Canadian innovators - the time is NOW for you to provide input on a proposal that will have dramatic effect on your ability to continue to do business here in Canada.
In case you missed it, ISED has opened consultation to inform a proposal to legislate minimum spending targets for innovation and research and development by Canadian SMEs. Think about that for a minute - you can have your say on enshrining minimum expenditures for the Canadian innovation! No more risk of your innovation being scrapped after pre-qualifying!
Currently, the ISC program has a budget of $113.8M. However, the recent federal budget will reduce this to a mere $40M in 2025/26. That means the program that has been so vital for the development of Canadian intellectual property and innovation will be gutted to a shadow of what it is now.
Here is your chance to provide input and drive change. If Public Service and Procurement Canada has an annual expenditure of $25B, then the current ISC program represents a spending target of only 0.45%! Compare that to an already legislated minimum 5% procurement target for Indigenous businesses.
Some ideas to consider when you fill out the survey:
1. What if enough Canadians recommended a 3-5% legislated target range to support Canadian innovation and research and development? That would result in an annual budget of $750M to $1.25B. Think of how epic that could be for you, Canada, our economy, and our youth!
2. What if these spending targets were legislated for all government departments? No longer opt-in or optional. Now true innovation could reach all sectors of the government, not just the few casually interested departments.
3. Canadian innovators, do what you do best - think creatively! What other solutions would help support your company? Speak up!
Consultation ends July 26, 2024, but take 5 mins and do it now!
Web poll is here: https://lnkd.in/gAwZNse5
Background information is here: https://lnkd.in/gvbZGN_t
Don't wait - have your say. Perhaps together we can drive some much-needed change to support innovation and research and development by Canadian SMEs!
Dr.-Ing. Armin Strobel, Alexandre Archambault, Taylor McCubbin, CD, Josh Ogden, Nima Ziraknejad, Ph.D., P.Eng., Dr. Reza Tavakoli, PEng, Juliano Franz, Michael Poma, Michael H. Cohen, Michael Evink, Matt VanAndel, Chris Healy, David Berg, Rahul Goel, Albert Behr, Albert Mansour P.Eng., MBA, PMP, Jimmy Pelk, Philip Reece, Jeremy James, Celina Radoi, PMP, Brendan MacDonald, Jeremy C. H. Wang, Nikita Iliushkin, Maksym Korol, Matt McRoberts, Fabian Wolk, Steve Magirias, Chris Hood, Sean Adams, F-RCGS, Lizeanne St Pierre, MESc, PEng, PMP, Laura Finlay, Brooke Jones, Stephanie Ochej, Mark D. Robbins, Jonathan Clarke, Declan S., Ted Strazimiri, Courtland Penk
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