Investing in innovation in the resource sector. (Information to Guide You).

Innovation investment in the resource and related sectors is critical to improving Canada's ability to compete in the global marketplace, but many stakeholders still don't recognize the valuable role this sector can play in improving Canada's innovation performance. This is the finding of a new report from the Conference Board of Canada, Investing in Innovation in the Resource Sector.

The report recommends that government and industry, in partnership with other stakeholders, work together to create a national alliance for innovation. Such an affiance would coordinate the national priorities for highly innovative projects and assist the collaboration of all stakeholders in resource sector innovation. Government could then initiate more benchmarking studies with other counties in order to learn and encourage all parties in the sector to become more innovative. And industry could identify and invest in areas of R&D that promise niche advantage and lead to high value-added products. According to the report, one of the main obstacles to innovation in the resource sector is a tendency among industry leaders to see innovation as an expense, rather than an investment.

By Gilles Rheaume and Jacek Warda. Published by The Conference Board of Canada. Available in both English and French.