New Research Centre Dedicated to Advancing Innovation in Canada

By: CBoC Team

Ottawa, May 4, 2023 — The Conference Board of Canada has today announced the establishment of the Canadian Centre for the Innovation Economy (CCIE) along with founding members MaRS Discovery District and the Innovation Economy Council.

“Canadian entrepreneurs and business leaders are facing an increasing number of challenges,” said Susan Black, President and Chief Executive Officer at The Conference Board of Canada. “The Canadian Centre for the Innovation Economy will develop insights to advance an agenda for innovation in this country that allows our brightest minds to take their ideas to market.”

Canada has long faced an uphill battle in innovation, and according to the Global Innovation Index’s 2022 report, the country ranked 15th of 132 nations in its innovation rankings. The Conference Board of Canada’s own Innovation Report Card ranked the country 11 out of 16 countries, with a “C” rating in its 2021 report. The report found Canada had high rankings in ambition but fell behind in critical areas including research and development, labour productivity, patents and venture capital.

“The Innovation Economy is one of Canada’s most important pillars of growth,” said Yung Wu, Chief Executive Officer, MaRS Discovery District. “The CCIE partnership brings together our unique strengths in this space, to chart the pathway for Canada to create a global competitive advantage in our knowledge-based industries, through a flourishing innovation sector.”

The Centre will work with its members to unpack the significant pain points to improved innovation in Canada, specifically big problems in the space including intellectual property, research and development, red tape, talent and the skills gap.

The Innovation Economy Council was formed in 2021, as a coalition of tech-sector leaders founded by MaRS and 12 partner organizations who will support the new shared mission of CCIE.

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