Organization: Rio Tinto

After billions in funding, Strategic Innovation Fund failed to improve Canada’s innovation performance, experts say

Nearly $3.4 billion in federal spending through the Strategic Innovation Fund (SIF) during the last three years has failed to improve Canada’s “disastrous” innovation performance and productivity, say some innovation and policy experts. An analysis by Research Money of SIF data shows that Ontario, Quebec and foreign-based firms have received the lion’s share of SIF funding.

Research Money ≠ Research Effort

Expenditure-based measures have been the most successful and best used indicator of innovation to date because the data can be collected with minimal effort and maximum accuracy (not perfect) and interpreted without huge complexities.