Federal program helps SMEs bridge gap between R & D, marketplace

Western Canadian businesses have another avenue of support to help bring their innovative new technologies to market.

The Western Innovation (WINN) Initiative allows small- and medium-sized enterprises (SMEs) to apply for funding for a variety of tasks related to taking a product from the R & D stage to the market — such as product testing and technology demonstrations, equipment purchases and installation, regulatory approval, marketing and intellectual property protection.

Over the next five years, WINN will provide up to $100 million in repayable assistance to SMEs working to commercialize their products, processes and services.

“This initiative will help address a need identified by western Canadian businesses to help bring leading-edge innovations to domestic and global markets,” said Michelle Rempel, Minister of State for Western Economic Diversification in a news release.

The WINN Initiative, through Canada’s Economic Action Plan, is aimed at smaller firms across a range of sectors, including health and life sciences, clean technology and energy, aerospace and defence, nanotechnology and information and communications technology.

The Initiative is expected to help stimulate greater private sector investment, while also making it easier for innovative SMEs to secure funding.

WINN is a five-year, $100 million federal funding program for western Canadian businesses with less than 500 employees, to commercialize innovative technology-based products, processes or services.

Under this Initiative, small- and medium-sized enterprises (SMEs) that have new market-ready, technology-driven products and services may be eligible to apply for up to $3.5 million in direct, repayable funding. Eligible project activities for businesses include:

■ Introduction of a new product, process or service to new or existing markets;

■ Improvement of products, processes or services;

■ Technology development/ acceleration;

■ Product certifications, in- cluding Controlled Goods Registration;

■ Pilot projects (first user) and technology demonstration projects;

■ Validation of market potential and end-user acceptance; and

■ Support for marketing, productivity and process or quality improvement directly related to the commercialization of new opportunities.

The application intake period will begin on Nov. 9 and close on Dec. 8. SMEs interested in the initiative can find more information on WD’s website: www.wd-deo.gc.ca.