Strategic Innovation For BC Technology Companies

In May 2020, the Government of British Columbia published two reports emphasizing the importance of innovation and intellectual property to the future prosperity of BC: the Final Report of the Emerging Economy Task Force (the "Task Force Report"), and the final report of outgoing BC Innovation Commissioner Alan Winter (the "Innovation Commissioner Report"). While the Reports focus on providing concrete policy recommendations for the BC Government, those recommendations have implications for BC technology companies' innovation strategies.

First, it is important for BC companies to increase investment in innovation. The Reports emphasize the importance of R&D spending in a time when first world economies are increasingly dominated by intangible assets such as intellectual property. Historically, BC has relied on natural resources harvested through its forestry or mining industries, for example, to fund prosperity. However, as British Columbians are periodically