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M wong supercharge investing pdf

m wong supercharge investing pdf

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Similarly, on the delivery of skills programming, the Plan supports Canadians throughout every stage of their lives, promoting lifelong learning with tailored programs for youth, post-secondary students and recent graduates, and those in mid-career. To succeed, the Innovation and Skills Plan is dependent on building leadership from businesses and other stakeholders from across the innovation system. It requires industry to invest in innovation, and non-profits and post-secondary institutions to participate in partnerships that will reinforce innovation ecosystems.

Investments made through the Plan so far are significant. However, the financial and in-kind contributions that these investments are attracting from other levels of government, businesses, and not-for-profits are increasing their value tremendously. The Innovation Superclusters Initiative illustrates effectively the power of partnerships and collaboration in driving innovation and competitiveness by bringing together a long list of businesses, post-secondary institutions, and other participants.

The Plan reflects a novel, experimental approach to supporting innovation that emphasizes risk taking in a number of first-of-their-kind programs and initiatives in Canada: the Innovation Superclusters Initiative, Innovative Solutions Canada, the Strategic Innovation Fund, and Innovation Canada. The grand challenges approach repositions the Government and innovators as partners in thinking beyond what is possible today to develop novel solutions to cross-cutting challenges with broad commercial potential.

Modelled on an international best practice of competitive countries, this approach enables Canadians to be bold and creative, and imagine and deliver new innovations that can change the world. As a small country, Canada must focus on developing its potential high-growth areas. In addition to the six Tables, work is underway in other sectors such as space and tourism.

Moreover, the development of regional growth strategies builds on all the elements of the Plan to ensure that programs take into account regional priorities and needs. Overall, through this sectoral approach, the Government and the private sector are working together to remove barriers and embrace opportunities to enhance Canadian leadership. For Canada to become a leading nation of innovators with a healthy innovation culture, all Canadians must be able to participate fully in the economy of the future, including members of underrepresented groups, such as youth, women, Indigenous people, seniors, Canadians with disabilities, newcomers, and residents of rural and remote communities.

The Innovation and Skills Plan is implementing targeted initiatives to give these groups access to the skills, technologies, funding, and other resources that they need to seize new economic and social opportunities. This is not only the right thing to do, but it also provides new sources of innovative ideas that have the potential to change the world and bolster Canada's leadership as a nation of innovators.

The Innovation and Skills Plan includes bold and ambitious targets that are impressive and large scale by design. Achieving these goals will require action and commitment from all involved stakeholders, including coordination and engagement across all levels of government, encouragement of action from Canadian businesses, engagement by academia, and the involvement of all Canadians.

This is how Canada will become one of the most innovative countries in the world. The Government has launched a new online, interactive results portal for reporting and tracking progress achieved on targets identified through the Innovation and Skills Plan. The targets are important from the perspective of providing guidance and direction, and allowing Canadian governments and citizens to measure and evaluate progress — making course corrections if and when necessary.

Announced in Budget , the Innovation and Skills Plan advances a suite of targeted initiatives and programs to tackle the strategic challenges of the time. The Plan is based on four interconnected and mutually reinforcing pillars that support innovation along the innovation continuum. People and Skills: People are the pipeline for innovation, as their ingenuity and imagination bring new innovations to life; they fuel businesses with the human power needed to grow and be competitive.

Building Ecosystems: Science, Technology, and Superclusters: Innovation ecosystems that bring together businesses, academics, and other innovation actors are essential to creating a culture of innovation and driving improvements in research and technology performance. Canada must leverage areas of strength to become one of the most innovative countries in the world. Science underpins the innovation system, leading to new discoveries that can be commercialized and boost the competitiveness of Canadian firms.

Without renewed investments in science, Canada will be unable to support the innovation continuum. Investment, Scale-up, and Growing Companies: To win the innovation race, Canada must produce more export-oriented, globally competitive large firms.

These firms drive economic growth, create good jobs for Canadians, and maintain Canadians' high quality of life. Program Simplification and Reorganization: Firms need effective and efficient support to grow and help Canada become a nation of innovators. Government support programs must be accessible and easy to understand, and target firms at all stages along the innovation continuum. Figure 6 maps the four pillars of the Plan onto the innovation continuum.

It highlights the main challenges that drove the development of the Innovation and Skills Plan, along with the targeted programs and initiatives aimed at addressing these challenges and, collectively, building a culture of innovation in Canada. The next four sections focus on each of the Plan's pillars in turn. The Innovation and Skills Plan is supporting Canadians at every stage of their lives, ensuring that firms have the talent they need to grow.

The Plan's interconnected suite of programs includes support for hands-on learning to inspire youth to pursue careers in coding and STEM. It offers young Canadians more work-integrated-learning placements so that they can learn the soft and technical skills they need to get their first jobs.

