cover image: Unlocking Innovation to Drive Scale and Growth

Premium

20.500.12592/6qjtp2

Unlocking Innovation to Drive Scale and Growth

2 Feb 2017

That said, three specific bottlenecks in the ecosystem do appear to be contributing to the country’s underperformance in this area: a gap between invention and revenue-generating commercialization a struggle to scale up successful start-ups and small and medium-sized enterprises (SMEs) no burning platform for corporate adoption of innovation A gap between invention and revenue-generating com [...] Furthermore, Canada’s ranking on business-university R&D collaboration declined to 19th place in 2015.10 The reasons for this are complex and interrelated, including a lack of local R&D-intensive corporations to develop and adopt inventions, a lack of qualified staff within universities and companies to build relationships and broker collaboration, and insufficient funding to support early and ris [...] The reasons are complex and include a small and fragmented local market, shortages of experienced business talent, a lack of at-scale sources of growth capital, and an aversion to risk on the part of some of Canada’s established companies. [...] Small firms account for about half of business sector employment in Canada versus just over one-third in the United States.11 This lack of scale accounts for 4 Unlocking innovation to drive scale and growth 20 percent of the labour productivity gap between Canada’s business sector and that of the United States.12 Canada’s start-ups also have smaller exits and face a longer path to exit than their [...] Connecting to sectors, and getting to scale The Council recommends that the government map the sectors and opportunities in Canada’s key economic sectors.
government politics economics economy artificial intelligence clean technology investment science and technology research supply chains best practices canada business economic growth government policy investments venture capital bank best practice jobs collaboration business finance capital (economics) economy, business and finance cleantech business development bank of canada innovators arpa-e growth capital
Pages
36
Published in
Ottawa, ON, CA

Related Topics

All