Pilot “Dragon’s Den”-style project to boost Canadian companies now permanent

Build in Canada Innovation Program also adds military component.

Comments Off on Pilot “Dragon’s Den”-style project to boost Canadian companies now permanent July 9, 2013
by Canadian Press

CALGARY — The federal government has made a pilot project which encourages Canadian companies to develop products and get them from the lab to the marketplace a permanent program. The program gives small- and medium-sized businesses contracts for pre-commercial inventions or services in hopes of creating high-value jobs.

The government provides feedback, performance testing and the opportunity to enter the marketplace if the new goods or services are successful. The Build in Canada Innovation Program is an Economic Action Plan 2012 commitment to add an additional $95 million over three years, starting in 2013-14, and $40 million per year thereafter to make the pilot program permanent. The pilot program was called the Canadian Innovation Commercialization Program (CICP).

Public Works Minister Rona (RAH’-nah) Ambrose told a gathering of defence, security and aerospace executives in Calgary the program now has an additional component directed toward military procurement.

She said the government is more effective as a customer than as a subsidizer. Ambrose said it’s estimated that every $1 billion in defence or security spending creates or sustains 18,000 jobs and $710 million in gross domestic product.

© 2013 The Canadian Press