Canada faces many challenges when competing globally in innovation. These include the limited presence of the Canadian private sector in venture financing and our ability to develop clusters, incubators, accelerators and hubs that are more commercially sustainable and diversified.
But at the business startup level, Canada has strengthened ecosystems in recent years. And it has the potential to establish important global hubs, thanks to myriad entrepreneurial programs in our public sector and our abundance of natural resources. The latter allows for the processing and finishing of materials to fulfil demand for innovation and commercial opportunities.
Read this insightful EDC Economics report on Canada’s position relative to other countries’ innovation and ecosystem performance.