Your daily smile

There is so much content, I am thinking about making this a daily feature.

Canadian Press is running a story with the headline: Atlantic provinces’ private sectors lag in R&D – Universities keep pace but region’s firms too small. It quotes the vice-president of research for the New Brunswick Innovation Foundation as saying “there’s a simple reason companies in Atlantic Canada aren’t investing as much.”Generally, we’re dealing with smaller companies,” Roger Gervais said.” “That’s why the innovation foundation was created in late 2002. Universities in the province were having trouble accessing funds from many research councils and endowments that tend to kick in part of the funding, but expect the rest to come from elsewhere. In the last two years the foundation has invested $8 million.

It’s this last point that I want to work on for your daily smile. Remember the Prosperity Plan? It said that within 10 years New Brunswick would be in the top 3-4 provinces in Canada for R&D per capita or as a percentage of GDP. We were last then. And we were last in the most recent study.

But the smile is this. A simple calculation back then led me to the point that we would need to spend at least $100 million more on R&D each year just to catch Nova Scotia for R&D per capita.

And the New Brunswick Innovation Foundation has doled out $8 million in two years.

As I see it, that won’t even get us to 9th out of 10 provinces.