Breaking research out of the lab: Canada doesn’t lack innovators, it lacks entrepreneurial innovators

We need to learn how to embrace entrepreneurship in Canada. From our lenders, to tax policy to large corporate procurement departments. We are much too timid when it comes to jump starting start ups in Canada. LET’S GET WITH THE PROGRAM!

Financial Post | Business

Canada needs more innovation. Or so recent news headlines across the country would have you believe. We are told Canada is falling behind on the world stage, and that innovation is the solution to generate decent jobs, to economic prosperity and to increase our global influence.

And yet many of the country’s universities, colleges and hospitals are ranked among the best globally in terms of research. On a per capita basis, Canada’s research output rivals the world’s top nations, and we often accomplish more with less resources.

Canada’s problem is not a lack of innovation. What we are terrible at is commercializing that research. Most innovations in Canada are either commercialized abroad, or worse, never make it out of the lab.

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Canada doesn’t need more innovation; what it needs is more entrepreneurial innovators. Ask any entrepreneur and they will tell you that starting a company is hard. Leaving…

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