OSPE - COVID-19 Economic Recovery Recommendations - Provincial Government - 14

8. 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.
Ontario 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 Ontario economy are investments
in IP. As outlined in the province'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". Many barriers remain
between Ontario's research ecosystem and industry which prevent innovation. 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 response, but also highlights the
underlying and more critical need 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.

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OSPE - COVID-19 Economic Recovery Recommendations - Provincial Government

Table of Contents for the Digital Edition of OSPE - COVID-19 Economic Recovery Recommendations - Provincial Government

OSPE - COVID-19 Economic Recovery Recommendations - Provincial Government - Cover1
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OSPE - COVID-19 Economic Recovery Recommendations - Provincial Government - Cover4
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