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Too many firms haven’t got innovation initiatives, laments the chief innovator

(Montreal) Too many Quebec entrepreneurs think about that they needn’t innovate, as a result of their recipe “works nicely”. Nevertheless, firms that choose ​​for the established order danger being overtaken by their rivals in the future, warns Quebec’s chief innovator, Luc Sirois.

“An organization that doesn’t innovate dies,” insists Mr. Sirois in an interview, who has the mandate to arouse the will to innovate amongst Quebecers. ” It is actuality. It might probably take time, it may stretch. Historical past demonstrates it. The profitable firms of in the present day are now not the profitable firms of yesterday. »

The truth that Quebec firms are lagging behind in innovation is nothing new. In 2021, they invested a mean of 5.6% of their earnings in analysis and improvement or in an innovation-related venture. This proportion is 6.6% in Ontario and 9.2% in British Columbia. It’s to vary this pattern that the Ministry of Financial system and Innovation created the Conseil de l’innovation du Québec in December 2020.

Mr. Sirois was nevertheless shocked by the variety of enterprise leaders who don’t see the purpose of investing in innovation. “What do you imply once you say you do not want it?” asks the startled chief innovator.

Solely half of firms (51%) had an innovation venture of their packing containers throughout the interval from February 2021 to February 2022, in response to a report by the Conseil de l’innovation du Québec primarily based on a survey by the agency of Leger ballot.

Of these firms that do not, 35% say they “do not want it”. This proportion is especially excessive within the Capitale-Nationale area (62%) and for companies within the development, manufacturing, transportation and warehousing sector (52%).

After they meet the recalcitrants, Mr. Sirois doesn’t see disillusioned folks, he nuances, however many managers who have already got so much on their plate.

“There are many causes: ‘my order ebook is full, my provide chain is damaged, I’ve to place out fires, it prices approach an excessive amount of, it is going nicely: why take a danger'”, he lists.

Nevertheless, the outcomes of the survey by the Conseil de l’innovation du Québec present that the innovation initiatives of Québec firms have spin-offs, underlines the chief innovator.

On common, Quebec firms anticipated their revenues to extend by 5.6% in 2022. This determine rises to 7.8% for firms which have developed an innovation venture. Corporations that innovate generate a larger share of their earnings via exports, 14.4% in comparison with 10.2% for these that don’t innovate.

Innovation advisors

With this stock, the Conseil de l’innovation du Québec desires to establish the perfect methods to encourage innovation throughout Quebec, explains Mr. Sirois. The subsequent step can be to course of the information by area with the intention to set up applicable options in collaboration with regional actors equivalent to municipalities and Regional Areas for Acceleration and Development (ERAC).

Throughout a earlier interview in Could, Mr. Sirois additionally mentioned the necessity to direct entrepreneurs to the correct assets to assist them of their innovation initiatives.

The report by the Conseil de l’innovation du Québec additionally reveals that enterprise leaders aren’t very accustomed to the principle federal and provincial financial improvement organizations. The very best identified are Investissement Québec (45%) and the Enterprise Growth Financial institution of Canada (45%).

Mr. Sirois sees the glass as half full when it’s submitted to him that greater than half of the respondents are unaware of those two organizations. He explains that their companies aren’t essentially appropriate for all firms and that the notice price amongst their goal prospects might be a lot larger.

To raised direct entrepreneurs to the correct assets, the Conseil de l’innovation du Québec has begun to supply coaching to financial improvement stakeholders.

About fifty professionals in authorities and regional organizations have already accomplished their coaching. 100 others are in coaching or are registered to affix a brand new cohort. Mr. Sirois hopes that 200 folks can have accomplished the coaching and obtained a certificates permitting them to current themselves as an innovation advisor.

The coaching permits stakeholders, particularly, to ask the correct inquiries to enterprise leaders to establish their wants. They will even have entry to a search base that may establish essentially the most appropriate packages, utilizing an algorithm. ” There are such a lot of. We’re speaking about 650 organizations, 350 funding packages. It’s inconceivable for a human to know all of them. »

The chief innovator was pleasantly shocked by the group’s urge for food for the coaching launched in December. “It occurred so shortly: 120 folks signed up for the coaching in simply two or three days. I assumed to myself, “wow!” I used to be flabbergasted. »

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