Canadians benefit from new jobs, skills and business opportunities through innovation

Government of Canada’s Innovation and Skills Plan creates the middle-class jobs of today and tomorrow

September 19, 2017 – Ottawa – Innovation, Science and Economic Development Canada

Canadians will benefit from new jobs, skills and business opportunities as a result of the Government of Canada’s Innovation and Skills Plan, a multi-year strategy to turn more promising ideas into market-ready innovations.

That was the message delivered by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, at The ONE National Conference—a gathering of chartered professional accountants and senior financial leaders from across the country to discuss issues of importance to the profession and to the public, presented by CPA Canada and CPA Ontario.

Through the Innovation and Skills Plan, the Government is supporting the growth of Canadian companies by encouraging the public and private sectors to collaborate in bringing more early-stage research to market. Specifically, the Government is:

• investing $1.4 billion in new financing for clean technology providers;
• investing $1.2 billion in the Strategic Innovation Fund and $950 million in the Innovation Superclusters Initiative to increase business investment in research and development, which accelerates innovation and creates highly skilled jobs;
• providing Canadian companies with faster access to top talent from all around the world, under the Global Skills Strategy, to support the scale up of high-growth companies and keep the jobs they create in this country;
• investing $125 million to launch the Pan-Canadian Artificial Intelligence Strategy; and
• creating the conditions for big-data analytics to drive innovation and job creation.

By providing more direct support for business innovation, the Government plays a key role in creating entirely new industries as well as companies that have the potential to become global brands. And as these companies grow, they will create more middle-class jobs for Canadians.