Keeping NANO Canadian...in Canada The knowledge-based economy is now in its fourth decade and there is plenty of evidence around the world to show how successful countries can lead in this changed economy and why we must abandon the uniquely troubling suite of Canadian approaches to innovation.
What does a real innovation strategy for Canada look like? After decades of failed strategies, we should first understand what success does not look like:
- Innovation success is not being employed by or selling off research to foreign companies before they’re commercialized.
- Innovation success is not buying someone else’s technology.
- Innovation success is not equating economic output of foreign tech branch plants with domestic innovation outputs.
- Innovation is not launching organizations that accelerate the transfer of taxpayer-funded research to foreign companies.
- Innovation success is commercializing Canadian ideas at scale globally and in a manner that brings most, if not all, the ensuing wealth effects to Canada’s economy. It is about Canadian companies not just creating jobs but skillfully securing and then expanding their place in global value chains and creating new wealth and prosperity. This is what raises average worker wages.