Guest Column: Frank McKenna says Atlantic innovation has a lot of catching up to do
Posted on October 31, 2023 | By Frank McKenna | 0 Comments
“The good news is we know the challenges and how to address them. We also know our strengths and how to leverage them to grow the economy.”
Statistics show there’s much work to be done building an innovative digital economy in Atlantic Canada. Just about every study has the region dead last in Canada in innovation, and the same studies show that Canada is subpar compared to the rest of the world—which means we’re really far behind.
There are many reasons we score so low. We have lower levels of venture capital investment and produce fewer patents… smaller investment in automation and robotics… lower labour productivity and much less public and private R&D. We also have a more rural economy made up of mostly small- and medium-sized enterprises, rather than the large businesses that drive an innovation agenda.
The good news is we know the challenges and how to address them. We also know our strengths and how to leverage them to grow the economy. We have several strong research universities and private institutions.
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