Once the approval happens, you still have to review financials and other details and structure it into a contract. Once the contract is structured, then you sign it. After that, there is oversight year over year for the funding. It can be anywhere from three to five years, and there is a minimum requirement of reporting every 12 months. You have to review the progress before you provide the next tranche of funding.
Evidence of meeting #103 for Industry, Science and Technology in the 44th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was board.
A recording is available from Parliament.