Review of Federal Support to Research and Development - Innovation Canada: A Call to ActionExecutive Summary: The Panel's Advice in a Nutshell
Create an Industrial Research and Innovation Council (IRIC), with a clear business innovation mandate (including delivery of business-facing innovation programs, development of a business innovation talent strategy, and other duties over time), and enhance the impact of programs through consolidation and improved whole-of-government evaluation.
Simplify the Scientific Research and Experimental Development (SR&ED) program by basing the tax credit for small and mediumsized enterprises (SMEs) on labour-related costs. Redeploy funds from the tax credit to a more complete set of direct support initiatives to help SMEs grow into larger, competitive firms.
Make business innovation one of the core objectives of procurement, with the supporting initiatives to achieve this objective.
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