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Friday, May 1, 2009

Report: Canada Lagging Behind In Innovation

A report released Wednesday suggests that Canada is lagging behind the rest of the world when it comes to business innovation. Robert Brown, the chair of a panel assembled by the Council of Canadian Academies, and an author of the report said "Too few Canadian businesses and entrepreneurs choose strategies that emphasize innovation,"

When compared to other countries, the report found that Canadian businesses are relying on outdated business models, are slow to incorporate new technology, follow the lead of other countries and don't get the same payoff from research spending. Innovation is defined by the report as "... new or better ways of doing valued things. An 'invention' is not an innovation until it has been implemented to a meaningful extent,"

Source: CBC