On February 27, 2018, following the release of the 2018 Federal Budget, CCI issued the following series of statements on the budget.
On the budget commitment to develop a National Intellectual Property Strategy:
“A national intellectual property strategy is long overdue for Canada and is critical to ensuring the success of the government’s innovation agenda. Canadian innovators welcome the creation of an ‘IP Collective’ as a new tool in Canada’s 21st century digital policy toolkit. The commitment upwards of $85 million over the next five years is a strong start for the government to ensure the value of publicly-funded research stays within Canada and benefits the national economy, as well as creates freedom to operate for domestic firms.”
On the budget commitment to fund a National Cyber Security Strategy:
“Canada has proven potential to create world-class technology in cyber that can be used for securing our own borders, our own citizens and our public and private infrastructure. Canada’s domestic cyber innovators are hopeful the new cyber strategy includes a greater opportunity for strategic co-development between the public and private sector, and a targeted focus on developing and retaining cybersecurity talent.
The imperative to build domestic cyber capacity is not just economic – it’s existential. Without a domestic capacity in cyber we risk becoming a client state. Innovators welcome the announcement of a new Canadian Centre for Cyber Security, which will allow for information sharing between the public and private sector.”
On the topic of modernizing procurement for domestic innovation firms:
“A major validator for a company to be able to sell around the world is showing it can do business with its own government. Canadian innovators welcome measures in Budget 2018 that will make it easier and more streamlined for domestic technology companies to sell their made-in-Canada solutions to the federal government.”
On advancing high-growth domestic companies through the Trade Commissioner Service:
“Too much of our current trade strategy and promotion is focused on exporting low-margin traditional goods. Canada is in need of a trade strategy that advances high-growth companies around the world that sell intangible assets and operate in the borderless data-driven economy.
CEOs who run high-growth innovative companies look forward to working closely with the Trade Commissioner Service as it orients itself towards growing Canada’s intangible exports.”
On the topic of Canada’s high-skills labour gap and the need for a talent retention strategy:
“With Canada facing a vacancy of 220,000 technology jobs in 2020, innovators expect the government to develop both a strategy for talent development and retention. Unfortunately, despite the proposed measures, Budget 2018 remains vague on how the government plans to address Canada’s high-skills brain drain.”
On the absence of language around a National Data Strategy:
“Canadian tech CEOs continue to advocate for the need of a national data strategy that will enable Canada to become a leader in the data-driven global economy.”
On the impact of tax changes on the innovation economy:
“It was important for the government to demonstrate to innovators, venture capitalists and angel investors that any new tax measures will not be punitive towards the innovation ecosystem. Canada has a revenue problem, and innovators believe the best way for the government to grow new revenues is by helping its most market proven technology companies to scale-up globally, so they can create more well-paying jobs here in Canada.”
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