ANNOUNCEMENT 25 Jan 2019
This investment was made through Canada’s Strategic Innovation Fund, which aims to accelerate economic growth, strengthen and expand the role of Canadian firms in regional and global supply chains, support economic strategies, and attract investment.
NUMBER OF INTERVENTIONS
On January 25, 2019 Minister of Innovation, Science and Economic Development, Montréal, Quebec Navdeep Bains announced a Can.$40 million (U.S.$30.3 million) subsidy to Nokia Canada. This investment will support Nokia’s capabilities in optical, IP routing and software offerings. Nokia will also establish a Bell Labs presence in Canada, focusing on artificial intelligence and machine learning research and incorporating these new capabilities into networking solutions.
This investment is being made through the Strategic Innovation Fund, a program that is “designed to attract and support high-quality business investments across all sectors of the economy by encouraging R&D that will accelerate the transfer of technology and the commercialization of innovative products, processes and services and will facilitate the growth of innovative firms.”