The Plan also offers new support to encourage lifelong learning and skills development at all stages of Canadians' careers, providing targeted support to increase the labour force participation rate for women and other underrepresented groups. It also establishes faster processing times for the entry of highly skilled workers into Canada to benefit businesses that require access to a deep and wide pool of talent to grow and compete.

The world is in a time of unprecedented transformation, moving at a pace and scale that has never been experienced before. In the face of changing business models, Canadians must be equipped with the right competencies and provided the flexibility to meet the evolving demands of the workplace.

To grow and scale-up, firms must be able to fill skills gaps, by gaining better access to global talent and recruiting from a broader, deeper pool of Canadians with strong STEM, business, creative, and digital skills. All Canadians, including youth, women, Indigenous people, and other underrepresented groups, must continually train and upskill, and have more opportunities to develop key skills. They must also be connected to high-speed internet to participate in the digital economy.

It goes way beyond the basics of telling a computer what to do. It is about creative thinking, problem solving, and collaboration. Students who are proficient coders will have a better understanding how our world works now and have a say in their future. All levels of government have a role to play in creating the workforce for the future. Through a horizontal approach, the Government can more effectively support Canadians throughout their lifetime and across society.

The federal government has a critical role to play in helping equip Canadians with the skills and experiences they need, but it cannot act alone. Partnerships — with other levels of government, the private sector, educational institutions, and third-party education delivery agents and foundations — are required to create a more resilient workforce that responds to what businesses need to scale-up and grow.

Strengthening the digital skills and literacy of Canadians, and providing them with the tools they need, is key to maximizing economic and social benefits for all in a digital and data-driven world. That is why the Innovation and Skills Plan includes programs such as CanCode to prepare youth for jobs for the future. Learning to code at a young age can help develop analytical thinking and foster problem-solving techniques important in in-demand STEM fields.

It prepares youth for opportunities in the workplace of the future, and creates a high-quality talent pool for Canadian businesses. Although 7 in 10 young Canadians express an interest in careers related to coding or programming, only one-third say they actually have opportunities to learn coding Actua, It gives young Canadians the freedom to create, and not just consume. They are creating things that they feel are their own and not something that someone else has created for them.

In general, we are creating a culture of creators, not consumers. They are developing their problem solving skills, not just for programming, but for other aspects of their lives. Breaking a problem down through code opens the possibility of applying this learning strategy to all subject areas. Learning to code is effective when it transforms into coding to learn! CanCode works through 21 national, regional, and local not-for-profit organizations to support school-age opportunities for coding and digital skills development.

It targets underrepresented groups, such as girls and Indigenous youth. CanCode supports partner organizations in providing K students and their teachers with training to introduce digital skills, coding, and related concepts into the classroom.

CanCode has provided coding training to 1 million students, of which more than 40 percent are girls, 8. Over 53, teachers have participated so far in CanCode initiatives. Not only has the program surpassed its target of reaching , by March , but it has already doubled its target, providing students with the digital skills needed to succeed in today's economy. Achievements: Reached 1 million students and 53, teachers, doubling its initial target of , students by March As the impact of technology continues to grow, the ability of individuals to participate meaningfully in all spheres of life will depend more heavily on the foundations of STEM learning and associated competencies, including an understanding of scientific methods, numeracy, digital literacy, and problem-solving Let's Talk Science, The Innovation and Skills Plan features a number of initiatives through the granting councils to support STEM skills for Canadians throughout their lifetimes:.

In addition, the Prime Minister's Awards for Teaching Excellence now include 17 new STEM-themed awards and a Gold Medal to recognize scientific excellence to honour outstanding elementary and secondary school teachers. Work-integrated learning combines classroom and hands-on workplace learning, benefiting young Canadians, employers and post-secondary institutions.

Workplace experiences and mentoring help young Canadians develop the technical, analytical, and soft skills needed to compete for high-quality jobs and to contribute to the creation of breakthrough technologies and high-growth firms. Employers gain access to qualified employees, assess work-ready hires, and help sensitize post-secondary institutions to the labour force needs of firms.

Post-secondary institutions increase recruitment potential, stimulate innovation through commercially relevant projects, and gain stronger insights into industry skills requirements. Mitacs Research Internships provide support for work-integrated learning experiences.

Mitacs, a national, not-for-profit organization, has designed and delivered research and training programs in Canada and abroad for 18 years. Through increased funding, Mitacs aims to provide 10, placements annually by Provinces have provided supplementary funding to Mitacs to create thousands of additional Mitacs internships.

The Roundtable harnesses the strengths of some of Canada's top businesses, universities, and colleges to deepen collaboration and improve opportunities for young Canadians. This includes releasing guides on how businesses can best leverage relationships with colleges and universities. Women in First Nations communities, particularly those that are remote, often do not access regular cervical cancer screening.

