Federal R&D Panel Reports With Six Major Recommendations
October 26, 2011
The expert panel leading the Review of Federal Support to R&D has submitted its final report to the Honourable Gary Goodyear, Minister of State for Science and Technology. It makes a series of recommendations that call for a simplified and more focused approach to the $5 billion worth of R&D funding provided by the federal government every year.Click here to view the report and recommendations
LifeSciences BC, in conjunction with a number of other provincial groups, participated in the submission to the panel. This six member panel, launched by the Federal Government, aimed to review all federal programs that provide support to business innovation. The panel was to make recommendations on how to maximize the Government’s contribution to research, development and innovation, specifically focusing on the following Federal initiatives:
- Tax incentive programs such as SR&ED
- Programs that support business R&D such as IRAP or sector specific undertakings
- Granting councils and their role in supporting business focused R&D
The impetus for this review revolves around the fact that Canada continues to offer relatively high value tax incentives and direct support for business R&D as a percentage of GDP; however, Canada ranks 16th amongst OECD countries for business expenditures on R&D as a percentage of GDP. This was an opportunity for LifeSciences BC to provide our input and suggestions on behalf of the membership.
Please click here to view the submission.
LifeSciences BC is planning a roundtable in the coming months to discuss some of these recommendations. In the meantime, if you have any questions or comments, please submit them here.
