OSPE - COVID-19 Economic Recovery Recommendations - Federal Government - 10
6. Create a dedicated fund to support Ontario businesses in Research and Development (R&D) activities with
a strong focus on local commercialization, including development and protection of Intellectual Property (IP)
for Ontario and Canada's benefit.
The federal government must support the Ontario Government to create a dedicated fund that continues to spur innovation within the
province. Canada should encourage research and development (R&D) that will accelerate technology transfer and commercialization of
innovative products, processes, and services based on immediate demand.
As a result of COVID-19, many businesses are having to shift their operations, processes, products, and services, and the need to invest
in research and development has become crucial to their ability to remain competitive. Another significant element to the economic
success of these businesses and the Canadian economy are investments in IP. As outlined in Ontario's IP Report titled Intellectual
Property in Ontario's Innovation Ecosystem, "product enhancements and services based on IP have low or even zero marginal
production costs, and result in 'winner take all' economies". To address this, government must incentivize businesses to invest in
developing and protecting IP.
A focus on dollars for systems/products/services most impacted by the COVID-19 crisis such as development of large-scale oxygen
delivery therapies for emergency and long-term care, and more robust HVAC systems to minimize circulation of viruses, should be of
primary importance. What has emerged already and during previous crises provides lessons for our near-term, but also highlights the
underlying and more critical to better resource research and innovation efforts.
It is critical that the R&D and innovation dollars provided contribute to the Canadian economy long-term. Although this will benefit all
businesses, it will have an amplified benefit to small and medium sized enterprises (SMEs), as they do not have the resources to invest in
product and process development at the same rate. Through this fund, the government will minimize the risk of investing in local
commercialization and will support the retention of key engineering talent throughout Ontario's diverse R&D ecosystem, while promoting
competitiveness and innovation.
OSPE - COVID-19 Economic Recovery Recommendations - Federal Government
Table of Contents for the Digital Edition of OSPE - COVID-19 Economic Recovery Recommendations - Federal Government
OSPE - COVID-19 Economic Recovery Recommendations - Federal Government - Cover1
OSPE - COVID-19 Economic Recovery Recommendations - Federal Government - 1
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OSPE - COVID-19 Economic Recovery Recommendations - Federal Government - Cover2
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