HerSwab makes self-testing for cervical cancer comfortable and convenient, enabling participation of First Nations women regardless of their location. Other initiatives that help young Canadians find jobs and start businesses include the following:. Canadians are increasingly changing their careers multiple times throughout their lifetimes. To support these transitions and equip Canadians with the industry-demanded skills for the jobs of the future, a number of initiatives support lifelong learning and upskilling.

The Future Skills initiative brings together expertise from all sectors and leverages experience from partners across the country to identify the skills sought and required by employers, explore new and innovative approaches to skills development, and share information to inform future investments and programming. It includes a Future Skills Council , representing the private, labour, education and training, academic, and not-for-profit sectors, to advise on emerging skills and workforce trends.

The Future Skills Centre focuses on developing and testing new approaches to skills assessment and development. The Government is helping provincial and territorial governments prepare their residents for the future of work. For example, federal investment in Labour Market Development Agreements and new Workforce Development Agreements has significantly increased. This investment provides employment assistance, skills training, and the flexibility to respond to the diverse needs of residents.

The amended Employment Insurance Act broadens eligibility for skills training and employment supports under the Labour Market Development Agreements, a change that came into effect in April The Skills Boost initiative provides additional measures to increase student access to financial assistance by:.

A horizontal review of skills programs is also underway across the federal government to maximize effectiveness. Indigenous people have historically faced many barriers to success, including a lack of opportunity to access skills programs focused on their unique circumstances. In contrast, only 4 out of 10 First Nation young adults living on-reserve graduate from high school Anderson and Richards, The internet is integrated into virtually all facets of life with more applications, devices, and users included every day.

Without internet access, Canadians cannot fully participate in the economy. The internet allows Canadians to connect with family and friends across the country, access global markets, and use a wide range of government supports and services, including those offered by the Innovation and Skills Plan.

The Connect to Innovate program aims to provide rural and remote regions across Canada with high-speed, broadband internet access. The program invests in rural and remote communities by providing the backbone infrastructure needed for Canadians to fully participate in, and benefit from, the digital economy.

Working in partnership with provincial, territorial, and municipal governments, Indigenous communities, and private-sector partners, connected communities will be able to overcome capacity bottlenecks and enable future growth to faster speeds. Investment in quality broadband networks will help extend access to innovative services that improve education, healthcare, productivity, and local quality of life.

Moving forward, the Government will continue to address digital divides from coast to coast to coast, striving to connect all Canadians. Achievements: Announced projects to date, connecting more than rural and remote communities in Canada, of which are Indigenous communities; will improve Internet connections across 19, km of Canada's most rugged, remote and challenging terrain, in every province and territory.

The project will bring new or improved high-speed internet access to all of Nunavik's 14 Inuit communities and to 28 institutions. It is the first ultra-fast fibre optic connection between Nunavik and southern Canada. The Government is ensuring Canada has world-class telecommunications infrastructure and promoting innovation by making spectrum available to support the development of new wireless technologies, such as 5G. The Spectrum Outlook supports investment by providing stakeholders with a transparent and predictable roadmap of the Government's approach to making appropriate spectrum resources available to meet demand.

Other programs aimed at improving access to digital skills and technologies include the following:. The Global Skills Strategy gives Canadian companies a faster and more predictable route to bring top talent and new skills from around the world to Canada. We are now able to quickly bring top talent to our studio, which allows our studio to remain a key player in our industry.

In addition, the customer service experience through the Dedicated Service Channel is impeccable. Our account manager always goes above and beyond to provide us with the right information on a program or the status of a file. Challenge: Companies accessing in-demand talent from around the world quickly and predictably. Description: Provides a faster and more predictable route to bring top talent from around the world to Canada. Other global research talent attraction initiatives such as the Canada Research Chairs program complement the Global Skills Strategy.

Of the 25 chairs, 15 are women and 10 are Canadian expatriates returning to Canada to carry out ambitious research programs. Current chairs include:. Canada has been at the forefront of the AI revolution due to sustained investments it has made since the s — attracting the world's best minds in AI. Since then, it has developed top-ranked educational institutions, world-class researchers, and market-leading technology companies.

Today, a new generation of women researchers and entrepreneurs are also making important contributions. The Pan-Canadian Artificial Intelligence Strategy aims to provide the talent, support, and resources required to maintain Canada's leadership position. As President of the G7, Canada has advocated for a shared approach to AI that is market-driven, inclusive, human-centric, rights-respecting, and multi-stakeholder — as demonstrated by the G7 Innovation Ministers' Statement on AI and the Charlevoix Commitment to a Common Vision for the Future of Artificial Intelligence.

Bringing together over of the greatest thinkers on AI from both the public and private sectors from across the G7, the G7 Multi-stakeholder Conference on AI in December discussed how to enable the responsible adoption of AI, with a particular focus on fostering inclusion in AI development and deployment, reducing barriers to innovation and enhancing market confidence, fostering accountability in AI and promoting societal trust, and the future of work and skills for the modern economy — all with a view to building a common vision of human-centric AI.

