Ministers Welcome Council of Canadian Academies Report on Business Innovation in Canada

OTTAWA, ONTARIO, Apr 29 (MARKET WIRE) --
The Honourable Tony Clement, Minister of Industry, and the Honourable
Gary Goodyear, Minister of State (Science and Technology), today welcomed
the release of the Council of Canadian Academies report on the
performance of Canadian businesses as it relates to innovation.

The report, entitled Innovation and Business Strategy: Why Canada Falls
Short, examines why investment in innovation by Canadian businesses lags
behind that in many countries of the Organisation for Economic
Co-operation and Development. The report studied the factors that
influence business investment in innovation and the relationship between
innovation and productivity growth.

"This report will help governments and the science and technology
community better understand Canadian business investment and innovation
and will help identify areas for improvement," said Minister Clement.
"Our government has enhanced Canada's competitive advantage through
science and innovation to create jobs, to improve the quality of life for
all Canadians and to strengthen the economy for future generations."

"Through our Science and Technology Strategy and Canada's Economic Action
Plan, we are fostering a business environment that encourages private
sector investments in research and development, advanced technologies and
skilled workers," said Minister of State Goodyear. "It is vital to invest
in ideas for developing highly skilled people and improving the long-term
competitiveness of Canadian firms."

The report by the Council of Canadian Academies was commissioned as a
follow-up to a commitment in Canada's Science and Technology Strategy,
Mobilizing Science and Technology to Canada's Advantage, which was
launched by the Prime Minister in May 2007. Encouraging business
innovation to improve Canadian competitiveness is a key part of the
Science and Technology Strategy.

The Government of Canada has pursued this goal in the past three budgets
through improvements to competition policy and Canada's openness to
international investment; support for venture capital; support for
public-private research partnerships for university research
commercialization; tax support for investment in information and
communication technologies, machinery and equipment; and improvements to
the $4-billion Scientific Research and Experimental Development tax
credit.

Specifically, Budget 2009 provides more than $5.1 billion toward science
and technology initiatives. This represents one of the single-largest
federal budget investments in science and technology to date, including
$200 million over two years for National Research Council Canada's
Industrial Research Assistance Program to enable it to temporarily expand
its initiatives for small and medium-sized enterprises. Canada's Economic
Plan also provides $3.5 million over two years to the business-led
Networks of Centres of Excellence program to offer an additional 600
graduate internships through the Industrial Research and Development
Internship program. Together, these measures will contribute to the
creation of a stronger, more innovative economy and a more prosperous
Canada.

For more information on the Council of Canadian Academies and to read the
report, please visit www.scienceadvice.ca.

Contacts:
Office of the Honourable Tony Clement
Minister of Industry
Pema Lhalungpa - Press Secretary
613-995-9001

Office of the Honourable Gary Goodyear
Minister of State (Science and Technology)
Gary Toft
Director of Communications
613-943-7599

Industry Canada
Media Relations
613-943-2502

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