- Village Gamer - http://www.villagegamer.net -

Canadian Firms Failing To Explain Benefits Of Their Innovations To Investors

conference board of canada [1]Canadian firms say lack of financing is the key barrier to innovation, even though Canada has one of the best-developed financial markets in the world. The first report [2] of The Conference Board of Canada’s [1] Centre for Business Innovation [3](CBI) suggests that investors will be more willing to finance innovation if innovators get better at explaining how their new or improved products or services will make money. A quarter of respondents to the CBI’s Innovator Survey on Innovation Metrics and Management identified finance as their number one challenge. Respondents to the nation-wide survey of more than 1,000 Canadian firms who are seeking financial support cited finance about four times more than any other issue. The respondents to the survey were firms of all sizes and across industrial sectors.

The detailed survey findings will be presented at the Business Innovation Summit 2013: Innovation for the Corporation [4] on Tuesday, February 19th and Wednesday, February 20th in Toronto.

Highlights:

“The Canadian innovation challenge boils down to great people and great ideas, but many entrepreneurs are poor at commercialization. Although small firms are often more innovative than larger firms, they are also the ones that are most likely to lack the internal cash flow to fund innovation projects. But they need to add commercialization skills to their technical innovation skills if they are to attract capital,” said Michael Grant, Director of Research, Capital Markets, Centre for Business Innovation.

“When innovating companies are able to communicate the financial value of their innovation and their business model, and execute a convincing commercialization plan, Canadian financiers will support them.”

The report discusses a range of other actions by businesses, governments and academia that could improve access to financing for innovation:

The report, Financing Innovation by Established Businesses in Canada [2], is published for the CBI, a five-year initiative launched in 2012 to help bring about major improvements in firm-level business innovation in Canada.

2 Comments (Open | Close)

2 Comments To "Canadian Firms Failing To Explain Benefits Of Their Innovations To Investors"

#1 Comment By Tami Quiring (@VillageGamer) On Wednesday January 30, 2013 @ 2:51 am

.@ConfBoardofCda Report: Canadian Firms Failing To Explain Benefits Of Their Innovations To Investors [9]

#2 Comment By @ConferenceJoel On Wednesday January 30, 2013 @ 3:46 am

MT @VillageGamer: @ConfBoardofCda Report – Cdn. Firms Failing To Explain Benefits Of Their Innovations To Investors [10]