Feds to unveil 'supercluster' winners that will get slice of $950M funding pie
The Trudeau government on Thursday will announce the winners of a competition to form technology ``superclusters'', a prize that will guarantee the chosen groups a piece of up to $950 million in federal funding.
The contest is central to the Liberals' so-called innovation agenda and is designed to encourage academia and businesses to work together on strategies to boost fast-growing sectors.
Economic Development Minister Navdeep Bains will unveil the five winning bids at an event at the Canada Science and Technology Museum.
Last fall, the government narrowed a field of about 50 applicants to nine finalists that are made up of groups pitching projects in many different areas, including advanced manufacturing, artificial intelligence and clean technology.
The money will be distributed over five years to the winners, which will have to match the federal funding they receive dollar for dollar.
The government is hoping the leverage from its $950-million commitment will help unlock business investment in research and development as a way to lift the economy.