Competition Policy Review weighs in on innovation and post-secondary education

Guest Contributor
July 7, 2008

The federal government should establish a Canadian Competitiveness Council within Industry Canada to help implement a host of proposed measures to enhance Canada's competitive advantage. The recommendation was one of 65 contained in the eagerly awaited final report of the Competition Policy Review Panel to increase competitive intensity through productivity and business environment enhancements.

Chaired by LR (Red) Wilson, former chair of BCE Inc and reporting to Industry minister Jim Prentice, the Panel is calling for major changes to intellectual property (IP) and patent legislation, adoption of an "innovator ownership" policy at Canadian universities and a new report on ways to facilitate greater venture capital particularly at the angel stage (see chart).

The Panel recommends the creation of a competitiveness agenda that would lead to Canada establishing a world-class business environment to attract talent and capital, strengthen businesses through competition as the essential driver of productivity and innovation, and more effective collaboration between business and all levels of government.

Many of the report's recommendations focus on streamlining or stripping away government legislation governing the conduct and activities of business and encouraging foreign direct investment. This includes changing the net benefit test – which was used to halt the sale of MacDonald Dettwiler & Associates sale of its space assets – from "net benefit to Canada" to "contrary to Canada's national interest. The requirement of the relevant minister to assume the burden of being satisfied that the standard was being met would be eliminated.

The report also weighs in on specific industrial sectors including air transport, uranium mining, financial services and telecommunications and broadcasting. For the latter, it recommends a two-phased approach leading to liberalization of foreign investment restrictions.

The panel's approach to Canada's post secondary system is to pursue greater specialization, strengthen ties to business and give business more say in what is being taught.

"Our education institutions must make choices in order to focus on achieving world-class expertise and pursuing excellence through greater specialization," states the report. "Post secondary institutions must collaborate more closely with the business community."

The report also weighs in with recommendations to enhance Canada's innovation and IP legislation. It notes that low business R&D spending must be seriously addressed through the tax system and other measures to increase competitiveness.

R$

Panel Recommendations
(selected)

* Federal and provincial policies should focus on smaller firms that demonstrate the desire and capacity to become large enterprises

* Industry and Finance departments should develop and release a public report on options (including tax incentives) to facilitate provision of more private venture capital, especially angel financing

* Monitor the scientific research and experimental development tax credit program to ensure that business investment in R&D and innovation is effectively encouraged

* Ensure that new copyright legislation will both sufficiently reward creators while stimulating competition and innovation in the Internet age

* Post secondary institutions should expedite the transfer of intellectual property rights and commercialization of university-generated IP. One option is to move to an innovator ownership model to speed commercialization

* Gradually liberalize provincial tuition policies offset by more student assistance based on income and merit

* Pursue greater specialization at post-secondary level by focusing on strategies to attract top international talent, especially in math, science and business

* Use all mechanisms possible to encourage post-secondary institutions to collaborate more closely with business to enhance institutional governance, curriculum development and community engagement

* Incentives to attract foreign students and send more Canadian students abroad

* Double the number of international students in a decade

* Fast track processing of immigration applications under the new Canadian Experience Class of skilled temporary foreign workers



Other News






Events For Leaders in
Science, Tech, Innovation, and Policy


Discuss and learn from those in the know at our virtual and in-person events.



See Upcoming Events










You have 1 free article remaining.
Don't miss out - start your free trial today.

Start your FREE trial    Already a member? Log in






Top

By using this website, you agree to our use of cookies. We use cookies to provide you with a great experience and to help our website run effectively in accordance with our Privacy Policy and Terms of Service.