Space Strategy for Canada
exactEarth received an investment of $7.2 million through the Strategic Innovation Fund to support a $14.4 million project. The project will support the development, management and expansion of the company's real-time Satellite Automatic Identification System (AIS) service for ship tracking and shipping routes optimization. The funding will help exactEarth create and maintain 67 jobs.
Delivering the Vision – Canada's Space Strategy (continued)
4 Position Canada's commercial space sector to help grow the economy and create the jobs of the future
By their very nature, space activities require us to be at the forefront of innovation. The technologies needed to support missions in space are often transformative, resulting in enhanced industrial capabilities and incentivizing significant R&D investments. Space technologies have also spun-off into the creation of new downstream services, products and solutions that link other economic sectors to space, driving growth and productivity gains across the economy. To position Canadian industry to benefit from the rapidly growing international space economy, forecast to triple to US$1.1 trillion in the next 20 years, Canada will pursue regulatory reform, market access and efforts to scale up firms, and maintain a domestic industrial base that can meet Canada's future space needs. Canada will:
- Create a modern regulatory framework: Building on announcements in the Fall Economic Statement regarding the creation of simpler, clearer and more modern regulatory systems, the Government will review Canada's regulatory framework for space-related activities to ensure they provide timely responses for industry, maintain strategic oversight for national security and enable commercial growth. This work will examine whether the regulatory system is keeping pace with emerging technologies and new business models in the space sector, and whether it is enabling innovative space companies to prosper in Canada.
- Cement and expand our international partnerships: Building on Canada's trade diversification strategy, Canada will secure and expand its privileged relationship with the European Space Agency (ESA) to support the ability of Canadian firms and researchers to benefit from ESA missions by renewing the Cooperation Agreement between Canada and ESA until . This partnership has a demonstrated four-decade track record of connecting Canadian firms to the supply chains of European-based globally leading space firms, providing access to new technologies and programs. In addition, Canada will continue to seek those benefits for Canadians through its ongoing collaborations with NASA and by strengthening relations with space agencies in other international markets. To further reinforce efforts to access global supply chains, Canada will continue to support business-to-business exchanges to better showcase Canadian expertise to the world.
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