The IPAI will foster international collaboration to advance a shared understanding of AI issues and to support and guide the responsible adoption of AI that is human-centric and grounded in human rights, inclusion, diversity, innovation, and economic growth. Over the course of , Canada and France will invite international, like-minded partners to join them in shaping the IPAI into a global reference point for AI.

Pineau's research focuses on developing and applying new models and algorithms to complex problems in robotics, health care, and other fields. Precup is a world-renowned expert in the field of reinforcement learning, a type of machine learning inspired by behavioural psychology. Prior to joining Borealis AI, Dr. Agrafioti founded and served as Chief Technology Officer at Nymi, a biometrics security company and maker of the Nymi wristband. She is the inventor of HeartID, the first biometric technology to authenticate users based on their unique cardiac rhythms.

The Government of Canada is working with partners across the country to equip Canadians with skills for the future, such as through the CanCode program, which fills gaps in access to coding and digital skills. Thousands of Mitacs Research Internship placements are opening up on-the-job learning opportunities for young people.

The Plan is strengthening lifelong learning, including through new experimental approaches. Canadian businesses now have quick and predictable access to global talent. Internet connectivity, the fundamental digital infrastructure of the time, is reaching more than rural and remote communities, including Indigenous communities.

Despite progress in equipping Canadians for the future of work, more support is needed to build on existing measures. For example, in October , federal, provincial, and territorial ministers of innovation and economic development agreed to work towards universal access to high-speed internet and improve access to the latest mobile wireless services along major roads and wherever Canadians live and work.

A Future Skills Council, representing the private, labour, education and training, academic, and not-for-profit sectors, will provide advice on emerging skills and workforce trends, while a new Future Skills Centre will explore new approaches to skills development. To succeed in becoming one of the most innovative countries in the world, Canada needs to strengthen the bridges from science to commercialization, and to investment and scale-up.

The Innovation and Skills Plan creates innovation superclusters that will build new ecosystems and drive Canadian competiveness. They represent a transformational approach to government support for innovation. The Plan's ecosystem approach is bolstered by the Government's recent historic investment in fundamental science, which will bring about world-first discoveries and feed the innovation pipeline. Canada needs to build innovation ecosystems in which industry, academia, and other innovation actors collaborate on developing talent pools, conducting research, commercializing ideas, attracting investment, strengthening supply chains, and growing export-oriented firms.

The nation must now build on and strategically support emerging strengths in potential high-growth areas, such as digital technologies, protein industries, advanced manufacturing, AI, and oceans. The unique barriers facing early-career and women researchers in pursuing careers in science must be actively removed and efforts must be made to address the aging science infrastructure that has prevented researchers from being the best in the world. Existing research strengths have not translated into sufficient applied research, technology, or innovation outcomes.

Science and research help drive innovation and sustainable economic growth. The Innovation and Skills Plan is re-energizing science in Canada. Appointed in June and chaired by Dr. David Naylor, the Panel examined how to make more strategic and effective federal investments in science and research conducted in higher education institutions.

The conclusion was that, although Canada has a strong foundation in research and science, critical gaps require immediate attention. These include the provision of adequate support for researchers and greater harmonization and coordination of government support for science. The Panel also noted the opportunity to achieve better equity and diversity outcomes, with more effective support for early-career researchers and empowering of Indigenous people to conduct research and partner with the broader scientific community Canada, The Innovation and Skills Plan reflects a concerted effort to respond to the Panel's recommendations through demonstrating support for science, researchers, the tools and equipment that researchers need, and independent science advice.

Highly skilled and world-class researchers perform the high-risk, blue-sky research that often underpins the largest payoff discoveries and innovations. This funding includes the New Frontiers in Research Fund for investigator-led research and interdisciplinary, international, risky, and fast-breaking research. A new Canada Research Coordinating Committee CRCC is coordinating the programs and policies of the granting councils and the Canada Foundation for Innovation, ensuring that Canada's researchers have the support they need to succeed.

Through the CRCC, the granting councils are developing new diversity strategies to create greater equity, diversity, and inclusion among funding recipients. The directive is to support transformative, new areas of research, and to better align all research funding. These strategies will influence the distribution of new funding for Canada Research Chairs. The CRCC is also developing new ways to support the science ecosystem, exploring how to support early-career researchers, promote interdisciplinary research, and secure more international partnerships.

In Summer , the CRCC sought the views of Canada's research community in developing the new strategies and modernizing the research system. The first step is a pilot program relating to early-career researchers. Complementing the important work of the granting councils, a number of world-leading, third-party research organizations, supported by the Government, help Canada maintain its leadership role in fundamental research. These include:.

