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Federal Budget 2022: Ottawa bets on a new federal agency and a new ‘growth fund’ to try and bridge Canada’s innovation deficit

OTTAWA — The federal government is creating a new federal innovation agency to support both startups and legacy companies, but it’s chosen not to try to create a Canadian version of the U.S.’s DARPA.

It’s also creating a new $15-billion Canada Growth Fund (CGF) to try to encourage private sector investment to meet net-zero climate goals and strengthen supply chains.

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