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 Toronto-based National Angel Capital Organization (NACO) will establish the first pan-regional digital hub for investors and entrepreneurs in a custom-built space in the new Platform Innovation Centre being built by Platform Calgary in downtown Calgary.
Canada needs to be prepared for the “tectonic shift” of intangibles powering new ways of delivering services that contribute more than three-quarters of Canada’s GDP, Bert van den Berg writes in an op-ed.
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.
Toronto-based digital accelerator Bay Street Diary and India Network have teamed up to establish a US$100-million venture capital fund for entrepreneurs and startups in Canada and India.
Toronto-based MaRS Discovery District has proposed expanding some of its innovation components to Calgary. However, key players involved in exploratory talks say the $60-million “MaRS West” initiative will need to complement, not compete with, Calgary’s existing innovation entities and ecosystem.
Some academic researchers are questioning the focus and merits of Ontario’s new IP plan and whether it’s the right policy tool to achieve the province’s economic goals. But the plan’s supporters say it will help generate intellectual property and commercialize research done by post-secondary institutions for the benefit of Ontario’s economy.
Canada’s six regional development agencies will direct federal COVID-19 relief funding to small and mid-sized companies and sectors that fall between the cracks of other relief programs.
More than 550 members of Alberta’s innovation system call on the UCP government to act on an expert panel report to help the province’s struggling tech sector.
The federal government is providing $1.2 billion in emergency funding to help startups and rural businesses survive the COVID-19 crisis. Participants in Canada’s innovation sector say government could also help by providing tax incentives, matching funding and loans for angel investment.