October Innovation Funding Bulletin
Hello Everyone!
In reading the Throne Speech I felt energized and inspired by how the Throne Speech addressed each Canadian’s concerns in a magnificent and majestic way. It’s the sentence “Taking on debt to reduce the amount of debt Canadians would have had to take on.” ensures that a financial catastrophe for each Canadian will not happen - where Canadians lose their homes and life savings en mass, and, businesses go bankrupt with financial, family, personal and health hardships beyond imagination. The federal government’s decision to shoulder the debt for Canadians is monumental. This decision is encouraging each of us running a business to continue moving forward and contributing to the economic wellbeing of Canada thereby creating a trickledown effect benefiting many more businesses.
ONE MILLION JOBS!
As announced in the Throne Speech, the Liberal government will launch a campaign to create one million jobs. The plan includes extending the Canadian Emergency Wage subsidy program until the summer of 2021, and, spending money on infrastructure and incentives to employers that hire and retrain workers.
THE ALBERTA RECOVERY PLAN’S POTENTIAL IMPACT ON JOB CREATION
Here are my estimates on how many jobs might be created via the Alberta Recovery Plan with its investment of $14B into the Alberta economy to create jobs and diversity the economy.
- $10B invested in infrastructure and is estimated to create 32,000 new jobs
- $6.393B in Keystone XL (equity), the Orphan Well Association, site rehabilitation, capital maintenance and renewal, child care operator supports, relaunch grants for SMEs, and, agriculture supports and forestry protection. Investment in Keystone XL is estimated to create 7,400 new jobs, and, thousands of jobs for the other initiatives.
- $1.025B in health care, community care supports, mental health, public masks, community supports, and, family supports where thousands of new jobs will be created
- $476M in technology innovation to reduce carbon emissions will create thousands of new jobs in the clean tech and resource sectors.
- The Job Creation Tax Cut is estimated to create 55,000 new jobs created by 2022
- The Innovation Employment Grant creating hundreds of technology new hires
- With funding allocated for the petrochemical sector, more jobs and high paying jobs will be created.
-As Alberta’s Natural Gas Strategy unfolds, it will also support further diversification of the sector – all supporting job creation.
PLUS funding allocated:
- $1.7B for orphan well clean-up
- $750M for methane emission reduction
- CRIN’s $100M program
- The 10 Year Petrochemicals Incentive Program grant program launching this fall, and
- $19B Federal ReStart Program along with all of the COVID-19 support programs (CEBA, RRRF, BDC/EDC financing).
PLUS - recent news re the potential for a rail line between Fort McMurray and Delta Junction in Alaska.
There’s lots of government funding, lots of opportunities, and, lots to consider as to your next best steps with innovating and growing your company. Call to discuss anytime!
FUNDING ANNOUNCEMENTS
CLIMATE ACTION AND AWARENESS FUND
$206 million will be invested in projects that will help reduce emissions across the country. The Minister also launched a request for proposals for community-based climate action projects. Up to $50 million over five years will be allocated to this priority area. The remaining funding will go toward three additional priorities under the Climate Action and Awareness Fund:
• Increasing climate youth awareness, engagement and action
• Advancing climate science and technology, and
• Supporting academia and think tank organizations to better understand Canada’s transition to net zero greenhouse gas emissions.
The new Fund was created with contributions from the existing Climate Action Fund and a significant investment from the Environmental Damages Fund. (The EDF collects fines from polluters who break Canada’s environmental laws.)
INDUSTRIAL ENERGY EFFICIENCY, CARBON CAPTURE UTILIZATION AND STORAGE
This program is designed to assist Alberta’s large industrial emitters reduce emissions, increase competitiveness, lower carbon compliance costs, and, improve energy efficiency through technology and equipment upgrades. Funding will cover up to 75% of project costs up to $20M. The deadline to apply is October 30th. Call for assistance as you may require!
BUSINESS SCALE-UP AND PRODUCTIVITY PROGRAM
The EOI for this program will close October 14th - call for assistance and/or critical reviews to ensure that your company’s submission is impactful. The next call will be January 15th to February 16th, 2021.
ALBERTA INNOVATES COVID-19 FUNDING
Seven Alberta-based researchers are receiving Alberta Innovates funding for innovative technology projects that will help fight COVID-19 - like antibody detection and the real-life experiences of patients and caregivers. “This critical funding from the Government of Alberta and Alberta Innovates will help our researchers carry out their work in the rapid detection, management, and reduction of the transmission of COVID-19. Thank you to Ministers Schweitzer and Nicolaides for their leadership in supporting this important research.” Laura Kilcrease, CEO, Alberta Innovates
GOOD NEWS IN ALBERTA’S AG SECTOR
Crop yields are estimated to hit a new record high in Alberta with farmers harvesting more than 7% above what is normal. Livestock market sales are estimated to also reach a new record high of $6.9 billion. The food processing sector is also expected to hit a new record with products totalling $14.8 billion.
Ruth Bader Ginsburg: A life of ‘incremental successes’ leading to courageous & monumental results.
Happy Thanksgiving, Best Regards, Be Safe, Be in Touch!
Eileen Ashmore, MBA, CMC Management Consultant - Technology Funding Specialist - Assisting Technology Driven Businesses Grow Revenues, and, Secure Innovation Funding Grants
Strategic Timelines works with your company to assist your Team learn about innovation funding, and, prepare funding submissions with compelling positioning strategies to significantly increase your company’s opportunity for securing funding, financing and/or investment. Call today for insight and strategies. 403 252 0799 eileenashmore@strategictimelines.com