Editorial - 19-8

Managers of S&T regardless of sector or affiliation would be wise to seek out an important new report that was released earlier this month. Based on a survey of 30 CEOs of smaller high-tech firms, it makes a compelling argument that Canada needs to re-think its innovation strategy and acknowledge the need for a greater emphasis on commerce (see page 3).

These so-called greenhouse firms are too often focused on financing their operation rather than addressing customer needs and funding new R&D from sales.

The report contends that, if Canada does not make commerce an integral element of the innovation system, Canadian firms will continue to fail or be snapped up by larger foreign interests, jeopardizing future economic prosperity and social wellbeing. What’s required is company executives who have a better understanding of customer needs and a greater appreciation for entrepreneurs by the nation as a whole.

This could be accomplished by infusing commerce into the thinking of the granting agencies and post-secondary institutions, or by establishing a program of commerce chairs filled by seasoned CEOs and entrepreneurs.

The first place the report should be circulated is among the members of the recently announced Industry Canada expert panel on commercialization (see page 7). By aligning their collective thinking on commercialization and its role in the greater sphere of commerce, politicians may be compelled to take note and draft the appropriate policies and programs.