Innovation nation equals entrepreneurship nation: a story from a successful entrepreneur

Canada must put in place programs and policies that drive innovation, invention, and entrepreneurship. Canada has a lot of the building blocks to become a successful Innovation and Entrepreneurship Nation. Entrepreneurs take innovations and inventions out into the global marketplace. Canada spends billions of dollars through entities like CFI, NSERC and government R&D labs like NRC and CRC to drive innovation. It also has many programs to increase funding at universities and colleges and foster private-public partnerships. It also has programs like SR&D, Innovative Solutions Canada and IRAP to foster R&D within SMEs. Where Canada is not successful, is in driving more of its innovative population to Entrepreneurship. Canada has about one per cent of its population as entrepreneurs, while Israel is approximately 13 per cent. Why is that? Entrepreneurs and innovative SMEs will help lead Canada out of the pandemic as we adjust to new economies that have forced remote businesses, innovation, invention, and more global connectivity to broaden the SME marketplace. SMEs must innovate and adapt, or they fail. As a successful innovator, inventor, and hardened entrepreneur with two SME tech exits that have brought approximately $40-million into the Canadian economy and created hundreds of high-value AI jobs, I certainly think Canada can do more to become an ‘Entrepreneurship Nation’ to ensure thousands of innovations do not simply collect dust on the shelf as inventions typically do but are commercialized and brought into the global market as our products were. Our first start-up was a spinoff from NRC which does have thousands of innovations but not enough entrepreneurs spinning out. My lab back in 1999 focussed on automatic content analysis of email taking keywords to mobile. Our first start-up leveraged AI for compliance and exited to Entrust while our second leveraged monies from our first exit focusing on critical and emergency communications pushing into IoT, AI, and Smart Cities and was acquired in 2020 by Genasys. We exited as we had no scale-up equity backing. We were only offered debt. Financing is a huge part of the innovation and entrepreneurship ecosystem. Making more room for women and diverse individuals to join the bankers and financiers who typically keep them out, will make Canada more successful. Some 50 per cent of our population is women paying taxes, yet banks will only offer them business loans against their homes rather than equity if they decide to fund them at all. Women are a huge resource in this country who innovate and build amazing businesses as entrepreneurs. Why are they not funded? When will this change? I was recently asked about Canada Advanced Research Projects Agency (CARPA) proposed during the election as a benefit to Canadian innovation. I don’t think Canada needs to spend $2-billion on CARPA. I would think the money would be better spent through CFI, NSERC/NCEs, R&D labs, such as NRC/IRAP and CRC, as well as fostering the entrepreneurship ecosystem. And ensuring that all these entities are connected and communicating. After all, we have had great success in telecom innovation and entrepreneurship in this country. Some have suggested that Canada needs a brand protection strategy to support IP. I disagree with this as Canada is already a huge well-recognized global brand as we discovered in international trade as an SME that exports. And Canada already has CIPO which handles the patents and trademarks. Over the two startups, we were granted more than 45 international patents and as many trademarks. What is needed is to get more SMEs engaged with CIPO and understanding that if they do not protect their intellectual property or brand, they will fail as competitors and will exploit their IP. I would recommend a grant program for patents and trademarks through IRAP as this will encourage SMEs led by entrepreneurs to protect their innovations. A Canadian Innovation and Entrepreneurship strategy should include pillars. One of these is fostering Canadian talent or encouraging more talent from abroad as we cannot seem to keep up with the demand. Secondly, funding and establishing building blocks that are threaded through the elementary, high school, university, and college curriculum that teaches and fosters innovation and entrepreneurship, including each young student starting a business on a website, to get these foundations in place as the pandemic has taught us all to work, learn, and communicate remotely. Third, increasing funding for innovations in R&D with public-private partnerships so we do not shut down vaccine factories as we did 10 years ago. Finally, strong leaders to get us there would be a key cornerstone. Again, innovation with entrepreneurship needs a strong ecosystem. We have some of the basics and building blocks, but we need to have more powerful cohesion. Dr. Suhayya (Sue) Abu-Hakima is the co-founder/CEO of Alstari Corporation, her third and most recent tech start-up. She is an entrepreneur, innovator, and inventor. Her 35-plus years in tech have included running an AI lab at NRC, start-ups AmikaNow! And Amika Mobile. She has served on the National and Ontario Centers of Excellence. She has won numerous awards for innovation and entrepreneurship and was vested into the Order of Ontario and holds the Queen’s Jubilee Medal for her contributions to public safety and Canada. The Hill Times

Innovation nation equals entrepreneurship nation: a story from a successful entrepreneur

Innovation with entrepreneurship needs a strong ecosystem. We have some of the basics and building blocks, but we need to have more powerful cohesion.

The Valley of Never-Having-Lived: Canada’s innovation talent problem

Time to capitalize on Canada’s big AI advantage

Getting CARPA right to deliver transformational innovation

The Valley of Never-Having-Lived: Canada’s innovation talent problem

Real People. Real Stories.

York U drives positive change, empowers individuals to act

This ain’t no party, but populism is destroying our federal politics

Fraudulent claims of Indigenous identity are risking community for the rest of us

While fake scandals roil Ottawa politics, the real ones continue

Johnston has his work cut out for him

Is the Liberals’ House Affairs Committee filibuster a crack in this minority Parliament?

CARPA-Supercluster synergy can reshape Canadian innovation

Public sector must better support industry’s commercialization of intellectual property

What if we stopped playing second fiddle in terms of innovation?

How to build an innovation nation? Lead us by example

Investing in 5G is key to Canada’s COVID recovery, tackling climate change

News

Get free news updates

Opinion

Submit a guest opinion article

resources

Advertise

subscribe

get help

Innovation nation equals entrepreneurship nation: a story from a successful entrepreneur

Innovation with entrepreneurship needs a strong ecosystem. We have some of the basics and building blocks, but we need to have more powerful cohesion.

Get The Policy Briefings Newsletter