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From Garage to Global

The 12th Annual RE$EARCH MONEY Conference Budget 2013: Checking the Pulse of Canada's Innovation Policies. From Garage to Global. H ow to build strong innovative SMEs in Canada. Jerome Le Corvec April 2013. Innovation. Do we really understand what it is? What are the real inputs

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From Garage to Global

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  1. The 12th Annual RE$EARCH MONEY Conference Budget 2013: Checking the Pulse of Canada's Innovation Policies From Garage to Global How to build strong innovative SMEs in Canada Jerome Le Corvec April 2013

  2. Innovation • Do we really understand what it is? • What are the real inputs • What are the real outputs • As a nation, do we have the culture needed to innovate? • Are we trying to fix the issue using only action or are we really goal-oriented? • Are we replicating and implementing the best practices that work abroad?

  3. Imagine a cube

  4. Imagine a cube Innovation Funding innovation Ecosystem

  5. Innovation USER EXPERIENCE Technology Science $¥€£ $¥€£ Design Problem solving Strategy PERCEPTION 7 Billion - Earth population

  6. The innovators(individuals) Know-how Knowledge Soft skills /EQ Innovation Spirit Creativity

  7. Percy Spencer Microwave oven

  8. Stephanie Kwolek Kevlar

  9. The innovators(individuals) An innovator is an individual with the right level of knowledge, a deep and broad level of know-how, an open-mind for the unknown, fantastic curiosity and the desire to practically understand how things happen … and what to do with it! Know-how Knowledge Innovation Spirit Creativity Soft skills /EQ

  10. “Theory is when you know everything but nothing works. Practice is when everything works but nobody knows why. We have put together theory and practice: nothing is working... and nobody knows why!” - Albert Einstein

  11. The innovators(businesses) Small Businesses -10 to 75 employees -Positive but fragile cash flow Start-ups -1 to 10 employees -Negative cash flow In Canada, 95% of businesses are less than 6 employees Large Corporations -More than 300 employees -Positive and growing cash flow Medium Businesses -75 to 300 employees -Positive and stable cash flow

  12. Funding innovationAnd commercial growth Small Businesses -Positive but fragile cash flow -Should not impact cash flow -$200K to $10M -Finance growth Start-ups -Negative cash flow -Should not impact cash flow -$200K to $2M -Finance R&D allow the cie to exist The needs of the 4 stages of companies are very different and sometimes completely opposite Medium Businesses -Positive and stable cash flow -Minimal impact on cash flow -$500K to $20M -Reduce cost Large corporations -Positive and growing cash flow -No impact on cash flow -$20M+++ -Reduce cost

  13. Funding innovationAnd commercial growth Sources -VCs -BDC -EDC -Banks -Financing $500K to $10M Slow It is all about the right kind of money …in the right amount …at the right moment …at the right conditions …with a continuous flow …and with minimum delays (FAST). Ultimately, it’s all about having the ability to fail without catastrophic failure. Family, Friends and Angels $100K to $2M Slow Government grants and funding SR&ED, IRAP, FedDev, … $50K to $2M Slow Stock market Institutional investors $10M to $100M+ Slow

  14. “Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It’s not about money. It’s about the people you have, how you’re led, and how much you get it.” Steve Jobs — Fortune Magazine, Nov. 9, 1998

  15. Infrastructure Garage Research center Quality infrastructures are key (Physical as well as intellectual) Learning centers -Secondary schools -Colleges -Universities Corporate facilities

  16. Ecosystem Global Extended supply chain Silos Canadian Specialty Role as Innovation-enabler

  17. Cultural aspects Risk -Positive -Aversion -Fast -Slow Trade -Active -Neutral -Closed A country’s level of innovation is much more a reflection of its culture, than the level of formal education of its population. Security -Personal -Social -Financial Creativity -High -Low

  18. Creating wealth with innovation By growing trade with growing markets -China (1.3b) -Taiwan -Korea -India (1b) With commercial products for large markets and with significant value added Positive impact on populations -Safety -Stability Competing with the right value $$$ Instead of the lower cost For the past 100 years wealth is traveling West

  19. Why?Why is it urgent to fix Canada’s innovation and productivity issue?

  20. The scary picture 2012 Fall Report of the Auditor General of Canada If we want to maintain our living standards, our GDP will have to increase significantly in the next 20 years.

  21. It is a competition It is a competition with countries that will win better standards of living and others that will slowly lose their standard of living.

  22. What do we have to fix?And how? • Significantly improve the size distribution of Canadian companies (we need more 100 to 200 employee companies) • Must understand roadblocks to innovation and productivity increase • Focus on Micro-level and interview all the companies in the IRAP database • Then connect it with the Macro-level • Properly (qualitatively) finance innovation • One size doesn’t fit all • Time is of the essence

  23. What do we have to fix?And how? • Improve our education system with a balance between knowledge, know-how, soft skills and creativity • Inject values into Canadian culture to be successfully innovative (proudness, competitiveness, speed, efficiency) Yes we can attitude • Showcase our successes

  24. Questions? • Jerome Le Corvec, • President & CEO • Aonix Advanced MaterialsCorp. • 1740 Woodroffe Ave. S. ,Building 400 • Ottawa, ON K2G 3R8 • Canada • Phone: +1 613 723 1001 x220 • Email: jerome.lecorvec@aonixcorp.com

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