Canadian innovation doesn’t need more money: it needs a brilliant vision
An article published this month in Science and Public Policy makes the startling claim that “between 74 and 90 per cent of total spending on support for business research and development (R&D) each year since 2000” has been distributed not as one would expect by the Ministry of Innovation, Science and Economic Development (ISED), but by the Canada Revenue Agency (CRA). The CRA’s Scientific Research and Experimental Development (SR&ED) program is one of the most generous tax incentives in the world, providing “more than $3 Billion” annually, according to its website. Viewed under this lens, programs like the Strategic Innovation Fund…