It was an expected policy, but it is not a revolution that the Minister responsible for Regional Economic Development and Minister of Economy and Innovation of Quebec, Pierre Fitzgibbon, proposed Thursday, presenting the new Quebec Strategy research and investment in innovation (SQRI2) 2022-2027. At the end of the day, the Minister resolutely wants research to take a commercial turn so that it can move more easily from idea to market.
Posted at 6:30 a.m.
What distinguishes the new strategy from the old one is quite simply that we added the investment function to the title “Quebec Strategy for Research in Innovation”, because we decided to invest more, in particular in the marketing of ‘innovation.
The Ministry of Economy and Innovation has thus decided to add additional credits of 2 billion over the next five years, which will bring the government’s investments in research and innovation to 7.5 billion by 2027. .
We would like the fundamental research of universities to be more valued and to result more frequently in opportunities for companies.
“We released 900 million to build a bridge between university research and businesses. Innovations often end up in Death Valley because investors aren’t ready to take the leap. We will facilitate this step before private financing,” suggests Mr. Fitzgibbon.
True to his hobby, the ultimate objective of this better framework for research and innovation is part of the Minister’s desire to reduce by at least half the productivity gaps that exist between businesses in Quebec and Ontario by 2027.
After extensive consultation with the various players in the Quebec research and innovation ecosystem and the filing of more than 230 briefs, Mr. Fitzgibbon decided to articulate his strategy around five priorities.
We need to better connect all the players in the innovation cycle and simplify support services for businesses. The strategy also intends to favor innovation within the very entities of the Quebec State, whether in health or education in particular.
Since innovation must also have a visible imprint in all aspects of human life and therefore promote sustainable and social development, the strategy undertakes to participate in the financing of initiatives that will go in this direction.
Talent development is also one of the priorities of the strategy. Only 23% of Quebec students enroll in faculties of science, engineering or mathematics, compared to 35% in Ontario.
Finally, the new strategy will continue to deploy innovation zones that have recently been designated, such as Sherbrooke in quantum or Bromont in digital. Mile-Ex should soon be declared an artificial intelligence innovation zone.
Performance evaluation and housekeeping
While this new strategy is therefore not a revolution, but rather an update, an updating of already established objectives, Pierre Fitzgibbon is also relying heavily on the support and contribution of the Innovation Council, which has been on foot last year.
The president of the Innovation Council and rector of Université Laval, Sophie D’Amours, made it clear during the launch of the new strategy that universities were ready to take the path to democratize research and share innovation. .
The Chair of the Board also recognized the importance of setting up a barometer and performance indicators that will make it possible to measure which programs are yielding the expected or conclusive results.
The Minister himself admitted that he had not been able to identify the exact number of granting agencies operating in the world of research and innovation or gravitating around it.
“I saw at least sixty of them. Surely there is a way to rationalize, but it’s not me who will do the evaluation and who will make the decision. The Innovation Council will be able to do this,” the minister said at a press conference.
Similarly, the Innovation Council will be able to examine the research and development tax credit program. Tax credits alone represent nearly $3 billion of the $7.5 billion in research and innovation funding planned over the next five years.
In Quebec, we have large-scale R&D tax credit programs, the performance and real scope of which deserve to be reassessed. Programs that could target more companies that really need them, or be abolished altogether to be replaced by direct investments in companies that really need them.
“We could be called upon to replace tax credits with direct subsidies, we’ll see,” agreed Pierre Fitzgibbon on Thursday and he is counting on the monitoring work of the Innovation Council to guide him, as the case may be.