Innovation, Science, and Economic Development Canada (ISED)

Definition

Innovation, Science, and Economic Development Canada (ISED) is a federal government department responsible for fostering a competitive and innovative economy, supporting Canadian businesses, and promoting sustainable economic growth. 

What is the Innovation, Science, and Economic Development Canada?

ISED’s primary purpose is to promote economic development, innovation, and entrepreneurship in Canada. It aims to create the conditions for businesses to grow, innovate, and compete in the global marketplace while fostering a strong and inclusive economy that benefits all Canadians.

ISED plays a central role in advancing innovation and science initiatives to drive economic growth and improve Canada’s global competitiveness. It supports research and development, technology commercialization, and collaboration between industry, academia, and government to foster innovation and drive breakthroughs in key areas such as clean technology, digital technology, and advanced manufacturing.

Furthermore, ISED provides support and resources to help small and medium enterprises (SMEs) start, grow, and scale their businesses. This includes access to financing, advisory services, mentorship programs, and support for export and international trade opportunities.

In an increasingly digital world, ISED is responsible for developing policies and strategies to promote the growth of Canada’s digital economy. This includes initiatives to improve access to high-speed broadband internet, enhance digital knowledge and skills development, and support the adoption of digital technologies by businesses and individuals.

ISED engages with international partners and organizations to promote trade, investment, and innovation cooperation. It works to strengthen Canada’s position in the global economy and advance its economic interests on the international stage.