Editorial - 17-8

With increasing globalization and tight financial markets, the commercialization conundrum facing Canadian technology companies is getting more difficult and perplexing by the day. Models and strategies that gained considerable cachet one or two years ago have failed to deliver, prompting another round of concepts that appear to have learned from past mistakes.

This issue features two models that are being developed to assist telecom and biotechnology firms respectively (see page 3). Although they differ in their scale and point of intervention on the commercialization continuum, they both share an acknowledgement that shared expertise using virtual networks can make the difference between success and failure.

Onefield is a small firm focused on early-stage biotech firms that hopes to use tax-incentive assisted funding pools to move companies and their intellectual property towards the marketplace. It’s identified a gaping void and is assembling the necessary expertise to accelerate the process.

OrbitIQ is being developed on a much larger scale and aims at developing branding and market channels for telecommunications and financial services firms with existing products and sales. With an impressive global network of advisors and services, the model is rapidly gaining traction.

Both models, however, require government action and cooperation to properly succeed. This doesn’t mean handouts or financial assistance, but changes in policy, regulation and attitude. Ottawa has been sitting atop the commercialization file for far too long. It’s time to listen to these and other private sector leaders to arrive at a workable strategy for creating jobs and growth.