I had a chance to participate in a round table discussion organized by the Canadian Innovation Centre and the RIC Centre on the Effectiveness of Canadian Commercialization. In this discussion, Dr. Sorin Cohn, Chief Program Officer of i-Canada presented the preliminary results of the 2011 Commercialization study. This study uncovered a lot of interesting points about Canada’s culture of commercialization and how Canadian companies approach innovation.
Some interesting points to take away from that presentation:
- Canada does not have an innovation gap, it has a commercialization gap
- The biggest reason companies gave as obstacles to commercialization was lack of sufficient funds
- A weak culture of collaboration, lack of funding and lack of commercialization expertize increases the commercialization time in Canada. In fact it takes 1.5 times longer to commercialize than innovate and because of this, many companies die in the process
Attached is the full report which I’m sure you will find interesting to review.