Minister Bains issues innovation challenge to Mississauga Board of Trade
Government and the private sector must boost spending on people, technology and companies
October 7, 2016 – Mississauga, Ontario – Innovation, Science and Economic Development Canada
In a period of low economic growth, the prosperity of the middle class will be based on the investments, strategies and partnerships that make Canada a global centre for innovation. To drive economic growth through innovation, Canada needs to develop the skills and talent of its people, help innovative start-ups grow into globally competitive companies and develop technologies that have the potential to transform all industries.
This is the message that the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, delivered today to private and public sector leaders at the Mississauga Board of Trade. In his remarks, Minister Bains emphasized the need for both government and the private sector to make smart investments in three key areas:
- People: Expand work-integrated learning programs, such as internships, apprenticeships and continuous learning opportunities, for Canadians at every stage of their careers—from new graduates right up to the highest-ranking executives.
- New and emerging technologies: Set big horizon goals and create broad-based partnerships to fund ambitious research projects that solve complex, large-scale problems and spark commercial opportunities for the private sector.
- Innovative start-up companies: Leverage the buying power of government, as the single-largest purchaser of goods and services, to support the growth of small and medium-sized companies that have the most innovative solutions.
Minister Bains also outlined how the Government's Innovation Agenda will create the conditions that result in well-paying jobs for the middle class, growth across all industries and an improved quality of life for all Canadians. He concluded by challenging the business community to spend more on research and development as well as on people development.
"There is no better place to talk about innovation than Mississauga, which is a reflection of the broader Canadian economy. The region includes a wide range of industry sectors that drive employment and innovation. They include life sciences, aerospace, automotive parts, information technology, clean technology, as well as food and beverages. More than 70 Fortune 500 companies have a presence in Mississauga. For this reason, the success of the country depends on the economic health of this region."– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
- Mississauga is Canada's sixth largest city and the third largest in Ontario, with a population of over 700,000 residents and over 50,000 businesses employing over 440,000 people. The Mississauga Board of Trade is the preeminent business association in Mississauga, creating an inclusive, innovative and thriving business community.
- Canadians have participated enthusiastically during a summer of public engagement on the Innovation Agenda: 28 round-table discussions and thousands of digital interactions have yielded over 1,300 ideas to date.
Follow Minister Bains on social media.
Office of the Minister of Innovation, Science and Economic Development
Innovation, Science and Economic Development Canada
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