Strategic Innovation Fund

Last updated: 26 April 2023

The Government of Canada launched its Strategic Innovation Fund (SIF) with the aim of spurring and accelerating innovation. Starting in 2021, the SIF has an incremental budget of CAD 7.2 billion over seven years. CAD 5 billion will be dedicated to SIF’s Net Zero Accelerator, a program which supports the scaling up of projects that decarbonize heavy industry, supports clean technologies, and reduces greenhouse gas emissions. 

In October 2020, the Government of Canada announced that CAD 100 million of SIF's funds from 2021-2024, would be administered through the Clean Resource Innovation Network. This initiative aims to accelerate the development and adoption of innovative technologies and processes that seek to lower the oil and gas industry’s environmental impacts, including clean tech and emission-lowering solutions. The funding was provided acknowledging the impacts of the COVID-19 pandemic, and aims to help the oil and gas sector rebound, create jobs, and reduce its greenhouse gas emissions.  

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