The Federal Government of Canada created the Canadian Innovation Commercialization Program (CICP) to help support businesses in commercializing their innovative products and services. This is a new government procurement program for business initiative and was launched to promote Canada’s economic growth. This Canadian government funding initiative is an acquisitions program where the government purchases the goods or services.
Canadian Government Procurement Program Overview
This government initiative was created to increase innovation in Canada’s business sector and will help companies commercialize their goods and services by:
- Providing innovators with the opportunity to enter the marketplace with a successful application of their new goods and services
- Providing information on how to do business with the Government of Canada
- Awarding contracts to entrepreneurs with pre-commercial innovations through an open, transparent, fair and competitive procurement process
- Testing and providing feedback to these entrepreneurs on the performance of their goods or services
It targets innovations in four main areas:
- Health
- Environment
- Safety and security
- Enabling technologies
Innovators are given the opportunity to sell their pre-commercialized goods and services to the Federal Government of Canada, connect with potential clients in federal government departments and get feedback on their proposal. This Canadian government program is not limited to small and medium-sized businesses, as all suppliers will be treated equally. The maximum funding available is $500,000 per proposal. It is important to note that only one proposal can be submitted for each innovation and this funding will not cover commercialization expenses.
Government Funding for Business Application
The Canadian Innovation Commercialization Program (CICP) has two different stages. If you would like support in this application process, I encourage you to contact one of our Canadian Government Funding Experts or signing up for a Free 60 Minute Government Funding Workshop. You can also receive additional information on government funding programs available to your business by following us on Twitter or Facebook.