In 2023, Canada's total government support for R&D (GBARD and Tax Credits) was at 12.98 billion USD PPP. The forecasted data from 2024 to 2028 indicates a consistent growth trend, starting at 13.29 billion in 2024 and reaching 14.93 billion by 2028. This signifies a steady annual increase, highlighting the government's ongoing commitment to fostering innovation through financial support.
Year-on-year variations reflect annual increases in government R&D support: an average growth of approximately 3% yearly, with a compound annual growth rate (CAGR) of around 3.5% over the five years.
Future trends to watch for include the strategic allocation of these funds towards emerging industries such as clean tech, AI, and digital health. Additionally, monitoring policy changes that might influence these forecasts is crucial for stakeholders looking to maximize their investments in R&D.
