Canada’s technology sector has been a major economic driver in the growth of the Canadian economy. While it was proposed and promised by the Trudeau government in 2015 to pitch itself as a high-tech hotbed, many tech innovation companies are downright disappointed with the way things have shaped up. Over 130 Canadians tech heads have urged the Canadian Prime Minister to roll out a prosperity plan as the government has been extremely sluggish for fuelling the innovation sector. The letter stated that the innovators are “seeing less of a bold, cohesive plan for innovation in Canada and more of a patchwork.”
The Trudeau government had boosted funding for research and innovation by C$9.4 billion in 2015. There were a string of programs like the Strategic Innovation Fund, the Innovation Superclusters Initiative and creation of the Economic Strategy Tables which were aimed to infuse tech innovation in the Canadian business system. The revitalized research policy, however, has been fragmented in terms of a strategic plan.
The companies are facing harshest of the challenges due to the COVID-19 pandemic and have accelerated the urgent need for comprehensive nation building projects. The Council of Canadian Innovators helped to arrange the letter as the tech companies are deeply concerned with the economic impact and there are pressing needs to prioritize post pandemic recovery plans. The executives who penned the letter suggested to build up a Canadian ecosystem where Canadian innovators can thrive both at home and abroad, commercialize innovative ideas, reduce financial strain on innovators, and develop processes around intellectual property and data. They urged that the prosperity plan will not only help in recovering lost jobs due to pandemic but also create new economy, new industries, and new infrastructures to create more innovations.