Having one of the world’s leading education systems coupled with motivated and smart investor backed entrepreneurs have demonstrated Canada’s capability as an inventor and startup nation. Despite this solid foundation and stellar performances from a small number of existing and upcoming unicorns, our overall return on innovation investment is falling short. The 2019 Global Innovation Index ranks Canada at 17th with a strong finish in market sophistication, first in VC investment and JV/alliances, and fourth in institutions. A top ten finish in “innovation inputs” or costly investments failed to convert to outputs (22nd) for an expected ROI. Canada’s business sophistication lags at 22nd. New ideas, technology and processes reach innovation potential when leveraged with sophisticated commercial practices.
CATA espouses a cultural shift moving beyond building good companies with world class state-of-the-art technology; struggling to transform to large companies or getting sold abroad. The shift includes resource re-prioritisation, building masterful sales, marketing, IP, advocacy, finance and talent leadership expertise, faster innovation adoption, resilience aptitude, and world class skills and capabilities building.