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Strengthening Canada's Innovation Economy

Explore Canada's struggle to compete in the global economy and the need to strengthen its innovation economy. Learn about the Centre for Communications and Information Technology and its efforts to bridge the innovation gap through research commercialization and industry-academia collaborations.

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Strengthening Canada's Innovation Economy

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  1. Ron Killeen Managing Director Centre for Communications and Information Technology

  2. Canada’s Innovation Challenge • Canada is struggling to compete in a global economy: • Sustained by our resource base and (until recently) our relatively low dollar • But our long term sustainability should be based on our innovative capacity • Increasing Prosperity and Innovation gap against other countries: • Canadian industry R&D investment is amongst lowest in industrialized world • Productivity and prosperity is roughly 80% of US • Manufacturing sector is struggling to compete • Low (and diminishing) venture capital investments • Decreasing student interest in Science and Technology • Canada has tremendous advantages: • Resource sector provides economic underpinning • Highly educated population • Culture that breeds innovation & creativity • Low costs, even in a dollar parity situation Source: Task Force on Competitiveness, Productivity and Economic Progress, Roger Martin (Chairman)

  3. OCE – A Summary • Context for Ontario Centres of Excellence: • Leverage the exceptionally high intellectual capacity in academia to our economic benefit • Imperative that Canada strengthens its Innovation Economy if we are to maintain our prosperity and quality of life • Leading driver of research to commercialization in Ontario • Mandate to improve Ontario competitiveness through innovation • Not-for-profit corporation • Supported by Ministry of Research and Innovation • Founded in 1987 • Offices across Ontario: • Toronto, Mississauga, Ottawa, Waterloo, London, Kingston, Markham, and Sudbury • Offices in many of the universities

  4. OCE Objectives • Economic development through innovative technology: • Helping industry increase its innovation agenda • Connect industry and academia • Enable companies to improve their competitiveness and productivity and expand their markets. • Addressing Canada’s key technology priorities • Advance research in academia • Develop students • Our main strengths: • Network (industry, investment community, academia, gov’t) • Program funding – smart money • Partnerships (Gov’t, 4th pillar, clusters/associations) • Team – BD Managers have strong industry/investment experience

  5. Fiscal Year Results • $22 million invested • 450 research projects • Over 700 Primary Investigators • Over 3000 researchers/students • $33M co-invested by industry and other partners • Main investments are in collaborative research projects • Key Research to Commercialization outcomes: • License transfers • Industry jointly working with academia to solve problems • Graduate students who take a full time job with the industry partner • Startup companies

  6. Results 2007 – 2008 • Approx. 1800 graduate students to positions outside academia. • 41 new licenses • 38 start-up companies • $450 million in capital attracted by companies to commercialize IP • Early stage seed investment fund: • $5.5 million seed investment, leveraged to over $250M through follow-on investment and acquisitions • More than 700 “knowledge based” jobs created

  7. OCE Focus • 5 Centres with following technology priorities: • Communications and Information Technology • Earth and Environment • Energy (alternative) • Materials and Manufacturing • Photonics • New $46M Provincial Program that provides: • Seed fund to support new companies ($500K per investment) • Entrepreneur development & mentoring program • NCE Centre for Commercialization of Research • Scaling up the OCE Commercialization Program • Extending the reach of OCE nationally • Adding new initiatives (e.g., Market Analysis) to fill in gaps

  8. Commercialization of Research • License • Other Technology Transfer • Students • Challenges: • Industry • Engagement • License • Negotiation • Collaborative Research: • Industry financial support • Industry guides research • Supports Research • Build Innovation Economy • Nominal License Value University Research • License • Startup Companies • Challenges: • Investments • High Risk • Entrepreneur • Expertise • IP Development: • Prototype Development • Market Research • No private funding • Late stage research • Build Innovation Economy • Potential High Return

  9. Observations on Commercialization • Straight patents typically do not have much value: • Demonstrable technology • Customer interest • Areas of academic expertise and market demand: • Digital Media (spans many technology areas) • Convergent Medical Solutions • Environmental Solutions • Energy and Natural Resources • Advanced Materials (including bio products) • Technology Convergence leads to better opportunities: • Innovative products tend to draw on solutions from multiple disciplines • Encourage departments / schools to collaborate • Example, engaging computer science students with nearly any other discipline can lead to commercial opportunities • Canada’s universities are a relatively untapped, high yield, source of IP

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