Institute for Quantum Computing — harnesses the quantum laws of nature to develop powerful new technologies and drive future economies;. Perimeter Institute for Theoretical Physics — conducts scientific research, training, and educational outreach in foundational theoretical physics; and. Centre for Drug Research and Development — powers Canada's life sciences industry by training scientific and business talent, and creating and growing companies of scale.

Budget announced that the Government will consider a new approach to determine how to allocate federal funding to third-party research organizations, as advocated by Canada's Fundamental Science Review, to improve the adaptability and effectiveness of federal research funding for these organizations. This funding helps cover overhead costs such as those related to the maintenance of laboratories and other research spaces that are shared widely. World-class research requires researchers across scientific disciplines to rapidly process, exchange, share, and visualize vast amounts of data in novel ways.

The Council of Canadian Academies , a not-for-profit research organization that provides independent scientific assessments to inform policy development in priority areas, is receiving continued support. Mona Nemer, is focused on making federal science fully available to the public, encouraging scientists to speak freely about their work, and ensuring that policy decisions consider scientific analyses.

Armed with a new vision, mission, and set of values, the NRC is mobilizing its specialized expertise and facilities to form a collaborative platform to convene the people and ideas that will deliver breakthroughs and solutions in areas that matter to Canadians. For example, the NRC is deepening engagement with Canadian companies to give them access to the right technical expertise and infrastructure at each stage of their growth path.

This includes building on the NRC's scientific expertise, and fostering strong collaboration with innovators in both industry and academia. The NRC is bringing together the best minds available to advance knowledge, fundamental science, and technology development that contribute to Canadian research excellence.

For example, it is issuing grand challenges to teams of academic, business, and government researchers to turn bold ideas into game-changing applications that address Canada's most pressing economic and societal problems, and are aligned with government priorities, such as the superclusters. In the near term, these teams are focused on developing:. To further increase its capacity to deliver leading exploratory and applied research, the NRC is building collaboration centres with university and research hospital partners, such as the Centre Hospitalier Universitaire Sainte-Justine focus on pediatric cancer , University of Toronto microfluidics , Memorial University of Newfoundland oceans technologies , and University of New Brunswick cyber security.

This innovative method allows the detection of very low concentrations of foreign particles in powders using x-ray micro-computed tomography and 3D image analysis. Using this method, each individual foreign particle is visualized; size, brightness, and overall concentration are measured. In situations where cross-contamination is a concern, the technique is more sensitive and discriminating than current chemical analysis.

The new method was validated with titanium powders destined for production of aerospace parts, in collaboration with industrial partners. The teams are expanding their capabilities to other materials and metals, such as nickel alloys. The method could be used to qualify recycled powders in applications where safety is important. The licensing, production and clinical trials of this vaccine will bring us closer to eradicating this bacterial infection that can lead to meningitis and other lethal conditions, especially among infants in Northern communities.

IP helps researchers achieve commercial success by protecting their ideas and ensuring that they reap the full rewards of their inventions and creations. SMEs that hold formal IP are four times more likely to export and 64 percent more likely to be high-growth firms.

Businesses using IP in patent-intensive industries have about 8 to 10 times more revenues than those not using IP Statistics Canada, IP-intensive businesses pay 16 percent higher wages, on average, than businesses with little or no IP. SMEs that hold formal IP are three times more likely to engage in product innovation than those without IP and two times more likely to engage in other types of innovation.

Canadian innovators welcome the creation of an 'IP Collective' as a new tool in Canada's 21st century digital policy toolkit. Its three-pronged approach focuses on IP awareness, education, and advice; strategic IP tools for growth; and IP legislation. First, understanding the valuable role IP can play in supporting business growth is an essential preliminary step.

A series of new initiatives target increasing IP awareness, particularly among women, Indigenous entrepreneurs, and other groups who have been less likely to use IP. These include supporting the participation of Indigenous people in international and national discussions on IP, research activities and capacity building. The IP Strategy also supports training for federal employees who deal with IP in innovation programs and the development of IP expertise and advice for Canada's innovation community e.

For example, the creation of a new IP marketplace, a one-stop, online listing of public sector-owned IP available for licensing or sale, aims to reduce transaction costs for businesses and researchers, and improve entrepreneurs' access to public sector-owned IP.

In addition, a Patent Collective pilot program will work with entrepreneurs to promote IP best practices and awareness, provide IP intelligence and support, and facilitate access to IP. To support a well-functioning IP regime that provides greater clarity and reduces abusive practices, the Government will continue to update and modernize Canada's IP legislative framework. Already, in it enacted a series of changes to prevent misuses and improve the efficiency of the IP regime.

Work on these reforms will continue, notably through the establishment of minimum requirements for patent demand letters , adoption of new deadlines for decisions at the Copyright Board of Canada, and the establishment of a new College of Patent and Trademark Agents. The story of Haida fashion designer Dorothy Grant is one of inspiration and determination.

