On April 19, 2021, the Government of Canada announced its 2021 budget (Budget 2021) with goals to finish the fight against COVID-19, ensure a strong economic recovery, and position Canada for a prosperous future. To accomplish its objectives, the government has set aside funding for proposed expenditures in the areas of intellectual property (IP) and technology.
Budget 2021 will build on the National Intellectual Property Strategy of Budget 2018 by funding Canadian innovators, start-ups, and technology-intensive businesses. This includes providing $75 million for the National Research Council’s Industrial Research Assistance Program to assist high-growth client firms with obtaining access to IP services.
Budget 2021 also proposes to use $90 million to establish the ElevateIP program, which will help accelerators and incubators provide IP services to start-up companies. These direct investments are complemented by the launching of a Strategic Intellectual Property Program Review to conduct a broad assessment of IP provisions in Canada’s innovation and science programming, including both basic research and near-commercial projects.
Alongside its general IP investment plan, the Government of Canada has allocated funding to various technology initiatives in Budget 2021, such as proposing:
Summary By: Imtiaz Karamat
Disclaimer: This Newsletter is intended to provide readers with general information on legal developments in the areas of e-commerce, information technology and intellectual property. It is not intended to be a complete statement of the law, nor is it intended to provide legal advice. No person should act or rely upon the information contained in this newsletter without seeking legal advice.
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