Research Money asked Innovation, Science and Economic Development Canada (ISED) to respond to four questions about criticisms of the Strategic Innovation Fund (SIF) program. In response, ISED says SIF is producing “significant benefits” for Canadians, including new jobs created, co-op placements and investment in R&D and new technologies.
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.
Inequality has reinforced the uncertainty and precarity experienced by many Canadians, which in turn fosters fear and resistance to new technology.
In a policy paper for Ontario360, Sean Speer and Jamison Steeve argue that business support programs don’t stand up to cost-benefit analysis. But other researchers say their arguments don’t stand up to scrutiny.
The Ontario government spends approximately $5 billion a year on business support programs, many of which don’t stand up to cost-benefit analysis, according to Jamison Steeve and Sean Speer in a new paper published by Ontario 360, a public policy research group housed at the University of Toronto’s Munk School of Global Affairs and Public Policy.
Many stakeholders in Canada’s innovation ecosystem are calling for an independent, comprehensive review of Canada’s tax system.