From weaving spruce root hats with her grandmother in , to opening a store in downtown Vancouver in , and receiving the Order of Canada in , Dorothy Grant has followed her dreams, spreading the Haida culture internationally. According to the designer:. I knew 30 years ago that my hands logo reflected the core philosophy of my fashion design. At first, I was using it as a garment label. Then, I registered it as a trademark that would always represent my name, which I had spent years branding.

I fought for six years against a company that claimed my trademark was too similar to theirs: a battle I won, and which was worth fighting. The world of fashion is full of mimes that will copy without asking. That's when it's useful to have a registered trademark to prove you're the owner.

People are less likely to copy it. Dorothy's work, which innovatively combines Haida formline art with haute couture, has been featured in 15 museums in Canada, the U. It has been worn in fashion shows and on Oscars red carpets, and has earned her an impressive number of awards in a career spanning over four decades. The Government is bridging the gaps from science to commercialization, to investment and scale-up through the Innovation Superclusters Initiative. By creating new innovation ecosystems, superclusters support every pillar of the Innovation and Skills Plan — advancing skills development, fundamental and applied research, commercialization, investment, growth, and exporting.

Fostering partnerships between academics, post-secondary institutions, investors, innovation intermediaries, and businesses creates new opportunities and growth across the innovation continuum and the economy.

Stronger partnerships between businesses and post-secondary education institutions help equip graduates with the necessary skills for in-demand jobs and provide firms with the talent they need to be successful. These partnerships facilitate technology transfer and the application of new ideas in the marketplace.

Building the right kind of partnerships across supply chains can lead to new efficiencies and mutual economic benefits for both large and small firms. A vibrant innovation ecosystem supports clusters of high-growth companies sharing best practices and establishing demand for goods and services that are more technologically sophisticated. Strong partnerships between business, academia, and other innovation ecosystem stakeholders, such as venture capitalists, have allowed globally renowned clusters to thrive, such as those found in Silicon Valley, Boston, Tel Aviv, London, Berlin, Shanghai, and Bengaluru Startup Genome, These clusters are able to drive growth across an entire country.

For instance, Silicon Valley and the U. GDP Khanna, The Innovation and Skills Plan takes a new approach to strengthening Canada's most promising clusters and accelerating economic growth in highly innovative advanced industries through the Innovation Superclusters Initiative.

Superclusters are innovation hotbeds that bridge science and investment, energize economies, drive growth, and create thousands of middle-class jobs. With close geographic connections and a high degree of connection within their local innovation ecosystems, superclusters bring together businesses of all sizes, academics, post-secondary and other research institutes, sources of finance, and other innovation assets.

The Superclusters Initiative aims to accelerate the growth and development of large-scale business-led innovation superclusters, translating the strengths of Canada's innovation ecosystems into new commercial and global opportunities for growth and competitiveness. However, Canada has not seen a sufficient number or scale of such initiatives, and the density of connections between companies, research institutions, and other innovation assets is lower than that found in other world-leading centres.

Selecting the superclusters was a competitive two-phase application process focused on how applicants could deliver the strongest value and best position Canada for global leadership. The first phase attracted more than 50 letters of intent, which represented more than 1, businesses and other participants from all regions of Canada.

Government officials, third-party contractors, and expert reviewers conducted a rigorous assessment, and nine applications were invited to advance to the second phase and submit detailed proposals. The value of the process itself is demonstrated by the number of new partnerships announced by applicants as a direct result of their participation in proposals.

The five superclusters chosen to receive funding encompass more than businesses, 60 post-secondary institutions, and other participants. They represent a new way of doing business — one where the Government provides targeted and direct investments through a selection process to build long-term advantage, develop global brand recognition, draw investment, attract talent, and create new opportunities for Canadians.

We are already seeing companies coming together to work on truly transformative technology projects and develop new programs for digital skills in manufacturing — initiatives that have taken off just by introducing businesses to one another. Based in Atlantic Canada, the Ocean Supercluster will harness emerging technologies to strengthen Canada's ocean industries — industries such as marine renewable energy, fisheries, aquaculture, oil and gas, defence, shipbuilding, and transportation.

This supercluster will ensure Canada's future prosperity as a source of jobs and solutions to global challenges, such as how to meet the energy demands of the 21st century. AI will bring the retail, manufacturing, transportation, infrastructure, and information and communications technology sectors together to build intelligent supply chains through AI and robotics. This supercluster will help Canadian SMEs scale-up and make Canada a globally competitive export leader. Based in Ontario, the Advanced Manufacturing Supercluster will build up next-generation manufacturing capabilities, incorporating technologies such as advanced robotics and 3D printing.

By focusing on training and technology adoption, this supercluster will help make the words "Made in Canada" synonymous with "innovative" and "value added". Based in the Prairies, the Protein Industries Supercluster will use plant genomics and novel processing technology to increase the value of key Canadian crops coveted in high-growth foreign markets for plant-based meat alternatives and new food products.

