Canada can’t rely on pipelines alone — It’s time to scale up innovation
AI Article Summary
The article argues that Canada cannot rely solely on pipelines and raw material exports to achieve prosperity. Despite having strong inputs like universities and research spending, Canada lags in innovation outputs such as patents and high-tech exports. The authors suggest addressing this by rewarding risk-taking, improving venture-capital markets, and focusing on intangible assets to help foster globally competitive companies. Infrastructure like pipelines is important, but innovation and scaling up are essential for future success.
What This Means for Canadian Contractors
For Canadian builders, this means that while infrastructure projects like pipelines remain important, there is a growing need to focus on innovation within the construction industry. Investing in new technologies and processes can increase efficiency and global competitiveness. Companies should also consider enhancing collaboration with academic institutions to pioneer new construction methods and technologies.
