Jobs, Growth and Prosperity by Bringing Minds to Market

OTTAWA, ONTARIO--(Marketwire - March 6, 2012) - How do you create the next Research In Motion, Apple, Intel or Facebook? Where will the next Bill Gates, Jim Balsillie and Mike Lazaridis, or Steve Jobs come from? How do we make sure it happens here in Canada? These are the questions that the Honourable Gary Goodyear, Minister of State for Science and Technology, posed today in his keynote address to The Economic Club of Canada in Ottawa.

"Canada's long-term economic competitiveness depends on supporting innovative businesses that create jobs and growth," said Minister of State Goodyear. "That is why our government has made science and technology a priority since coming to office."

Support for science and technology (S&T) has been a fundamental priority of the Government of Canada since 2006, including the introduction of the science and technology strategy in 2007.

Federal S&T expenditures reached $11.7 billion in 2010–11. "We have demonstrated this commitment with each phase of the Economic Action Plan," said Minister of State Goodyear.

The S&T strategy is guided by the principle that innovation is driven by collaboration and the commercialization of ideas that emerge from the manufacturing floor or the university laboratory. "The fact is, our strategy—and our significant investments—encourage partnerships among the private sector, academia and government," added Minister of State Goodyear.

In his speech, Minister of State Goodyear outlined the achievements of the Government of Canada's science and technology strategy, which is aimed at attracting and retaining the world's brightest researchers, increasing investment in research and development (R&D), and commercializing promising research.

Minister of State Goodyear also noted that the government would take action shortly on the recommendations of the independent expert panel whose mandate was to review federal support for business R&D. "The Jenkins Panel, which delivered its report last October, did outstanding work," he said. "We agree with the general direction of the changes that need to be made to address Canada's business R&D challenges, and we will act soon."

The government is assessing the panel's recommendations within the broader context of its economic agenda and other priorities and is preparing to act on certain elements of the panel's advice.

To learn more about the Government of Canada's science and technology initiatives, visit the Science and Technology for Canadians website (www.science.gc.ca).