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Innovation Studies

Commercialization of ideas

Canada ranks relatively low among industrialized nations in the amount of research funded and performed, and in the number of scientists and engineers in the workforce. Industry Canada continues to support generators of knowledge and help ensure that new ideas have ready access to markets. Some of its initiatives include:

• the Canadian Biotechnology Strategy announced in August 1998, to guide federal biotechnology efforts and decisions. A commitment of $55 million over three years for biotechnology research and development (R&D) was announced in the 1999 budget.

Industry Canada must work to stimulate the interaction between science and industry in order to bring new products and services to market as quickly as possible

Technology Partnerships Canada

Technology Partnerships Canada (TPC) is an example of how Industry Canada promotes the development and commercialization of innovation by investing in technology development. In partnership with the private sector, TPC invests in high-risk near-market development and demonstration projects across Canada. TPC leverages more than four dollars of private sector R&D spending for every dollar it contributes.

TPC invests an annual base budget of $300 million in priority areas such as: environmental technologies that address climate change and sustainable development; biotechnologies that improve the health of Canadians and improve the productivity of our agriculture, aquaculture and resource sectors; advanced manufacturing technologies and advanced materials that have strong enabling effects across the economy; leading-edge information and communications technologies (ICTs); and the development of new products and technologies for Canada’s aerospace and defence industry.