2024 Innovation Report Card: Benchmarking Canada’s Innovation Performance

2024 Innovation Report Card: Benchmarking Canada’s Innovation Performance

Innovation and Technology
Pages:34 pages19 min read

Author: The Conference Board of Canada


This year’s Innovation Report Card provides an evidence-based assessment of our nation’s performance across 21 indicators of innovation performance compared with 19 of our peer nations. As such, innovation is one of the most important drivers of economic growth and living standards.

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Innovation is the process through which economic or social value is extracted from knowledge –by creating, diffusing, and transforming ideas – to produce new or improved products, services, and processes.

This year’s Report Card assesses 21 indicators of Canada’s innovation performance. Overall, Canada ranks 15th when compared with 19 peer nations and earns a C rating. Currently, is Canada performing better or worse than in previous years? What are the country’s chances of recovery over the next few years? On which indicators does Canada score below average and on which indicators does it show strength? The 2024 Report Card identifies seven areas that potentially could improve Canada’s innovation performance. What constitutes those areas?

Read the impact paper to get our full analysis.

Key findings
Areas where transformative intervention is needed
Achievement near par with peer country performance
Achievement exceeds peer country performance
Appendix A: Methodology grade assignment
Appendix B: All indicators table
Appendix C: Bibliography

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