Building on Canada's worldwide reputation as a leader in agricultural production, this supercluster will make Canada a leading source for plant proteins and, ultimately, feed the world. Based in British Columbia, the Digital Technology Supercluster will use bigger, better datasets and cutting-edge applications of augmented reality, cloud computing, and machine learning to improve service delivery in the natural resources, precision health, and manufacturing sectors.

Employing digital technologies will save time and money and improve the health and lives of Canadians. Digital Twinning uses physical data on how the components of an object operate and respond to the environment, as well as data provided by sensors in the physical world. Gartner forecasts that, with an estimated 21 billion connected sensors and endpoints by , digital twins will exist for billions of things in the near future.

The May meeting highlighted the use of the technology for existing processes and systems in Industry 4. The Innovation and Skills Plan is bridging science and technology to support commercialization and attracting investment. It recognizes that fundamental science underpins innovation through world-first discoveries upon which new ideas are built.

New funding is supporting a diverse research community, accompanied by investments in research infrastructure that will strengthen Canada's competitive advantages in advanced computing, AI, and big data analytics. Partnerships and collaboration infuse the Innovation and Skills Plan's approach to research, technology, and ecosystem development.

The NRC is developing a collaborative platform to convene the people and ideas that will deliver new technological breakthroughs and solutions in areas that matter to Canadians. The five industry-led superclusters are building innovation ecosystems across the country by bringing together businesses of all sizes, academics, post-secondary and other research institutes, sources of finance, and other innovation assets.

They are reinforcing every aspect of the Innovation and Skills Plan — supporting skills development, fundamental and applied research, commercialization, investment, growth, and exporting. Over the coming years, the superclusters will build long-term competitive advantage, develop global brand recognition, draw investment, develop business capacity in the development and use of IP, attract talent, and create new opportunities and jobs for Canadians.

The Innovation and Skills Plan is helping Canadian businesses, including those owned by women and Indigenous people, to start-up, scale-up, and become globally competitive. Grand challenges and the Government's buying power are supporting SMEs and the development of new innovations. Through four flagship programs, the Plan offers support for firms of all sizes to grow and export to markets around the world. It has a focus on direct support, increasing access to late-stage capital for innovative firms in every sector.

The Plan emphasizes clean growth by offering advisory support and funding for clean technology firms. It is also making Canada a leading destination for global companies by working to attract more foreign direct investment. Despite Canada's strong record in starting businesses, relatively few companies scale-up into global competitive companies, exporting and operating at the cutting edge of innovation.

Other key challenges involve helping researchers who struggle to commercialize their discoveries, and entrepreneurs, particularly women and Indigenous people, to attract investment and grow their businesses. Firms must be able to take full advantage of adopting productivity-enhancing technologies e. Certain sectors struggle to find a sufficient supply of patient capital — particularly clean technology firms.

Canada needs a clear path to growing more companies by focusing on capital markets, participating in emerging markets, and providing incentives for the expansion of Canadian companies and their long-term presence in Canada to create jobs for the middle class. Innovative Solutions Canada targets its new approach to government procurement at innovators and entrepreneurs. Modelled on the successful U. Small Business Innovation Research SBIR program, it positions the federal government as a first customer, issuing specific challenges and looking for proposed solutions.

The program supports the development of early-stage, pre-commercial innovations. The challenges are designed around solutions and desired outcomes, rather than known products or process specifications. Achievements: 42 challenges launched by 14 different federal departments; 28 challenges have closed for assessment, receiving applications.

As of December , 14 different federal departments and agencies had launched 42 challenges. Of these, 28 challenges are closed to new applications, having received applications. Future challenges include examining new ways to make roadways safer, to create energy from unlikely sources, and to make materials that Canadians use and interact with on a daily basis more environmentally sustainable. Many times, their 'first customer' serves as critical validation that allows these companies to penetrate their markets locally and globally.

The Innovative Solutions Canada program… will help Canadian companies gain early customer traction while also allowing Canadians to benefit from the adoption of homegrown innovative solutions. To develop novel solutions that incorporate Frequency Selected Engineered Surfaces FSES technology into connected vehicle designs as a means to move towards wireless connectivity within vehicles, and as a tool to manage interference emanating from vehicles into other vehicles, and into the overall urban environment.

To apply AI and big data analytics to bring tangible advancements in the operation and use of space assets in support of government operations, public safety, public health, and discovery. To develop new solutions to enable the testing of metal powder bed density in additive manufacturing processes. To develop the capability to detect and defeat non-cooperative objects by means of compact, efficient, and robust laser sources.

Note: The application deadlines for challenges vary. Under the Impact Canada Initiative, federal departments also issue challenges to solicit new ideas and proposals from all Canadians and communities. Prizes are awarded to whomever can first or most effectively find a solution to thematic problems.

