Innovation, Science and Industry
How Innovation, Science and Industry spent its budget in fiscal year 2023-24, shown as net expenditures by standard object from Public Accounts Volume II.
The Department of Innovation, Science and Industry (ISED) is the federal department responsible for fostering economic growth, technological advancement, and scientific research in Canada. It plays a key role in supporting businesses, funding research and development, and shaping policies that aim to enhance innovation, industrial competitiveness, and the prosperity of the Canadian economy.
Department Spending
In FY 2023-24,
$9.76B
was spent by Innovation, Science and Industry
In FY 2023-24,
1.9%
of federal spending was by Innovation, Science and Industry
On the consolidated accrual basis (Volume I), this portfolio’s expenses were $10.38B in FY 2023-24 — see the overview and methodology.
ISED spent $9.76B in fiscal year (FY) 2024, or 1.9% of the $521.4 billion in overall federal spending, ranking eleventh among federal departments and placing it just outside the ten largest departments that together account for the large majority of federal spending.
Spending by entity, FY 2023-24
Department of Industry
National Research Council of Canada
Natural Sciences and Engineering Research Council
Social Sciences and Humanities Research Council
Statistics Canada
Canadian Space Agency
Canadian Tourism Commission
Standards Council of Canada
Copyright Board
$4.35B
$1.53B
$1.38B
$1.16B
$740.7M
$450.7M
$122.7M
$20.4M
$4.1M
Federal spending shifts over time with population growth, changes in policy and programs, and emerging priorities, and acute events can move it sharply from year to year: during the COVID-19 pandemic, the Government of Canada's total expenses rose from $346.2 billion in 2019 to $373.5 billion in 2020 and $644.2 billion in 2021. ISED's own spending has grown over the long run, but its share of the federal budget has held close to 1.9% over the past decade.
How did Innovation, Science and Industry spend its budget in 2023-24?
ISED's budget is spread across several entities. The Department of Industry itself accounts for roughly $4.3 billion, with the balance flowing to science and research bodies in the portfolio — the National Research Council of Canada, the granting councils (the Natural Sciences and Engineering Research Council and the Social Sciences and Humanities Research Council), Statistics Canada, and the Canadian Space Agency, among others. The department is led by the Minister of Innovation, Science and Industry, a member of cabinet appointed by the Governor General on the advice of the Prime Minister.
Innovation, Science and Industry’s share of federal spending
Percentage of federal spending, 2014–2025
Line items
Every transfer-payment (grant and contribution) program, in dollars. These are the named programs behind the transfer-payments object in the chart above. Search, sort, and download the full table.
| Category | Description | Amount ▼ |
|---|---|---|
| Contributions | Contributions under the Strategic Innovation Fund | $1,404,605,079 |
| Grants | Grants and Scholarships | $1,013,969,433 |
| Grants | Research Support Fund | $451,451,621 |
| Contributions | Industrial Research Assistance Program—Contributions to Firms | $408,981,271 |
| Contributions | Contributions under the Canada Foundation for Innovation | $375,805,058 |
| Grants | Grants and Scholarships | $349,997,394 |
| Contributions | Contributions under the Universal Broadband Fund | $288,572,613 |
| Grants | Grants under the Canada Digital Adoption Program: Stream 2 | $250,200,182 |
| Contributions | Contributions under the Global Innovation Clusters | $222,657,064 |
| Contributions | Contributions to the Canada Foundation for Sustainable Development Technology | $139,173,431 |
| Contributions | Contributions to Mitacs Inc. | $126,000,000 |
| Grants | New Frontiers in Research Fund | $121,635,699 |
| Grants | College and Community Innovation Program | $108,964,405 |
| Grants | Canada First Research Excellence Fund | $96,422,060 |
| Contributions | Liabilities under the Canada Small Business Financing Act (S.C., 1998, c. 36) | $88,972,630 |
Explore other federal departments
Innovation, Science and Industry figures are net expenditures by standard object from Public Accounts Volume II, and will not match the Volume I consolidated headline totals. See the methodology for details.
