Government has a role in supporting innovation

Here is a good overview of innovation and R&D policy that puts forth the idea that governments have a key role to play in fostering innovation. In essence it offers a view that fostering broad innovation activity in an economy requires a balance between public and private sector inputs. Despite this focus, the article does miss the fact that there are ample public-private R&D (P3RD) and industry-academic partnerships. I've made the point recently that, those who have been quick to criticize the latest S&T&I policy the federal government put out have ignored the fact that partnerships between college, polytechnics, universities and firms is a positive way to promote an innovation economy. Despite this oversight, the article proffers some good questions that are worthwhile to consider. It is useful to have this debate, particularly when half of business we surveyed in 2012 as part of our Toronto Next: Return on Innovation study said it is the government's role to innovate.