Canada Innovation Corporation

In February 2023, the Government of Canada released its Blueprint for the Canada Innovation Corporation (CIC).  The CIC will have a focused, outcome-driven mandate to increase Canadian business expenditure on R&D across all sectors and regions of Canada and help to generate new and improved products and processes that will support the productivity and growth of Canadian firms.

While the CIC will ultimately operate as a parent Crown Corporation, CDEV incorporated the CIC as a subsidiary as an interim measure.

As per the statement released by the Department of Finance Canada and Innovation, Science and Economic Development Canada on December 19, 2023, the full implementation of the CIC is scheduled for no later than 2026-2027. You can view the statement here.