“It’s an excellent short-term response to the Aerospace Review report,”
– Jim Quick, President and CEO of Aerospace Industries Association of Canada (AIAC)
The 2013 Economic Action Plan will provide $110 million dollars in Canadian small business grants and/or Canadian small business loans beginning in 2014-2015 along with $55 million on an annual basis thereafter. This will partly fund the creation of an Aerospace Technology Demonstration Program through the Strategic Aerospace and Defense Initiative.
Why Canadian Government Funding for Tech Demonstration will Prove Important
The technology demonstration phase is of critical importance. Demonstration of new technologies in real-world settings in vital in order to assure that aerospace products are both safe and perform up to standards. As many companies find it difficult to finance this stage of product development the Aerospace Review strongly urged the federal government to allocate Canadian government funding for business to help Canadian aerospace firms avoid having to abandon promising innovations.
Government Funding for Research and Development Included in Program
In response to these calls for action from the federal government this program will support large-scale technology projects that exhibit strong commercialization potential and promote cross-industry collaboration, including simulation trials, systems integration testing and refinement activities. A part of this program will include research and development funding support via post-secondary research collaboration.
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