Update:
The federal government announced today it is extending its Innovation Assistance Program to help businesses manage the economic impacts of COVID-19.
Minister of Innovation, Science, and Industry announced the government will spend over $155 million to extend the National Research Council of Canada Industrial Research Assistance Program's (NRC IRAP) Innovation Assistance Program (IRAP IAP).
The extension will allow existing recipipents to access funding on a priority basis until Dec. 19, 2020. The maximum benefit will gradually decline as the program processes, the government says.
In a press release issued today, Trudeau's government stated "Since April 1,2020, IRAP IAP has assisted more than 2,200 Canadian firms and supported more than 24,000 Canadian jobs so that Canadians can focus on their health, not their job security. The new funding announced today will ensure that Canada's high-potential, innovative firms can continue to weather the economic storm of COVID-19."
Original story:
Prime Minister Justin Trudeau is slated to make an announcement at 1 p.m. today.
Trudeau will be joined by Minister of Innovation, Science and Industry Navdeep Bains and President of the Queen’s Privy Council for Canada and Minister of Intergovernmental Affairs Dominic LeBlanc. Chief Public Health Officer of Canada Dr. Theresa Tam and Deputy Chief Public Health Officer of Canada Dr. Howard Njoo will be in attendance.
Village Media will carry the livestream, so stay tuned.