Businesses in Canada urgently need to get more innovative. According to the Science, Technology and Innovation Council, Canada is falling steadily behind its global competitors on key measures of innovation. Most notably, Canada ranks 26th among
international competitors for business spending on research and development as a share of gross domestic product, sitting at just over one-third of the threshold amount spent by the top five performing countries.
To overcome Canada’s innovation shortfall, it is essential for all players in science, technology and innovation to collaborate for change. Canada’s colleges and institutes, well-established in their communities and connected with business, government, health care and community organizations, are fast becoming innovation hotspots. By leveraging their equipment, infrastructure and the expertise of faculty and students, colleges and institutes are responding creatively to the research and development requirements of partners in small business, industry and the community — at the same time, helping students develop
innovation skills they can use throughout their work lives.