The Toronto-based MaRS Discovery District innovation hub has hit the “pause button” on expanding to Calgary after more than a year of discussions with the University of Calgary and other players in Calgary’s innovation ecosystem. However, MaRS says it will continue working with and supporting Alberta companies during the scale-up stage from its Toronto base.
Topic: oil and gas industry
Western Canada’s oil and gas industry is ideally positioned with the knowledge, assets and personnel to develop clean geothermal energy as part of the global transition to low-carbon energy, writes David Yager, an entrepreneur who has been a founder, executive and director of three oilfield service companies.
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.
The Clean Resource Innovation Network (CRIN) is making up to $80 million in federal funding available through oil and gas industry challenges to accelerate the development and commercialization of clean technology.
Canada’s continued poor performance in innovation and business productivity is due to a failure to link publicly funded research and innovation programs to an industrial strategy based on the country’s strengths, say innovation experts. Meanwhile, studies by University of Toronto researchers show the federal innovation agenda has negatively impacted funding for basic, investigator-driven research but hasn’t addressed the underlying problem of industrial innovation in Canada.
A growing number of Canadian universities, including some of the country’s largest, are significantly reducing the industrial carbon in their investment portfolios, a R$ survey shows. Less than a handful of universities are divesting specifically from fossil fuel holdings, but many schools also are using a “responsible investing” approach which considers environmental, social and governance factors.
The Alberta United Conservative Party government’s first budget will reduce the deficit but slashes support for the tech sector, advanced education, innovation funding and university students
Oil sands companies expected to play significant role in assessing and deploying new low-carbon technologies.
Clean Resource Innovation Network (CRIN) was allocated $100M in the federal budget, and is aiming to make Canada the world’s cleanest oil and gas producer.
Canadian oil and gas companies are ramping up investment in artificial intelligence and related digital technologies.