Canada’s Budget 2025 provides a fair opportunity to foster innovation and intellectual property (IP) in a constantly evolving world. The budget recognises innovation as central to Canada’s economic growth and aims to achieve this by supporting and growing Canadian businesses. The Canada Budget 2025 aims to create conditions for sustainable, long-term economic growth by fostering innovation, technology adoption, and private sector investments.
Support to IP Programs:
The budget provides funding to Innovation, Science and Economic Development Canada and the National Research Council of Canada to continue supporting Canadian SMEs with their intellectual property needs.
- The government will invest $84.4 million over four years to help start-ups and SMEs manage, protect, and commercialize their IP. Renewed funding provides an opportunity for businesses to work with Elevate IP partners for assessing their current IP portfolios, identifying potential gaps, and enhance their IP protection or monetization.
- Allocation of $22.5 million for renewal support to the Innovation Asset Collective’s Patent Collective. Clients in IP intensive sectors are encouraged to explore the Patent Collective to benefit from pooled expertise, shared resources, and guidance on developing strong patent portfolios.
- The $75 million over three years allocation expands tailored IP advisory services through the National Research Council, provides an early opportunity to businesses in engaging with IP Advisory services for integrating IP planning into their research and development initiatives and position their innovations for long term growth and investment.
Performance review system:
The government aims to review intellectual property performance to explore partnerships with growing IP-intensive firms, increase domestic investment, retain and commercialize IP in Canada, and support companies in expanding their IP into international markets for trade diversification.
Support Canadian Firms’ Innovation-to-Export Pipeline:
The initiative aims to support Canadian tech companies’ expansion into international markets, aiming to boost and create stronger economic growth.
Other highlights:
- Reduce the cost of investments for Canadian companies through a new Productive Super deduction, encouraging more private sector investments.
- Directing investments into AI projects for adoption within Canada
- Developing a comprehensive AI strategy and a new incentive and support program for AI initiatives.
We encourage clients who have already accessed the Elevate IP program, as well as those interested in exploring it, to speak with us. We note that these funding programs can cover a significant (70%+) amount of the costs.
Together, we can review your intellectual property portfolio, identify assets that may be suitable for funding, and help position your innovations to maximize support under the program. Engaging early ensures you can take full advantage of the resources available to grow, protect, and commercialize your IP.
This article is intended to be informational only and not for the purpose of providing legal advice. You should not act or refrain from acting based on any information provided. Please consult a lawyer should any specific legal questions arise.