Ottawa delays launch of innovation funding agency Canada Innovation Corporation

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Open this photo in gallery: Chrystia Freeland, Minister of Finance, speaks at a meeting of federal, provincial, and territorial finance ministers in Toronto on Dec. 15, 2023.Nathan Denette/The Canadian Press The federal government is punting a flagship innovation funding scheme to beyond the next election and launching a long-promised review of its biggest single spending initiative for funding research and development, Finance Minister Chrystia Freeland said Tuesday. The department of finance said in a release it would delay the “full implementation” of the Canada Innovation Corporation (CIC), a funding agency first announced in the 2022 budget, to “no later than…

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