I'll make one slight clarification. We have a sister organization called the Canadian Association of Petroleum Producers. They have the lead in policy advocacy and communications. We're scientists. We stick to the innovation front and usually make up our asks and our policy prescriptions through CAPP. Let me step outside of my box a bit.
Focusing our existing innovation investments is just as important as focusing potential new innovation investments through the federal innovation agenda. When you take a look at the pledged amount of $800 million for a series of superclusters, which is the major spending vehicle in the government's innovation agenda, it's a small proportion of existing investments when you add up what is invested through NRCan, NRC, NSERC, and SDTC in granting capacity. The list is quite extensive.
We need a deliberate look at where the existing innovation investments are going to make sure they align with current innovation theory such as market pull and that there is sufficient investment to scale up companies and bring them over what, in innovation parlance, is called “the valley of death”. There seems to be lots of support for small companies, but if you're a very big company, then in some regard you've already proven yourself. Scaling up through medium-sized companies seems to be quite different globally, but potentially more difficult in Canada.
Continuing and potentially expanding the SR and ED tax incentive program would be an important thing. Our major ask for the innovation space is to invest in this sector in a supercluster. I think the value proposition we see is that it's not just to reduce the greenhouse gas emissions of Canada but to develop novel solutions for the world. We could play a leadership role in reducing emissions globally and in that find new economic activity and whole new sectors for Canada.
We have one project, which we call the COSIA carbon Xprize. We're offering $20 million to the team that best takes carbon, which right now is a waste and a liability, and changes it into a valuable product. What we're doing is offering $20 million to the team that can reimagine carbon and change it from a liability to a resource. That's the type of thing we're doing in this sector and in COSIA.
Partnering with the Government of Canada in a supercluster that is designed to link more people with novel experiences, different backgrounds, and different perspectives.... The more people you get focusing their unique skills on a clearly defined problem, the more good things will happen. We know that. We've already seen it inside of COSIA. The supercluster concept has potential to catapult Canada onto the global stage of the innovations solution space.