{"id":1569,"date":"2017-05-02T11:33:10","date_gmt":"2017-05-02T15:33:10","guid":{"rendered":"https:\/\/www.innovators.org\/?p=1569"},"modified":"2018-10-05T05:45:14","modified_gmt":"2018-10-05T09:45:14","slug":"canadian-federal-budget-2017-focuses-business-innovation-good-news-ontario-smes","status":"publish","type":"post","link":"https:\/\/www.innovators.org\/stage\/blog\/canadian-federal-budget-2017-focuses-business-innovation-good-news-ontario-smes\/","title":{"rendered":"Canadian Federal Budget 2017 Focuses on Business Innovation (Good News for Ontario SMEs!)"},"content":{"rendered":"<p>Ontario \u2013 particularly southern Ontario \u2013 is one of the most competitive business environments in the country. This landscape forces businesses to improve constantly to stay alive, through innovation in areas like customer service, market diversification, productivity, product offering, and the list goes on.<\/p>\n<p>While it\u2019s a stressful situation for small companies just starting out, it also means that only the best companies are able to remain viable and thrive in the Ontario market. And these best-of-the-best businesses, with their willingness and ability to innovate, are in a great position to take advantage of some government funding to propel them into greater success.<\/p>\n<p>Here are a few highlights from the 2017 Federal budget that support the work of innovative businesses:<\/p>\n<ul>\n<li><strong>Expanded Funding for Hiring and Training: <\/strong>Several initiatives to support youth hiring, STEM education, upskill training, and green job creation.<\/li>\n<li><strong>New Strategic Innovation Fund: <\/strong>$1.26B to create a new five-year Strategic Innovation Fund to support a wider range of industries in their innovative endeavors.<\/li>\n<li><strong>National Research Council Funding: <\/strong>NRC undertakes initiatives such as providing Industrial Research Assistance Program (IRAP) grants to Canadian businesses.<\/li>\n<li><strong>Sustainable Technology Fund: <\/strong>A range of funding programs to support green and sustainable technology development.<\/li>\n<li><strong>Procurement Opportunities for Government Contracts: <\/strong>Improving Canadian companies\u2019 access to government contracts and helping to commercialize innovations.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.mentorworks.ca\/blog\/government-funding\/federal-budget-2017-supports-innovation\/\"><strong><em>Read more here!<\/em><\/strong><\/a><\/p>\n<p>Overall, the budget is very innovation-friendly! Ontario business owners should keep their sights set on what specific programs become available as the year progresses.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1572\" src=\"https:\/\/www.innovators.org\/stage\/wp-content\/uploads\/2017\/05\/Business-Meeting-300x200.jpg\" alt=\"Business Meeting\" width=\"425\" height=\"283\" srcset=\"https:\/\/www.innovators.org\/stage\/wp-content\/uploads\/2017\/05\/Business-Meeting-300x200.jpg 300w, https:\/\/www.innovators.org\/stage\/wp-content\/uploads\/2017\/05\/Business-Meeting-768x512.jpg 768w, https:\/\/www.innovators.org\/stage\/wp-content\/uploads\/2017\/05\/Business-Meeting-1024x683.jpg 1024w, https:\/\/www.innovators.org\/stage\/wp-content\/uploads\/2017\/05\/Business-Meeting-610x407.jpg 610w, https:\/\/www.innovators.org\/stage\/wp-content\/uploads\/2017\/05\/Business-Meeting-1080x720.jpg 1080w, https:\/\/www.innovators.org\/stage\/wp-content\/uploads\/2017\/05\/Business-Meeting.jpg 1512w\" sizes=\"auto, (max-width: 425px) 100vw, 425px\" \/><\/p>\n<p>On top of that, the government has an Ontario-specific program, <a href=\"http:\/\/www.feddevontario.gc.ca\/eic\/site\/723.nsf\/eng\/h_01867.html\"><strong>\u201cInvesting in Business Growth and Productivity\u201d<\/strong><\/a> (IBGP) that provides funding for small and medium-sized enterprises (SMEs) in Ontario who are innovating, adopting new technologies or processes, and potentially expanding into the global marketplace.<\/p>\n<p>It\u2019s clear the government recognizes the strength of Canada\u2019s businesses and the importance of promoting innovation to make Canada a key player in a sustainable global economy. We look forward to seeing what businesses can achieve with this support \u2013 especially our fellow companies in Ontario!<\/p>\n<hr \/>\n<p><strong>Innovators Alliance is a peer-to-peer networking group of CEOs committed to driving business growth through innovation. <\/strong><a href=\"https:\/\/www.innovators.org\/attend-exclusive-business-networking-event\/\"><strong>Be our guest at one of our upcoming events!<\/strong><\/a><\/p>\n<p><strong><em>Is your company innovative? <\/em><\/strong><a href=\"https:\/\/www.innovators.org\/innovation-self-test\/\"><strong><em>Try our Innovator Self-Test.<\/em><\/strong><\/a><strong><em> It has only 10 questions and takes less than 2 minutes<\/em><\/strong><strong><em>!<\/em><\/strong><\/p>\n<p><strong>Like this? You might also like:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.innovators.org\/blog\/hackathon-can-encourage-employees-innovate\/\">How a hackathon can encourage your employees to innovate<\/a><\/li>\n<li><a href=\"https:\/\/www.innovators.org\/blog\/strengthen-your-trademark-strengthen-your-business\/\">Strengthen Your Trademark, Strengthen Your Business<\/a><\/li>\n<li><a href=\"https:\/\/www.innovators.org\/blog\/new-video-innovation-innovators-alliance\/\">New Video! What Is Innovation and What Does Innovators Alliance Do?<\/a><\/li>\n<\/ul>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>Ontario \u2013 particularly southern Ontario \u2013 is one of the most competitive business environments in the country. This landscape forces businesses to improve constantly to stay alive, through innovation in areas like customer service, market diversification, productivity, product offering, and the list goes on. While it\u2019s a stressful situation for small companies just starting out, [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":5,"featured_media":1575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-1569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Federal Budget 2017 Focuses on Business Innovation (Good News for Ontario SMEs!) - Innovators Alliance<\/title>\n<meta name=\"description\" content=\"Ontario \u2013 particularly southern Ontario \u2013 is one of the most competitive business environments in the country.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Federal Budget 2017 Focuses on Business Innovation (Good News for Ontario SMEs!) - 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