ANNOUNCEMENT 28 Apr 2015In April 2015, the government of Canada announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On April 28, 2015, Industry Minister James Moore announced details of the new Automotive Supplier Innovation Program (ASIP). This program is outlined in Economic Action Plan 2015, and under consideration by the Parliament. The ASIP is expected to provide $100 million in contributions to automotive suppliers over five years, starting in 2015.
This new program is designed to fill a gap between early-stage basic research and pre-commercial development. Eligible activities will include prototype development, process engineering, and pre-commercial product testing and validation. Each company is eligible to receive up to $10 million over the term of the program and will require a minimum of 20 percent from a partner that is a small or medium enterprise.
The Government of Canada began accepting applications for contributions under the ASIP in June, 2015.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.