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Manufacturers will benefit from Technology Demonstration Fund

Published by Brad Fougere on September 20, 2015

Today, Prime Minister Stephen Harper announced that, if re-elected, his Conservative Government would establish a new Manufacturing Technology Demonstration Fund to support large, pre-commercial projects in advanced manufacturing.

“This new fund is exactly in line with what we have called for,” says Canadian Manufacturers & Exporters President & CEO Jayson Myers. “We believe that a technology demonstration fund is important because it would improve the ability of Canada’s leading manufacturers to secure new investments in major industrial R&D mandates, strengthen our technology base in advanced manufacturing and lead to new high tech supply chain opportunities for small and medium-sized firms throughout Canada’s manufacturing sector.”

The Conservative proposal would provide up to $100 million in funding over five years through non-repayable grants to a select number of major projects in the automotive, information and communication technology, steel, aluminum, and machinery and equipment sectors. 

Successful private sector partners would involve an "anchor firm" collaborating with small- and medium-sized firms, universities and colleges. Projects would be evaluated according to their potential to help Canada become a world-leader in the selected technology area, the degree to which the project builds on Canada's existing capabilities, assets or natural advantages and the extent to which the project involves Canadian suppliers and small- and medium-sized enterprises and positions them for future opportunities in global supply chains.

“We need to ensure that Canada can compete with other leading industrial economies like the United States, Japan, Germany, Korea and the UK when it comes to the development and adoption of advanced technologies in manufacturing,” Myers says. “A Manufacturing Technology Demonstration Fund would accelerate new product development and the investments required by Canadian manufacturers to compete in world markets.”

 

 

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