YES Canada to Adopting 5 All Party Election Platform Recommendations

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More than one study has shown Canada is not seen as innovative in the world’s eyes – an Accenture study last year concluded that Canada lags behind other G20 nations in fostering digital platform innovation, and the World Intellectual Property Organization’s Global Innovation Index placed Canada in 15th place among the world’s 25 most innovative nations in 2016.

Canada’s ranking in the World Bank’s Ease of Doing Business report has dropped to 22nd from 14th the previous year. Also, in a recent survey of large firms, the Business Council of Canada found that 64 percent of CEOs said Canada’s investment climate had worsened in the last five years, noting growth in the tax and regulatory burden.

We urgently need a new way, new models to advance Canada in the rankings. It’s time for Government to demonstrate true innovation leadership.

Our call to action to all party leaders is to embrace 5 recommendations:

(1) Recognize that while Canada remains strong in terms of the quality and impact of its scientific output, it is lagging further and further behind in its ability to commercialize that output and generate wealth

(2) Create a 21st Century Tax Commission focused on improving the nation’s support for innovation through fiscal measures, test all recommended measures through robust public consultations, and deliver a final report in twelve months

(3) Complete the SR&ED review with proposed improvements and then test them through robust public consultations

(4) Support current work on developing a modern IP system with appropriate fiscal measures for IP (intellectual property) exploitation in Canada and also provide assistance to cover some of the costs of the patent process

(5) Publish benchmarking metrics comparing Canada to other leading countries building innovative capacity.

Adopting these recommendations will bring us much closer to having a system of innovation in which government, universities and the private sector work more closely together to move from invention to commercially viable solutions. This will not only create jobs, retain our talent in Canada, but also provide more solid returns to Canadians.

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