Feds launch new job-creating initiative
Innovation, Science and Economic Development Canada announced $950 million in funding for superclusters
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Innovation Superclusters Initiative
Ottawa – Innovation, Science and Economic Development Canada has announced it will invest $950 million in support of superclusters.
The federal government explains in a statement that superclusters are dense areas of business activity where innovation happens and where many of the middle-class jobs are created.
This new Innovation Superclusters Initiative is part of the government’s Innovation and Skills Plan.
In order to qualify for some of the funding, says the statement, proposals will have to show a clear “strategy for creating and growing new companies, creating jobs that require advanced skill sets, equipping Canadians with the knowledge and skills for the jobs of the future, attracting private investment and generating meaningful economic activity.”
The government will select up to five innovation superclusters.
In the statement, the government explains that the initiative will benefit all Canadians because the aim of the superclusters is to create “well-paying middle-class jobs.” The $950 million is expected to help “jumpstart innovation in high-growth sectors.”
On the federal government’s website, it explains that the Innovation Superclusters Initiative will invest the funds between 2017 and 2022.
The aim, says the website, is to support “business-led innovation clusters with the greatest potential to energize the economy and become engines of growth.”