Minister Paradis Challenges Canadian Businesses to Lead in the Global Digital Economy

STRATFORD, ONTARIO--(Marketwire - April 24, 2012) - Speaking at the Canada 3.0 Digital Media Forum, the Honourable Christian Paradis, Minister of Industry, challenged Canadian industry to take risks, invest, think creatively and act boldly to ensure Canada's success in the global digital economy.

"We need a growing information and communications technology sector that drives product and service innovations and propels them into every corner of our economy," said Minister Paradis. "We need to make Canada a world leader in the creation and use of digital technologies. That is where our future lies. To get there we must invest, adapt and innovate."

The Minister underlined the Harper Government's commitment to creating a competitive and viable digital sector, promoting greater adoption of technology across the entire Canadian economy and bridging the growing gap between urban and rural Canadians.

In support of these goals, the Harper Government has:

• Invested significant funds to leverage increased private sector investments in early-stage risk capital, including a $400-million investment to support the creation of large-scale venture capital funds led by the private sector.
  
  
• Set aside $110 million per year for the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), doubling the support available to companies, particularly smaller firms, that have been calling for increased NRC-IRAP funding.
  
  
• Expanded the Industrial Research and Development Internship Program to help graduate students get hands-on research experience in innovative Canadian firms while giving businesses access to the talent they need to compete in the digital economy.
  
  
• Invested in Broadband Canada to bring faster Internet speeds to nearly 218,000 Canadian households and committed to making more spectrum available through the upcoming spectrum auction.
  
  

"As a nation we need to take more risks, think more creatively and act more boldly to claim our place in the global digital economy," added Minister Paradis. "Together we can ensure Canada's place at the forefront of the digital economy. We can capture its potential, create technology and reap the benefits."