Impact Canada has two initial streams:. A clean technology program delivered by Natural Resources Canada: to drive new solutions in areas such as climate change, green growth, and applying new technologies to reduce negative environmental impacts. A series of challenges will soon be posted on this platform.

The Innovation and Skills Plan features four flagship programs that are working together to ensure a streamlined delivery of programs to companies as they move along the innovation continuum:. The relationship of these programs is discussed further in the Program Simplification and Reorganization section. Many high-potential Canadian firms at an early stage in their scale-up journey are looking for business innovation support tailored to their specific circumstances and needs.

The program supports high-potential firms in bringing their products and services to the global marketplace. Is your city a "smart" city? While flying cars are not here yet, we are well on our way towards creating the green infrastructure, intelligent transportation, and other data-driven technologies that will make our urban areas healthier and more sustainable.

The tech company's plug-and-play computer module fits into a vehicle and can seamlessly monitor and analyze engine performance, route efficiency, and driver behaviour. Combining AI, GPS, and cloud computing, this technology enables clients to "follow" their fleet anywhere and obtain real-time data for business and environmental optimization.

To succeed in creating a culture of innovation, Canada requires a strong foundation for sustained and inclusive regional economic growth. The REGI program has two new streams:. Building on elements of the Innovation and Skills Plan, the regional growth strategies play to the strengths of the RDAs as conveners in regional innovation ecosystems.

The regional growth strategies — three of which have been announced to date — take a collaborative economic development approach to support innovation and entrepreneurial drive through concrete actions aligned with shared priorities within each region. In addition to the regional growth strategies, the RDAs are a mechanism for delivering tailored support to women- and Indigenous-owned firms, as well as clean technology companies.

Chief Executive Officer Mitch Carlson and Chief Technology Officer Brad Martin spent almost 20 years working in high-pressure snubbing operations where drill pipe, production tubing, and specialized down-hole equipment are inserted into gas wells under pressure. Their first-hand knowledge and experience of the stress and dangers in live well intervention inspired them to develop a new tool that would reduce well-control incidents and make operations more efficient.

IWS received a repayable contribution through Western Economic Diversification's Western Innovation Initiative to commercialize and scale-up the manufacturing of a wellhead component that allows pressure control operators to see inside the blowout preventer stack in real-time. The inVision technology increases efficiencies, reduces the carbon footprint of oil and gas operations, and makes daily tasks substantially safer. Description: Through a simplified suite of programs, and new regional growth strategies, the RDAs are supporting regional clusters, disruptive technologies and their adoption including clean technologies , inclusive growth, and the scaling-up of Canadian firms.

Prior to the Innovation and Skills Plan, more than two-thirds of direct support for late-stage firms was delivered through ISED programs and exclusively targeted the aerospace, defence, and automotive sectors. SIF consolidated these previous sector-specific funds, taking a new approach to spurring innovation through supporting all sectors and strengthening supply chains. SIF aims to:. For high-growth firms finding it difficult to secure financing for expansion and growth, SIF offers support for expansion or material improvement of existing industrial or technological facilities.

SIF is also a flexible mechanism to support and attract sizeable new green field projects and foreign direct investment to Canada. SIF's support for larger projects means significant job creation through the growth and expansion of firms at later stages in their scale-up journey, and the attraction of investments of sufficient size and quality to make a real difference for the performance of Canadian companies and their suppliers.

Canada's next generation of pilots, engineers, doctors, and nurses will have access to some of the most advanced simulation tools and training in the world. The digital world is at an inflection point with the number of connected devices expected to grow to 50 billion by The next generation of wireless communications systems, called 5G to denote that it is the fifth generation of development, will become the most critical building block of Canada's digital society.

In March , the Government announced the first public-private partnership aimed at increasing economic growth driven by 5G technology — a key investment in making the digital economy a reality. Spearheaded by five world-class digital technology companies — Ericsson, Ciena, Thales,.

This project will provide access to 5G networks for SMEs, researchers, and academia; it will not only unlock the technological promise of 5G in the near term, but will also drive long-term economic growth in Quebec, Ontario, and the broader Canadian innovation system. Figure illustrating a circle in a ring of six circles. Breaking into new markets presents a number of challenges for Canadian firms, such as understanding the local environment and finding customers.

Companies with ratings are not formally covered by a Morningstar analyst, but are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative moat, fair value, and uncertainty rating. Click here for more on how to use these ratings.

Lucid Group Inc is a technology and automotive company. It develops the next generation of electric vehicle EV technologies. It is a vertically integrated company that designs, engineers, and builds electric vehicles, EV powertrains, and battery systems in-house using our own equipment and factory.

Summary Competitors. Valuation Jun 17, Currency in USD. Is it the right time to buy or sell? Find out with Morningstar Investor. Sector Consumer Cyclical. Industry Auto Manufacturers. Most Recent Earnings Mar 31, Fiscal Year End Dec 31, Stock Type Distressed.

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