion in new financing for the sector;