When Justin Trudeau announced the Liberal plan to promote innovation, create jobs and grow Canada’s economy, he could have had Terry and his wife Ravi in mind.
Terry Beech understands the power of innovation. He has created two start-ups, co-authored a successful book on innovation and is an adjunct Professor of Innovation at Simon Fraser University and the University of British Columbia. His wife Ravi is a powerful example of innovative success. With her MBA from Duke University, she spearheads marketing and development for a successful Canadian plumbing supply business that employs 100 people. Her company is reversing the decline of manufacturing in Canada in her business sector and winning awards in the process.
Canada needs to focus on Innovation. As other countries innovate and invest in research and development, Canada has fallen behind. According to the World Economic Forum, Canada now places 22nd in a global ranking on innovation, down from 12th in 2009.
After a decade of weak economic growth and job creation under Stephen Harper, Terry knows we must do better. Our economy needs investments in innovation now – not years from now.
Terry and Ravi know Canada can leverage the know-how and incredible capabilities of Canadians to seize new opportunities and create the jobs of tomorrow right here in Canada.
“The Liberal plan Justin Trudeau announced last week does precisely that.” Says Terry Beech. “Over the next three years, we will make significant investments to boost Canada’s innovative capacity and to help dynamic firms grow and create new jobs.”
A new Liberal government will:
- Invest $200 million per year, in each of the next three years, in a new innovation agenda. We will provide direct support to business incubators and accelerators, research facilities, financing, and other support for successful small companies wanting to grow and export.
- Invest an additional $100 million per year, in each of the next three years, in the Industrial Research Assistance Program. This new investment will include the implementation of a Small Business Innovation and Research Program. We will also set aside a portion of federal procurement budgets for promising new Canadian technologies and businesses.
“These two programs will kickstart the focus on innovation this country really needs to create the jobs of the future and compete in the new global economy.” said Terry Beech.
“We have also already committed to invest $200 million annually to create sector-specific strategies that support innovation and clean technologies in the forestry, fisheries, mining, energy, and agricultural sectors – and an additional $100 million annually for clean-technology producers, so that they can tackle Canada’s most pressing environmental challenges, whether in the air, in our water, or on our land.”