A Tax Court of Canada ruling that reduced a Montreal aerospace company’s federal Scientific Research and Experimental Development tax credits impacts the entire tech sector and further complicates a government incentive program already rife with problems and in need of reform, say innovation advocates.
Organization: Council of Canadian Innovators
FEDERAL ELECTION More than 200 Canadian tech and business executives are asking more of their peers to sign an open letter calling on federal political leaders to outline how Canada can achieve “prosperous, secure, equitable and sustainable” growth in a post-pandemic economy. Released Aug. 24, the letter stresses the need for Canada to adopt Canadian-made…
Some prominent business groups are welcoming a Conservative innovation policy calling for a new Canadian advanced research agency modelled after the U.S. Defense Advanced Research Program Agency (DARPA).
Petronas Energy and Itochu Corporation consider exporting blue hydrogen from Alberta, a UWaterloo engineering team gets backing to secure Canada’s critical energy infrastructure, FedNor grows up, and more.
Federal Budget 2021 included the government’s largest-ever investments in intellectual property and IP services, underscoring the importance of protecting and leveraging IP for Canada’s economic growth, according to IP experts and heads of innovation groups.
The 2021 federal budget gives a big boost to the NRC’s Industrial Research Assistance Program, BC budget provides $500 million to new fund for tech startups, US President Joe Biden proposes funding surge for federal research agencies, Canada’s Stem Cell Network to receive $45 million dollars for regenerative medicine therapies, and more.
In this week’s The Short Report, the Government of Alberta contributes $20 million for vaccine R&D, a Canadian Infrastructure Bank invests in Ontario’s energy grid, 5G wireless tech to increase safety and reliability in the mining industry, Palette Skills leads consortium to address talent gaps in a post-COVID economy, and more.
Canada’s continued poor performance in innovation and business productivity is due to a failure to link publicly funded research and innovation programs to an industrial strategy based on the country’s strengths, say innovation experts. Meanwhile, studies by University of Toronto researchers show the federal innovation agenda has negatively impacted funding for basic, investigator-driven research but hasn’t addressed the underlying problem of industrial innovation in Canada.
Canada has launched its first patent collective to help data-driven clean tech companies understand, generate and strategically use intellectual property in scaling up. The Innovation Asset Collective, backed by $30 million in federal funding, includes a defensive “war chest” to help Canadian SMEs defend their patents in an often predatory global IP marketplace.
Innovation experts and business groups are stepping up calls for the federal government to fix a “weak and out of balance” innovation ecosystem. Canada continues to lag other countries in innovation performance and productivity, according to international indexes.