Canada earns ‘precarious’ C grade in innovation as investment levels slump: Conference Board
OTTAWA — Canada has slipped in its global ranking for innovation, falling back three spots compared to last year as business investment levels slumped, according to a new report.
In its annual study, the Conference Board of Canada ranked Canada 12th out of 16 countries for innovation, falling behind Australia, Belgium and Japan compared with last year and earning an overall “C” grade. The report ranks countries’ innovation capability according public spending levels, research and development, access to capital and other metrics.
Canada’s overall C grade this year is higher than its past score of D, but the Board cautioned that the improvement was “precarious” due to “persistent weaknesses and lagging investment” by private businesses.