Various levels of government have implemented a series of policies, programs and strategies that support innovation and encourage its development.
- The PR@M Innovation program allows citizens, organizations and companies to finance the development of original projects and to support innovation, experimentation and commercial zones.
- The financial results of the industrial clusters strategy speak for themselves: the 1.6 million dollars invested annually by the Communauté métropolitaine de Montréal has generated spinoffs of 6 million dollars in public and private investments.
Prompt grants, provided through Quebec’s MEIE, can be combined on a federal level with Mitacs or the NSERC to finance partnerships between industry and university institutions.
- The governments of Quebec and Canada offer around a dozen fiscal and financial initiatives encouraging investment in ICT, including:
- the refundable tax credit for the development of e-business (CDAE)
- the refundable tax credit for the production of multimedia titles
- the tax holiday for foreign researchers and experts
- the Scientific Research and Experimental Development Tax Incentive Program (SR&ED)
- the program of partnerships between academia and industry to encourage innovation (Mitacs)
- the Industrial Research Assistance Program (IRAP)
- the Canada Economic Development for Quebec Regions program (Economic Development Canada)