WHAT IS RESEARCH AND
Innovation is defined as a process through which economic value is extracted from
knowledge through the generation, development and implementation of ideas to
produce new or improved products, processes and services.
Innovation is commonly linked to research and development activity.The
survey also shows that university research plays
a key role in the innovation process as firms in industries supported by
science-based university research
are significantly more likely to be innovative.
STRATEGIES TO PROMOTE RESEARCH AND
The rate of innovation within a region is a function
of six major factors including the R&D infrastructure,
access to capital, access to skilled workers, the
characteristics of the supply chain, the competitive
environment, and the macroeconomic environment &
supporting infrastructure. Over the past 10 to 15
years, most national, provincial and state governments
developed research and innovation strategies.
Some of the common themes and key objectives in these
• Increasing public investment in primary R&D. The
Government of Canada, for example, has
committed to increasing their funding for big science
R&D through programs such as the
Canadian Foundation for Innovation (CFI), the National
Science and Engineering Research
Council (NSERC) and the Canadian Institutes of Health
Research (CIHR) etc.
• Expanding the number of graduate students. Graduate students serve as
educators, and disseminators of research results.
• Increasing funding for applied research and
• Establishing investment promotion agencies to
attract investment and leading technology
• Establishing technology demonstration
programs. Demonstration projects are a key
component of the commercialization process.
Demonstrations enable companies to prove-
out and refine their technologies.
WHY IS RESEARCH AND INNOVATION
Research and innovation generates benefits for a society in the short-term,
medium-term and longer-term. As indicated in chart below, in the short-
term, research activity generates direct economic activities , attracts and
supports world-class researchers, contributes to a more highly educated and
skilled population, foster linkages between key stakeholders and develops
the knowledge base.