The situation is alarming. Quoting the The Conference Board of Canada:
Despite a decade or so of innovation agendas and prosperity reports, Canada remains near the bottom of its peer group on innovation, ranking 13th among the 16 peer countries.
Countries that are more innovative are passing Canada on measures such as income per capita, productivity, and the quality of social programs.
So far, there are no conclusive answers—or solutions—to Canada’s poor innovation ranking. https://www.conferenceboard.ca/hcp/innovation-aspx-2/ The figures for Business R&D spending, ICT investments and Venture Capital are even more alarming. The situation needs to be corrected immediately as Canada is nearly failing at inciting, stimulating investments. That being said, "A major roadblock for business and government is the lack of comprehensive data and information for diagnosing the problem. Once that solid evidence is obtained, the next steps will be to create firm-level strategies and reinvigorate the policy environment to encourage firms to innovate."
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