Commercialization Day PatientCare Solutions

Speaking Points

The Honourable Gary Goodyear, PC, MP
Minister of State (Science and Technology)

Burlington, Ontario
February 28, 2011

Check Against Delivery

Good morning everyone. Thank you, Monica, and the PatientCare crew for being our gracious hosts this morning.

Ladies and gentlemen, today several of my caucus colleagues are visiting innovative businesses across Canada to highlight and update Canadians on some of the significant commercialization successes taking place at Canadian companies just like this one.

That, too, is why I am here—and also to highlight the essential role that investment in research and development plays in achieving these successes.

As you have heard me say before, the economy remains our government's top priority. With the economic recovery still fragile, we are focused on creating jobs and economic growth.

This is why our government is helping to get promising research and innovation to the marketplace. It creates jobs, strengthens our economy and improves the quality of life of Canadians.

The hardworking men and women here at PatientCare Solutions clearly understand the role innovation plays in maintaining a competitive edge.

Thanks to your commercialization efforts, PatientCare-built equipment can be found in many doctors' offices and clinics.

And I am delighted that the Harper Government—through the Industrial Research Assistance Program (IRAP)—was able to partner with you on the research and development stage of this project.

By supporting the development of advanced cardiac testing technology, we are building on Canada's world-renowned strength in the health sector.

Our investment here in Burlington has helped maintain research and development and highly skilled engineering and manufacturing jobs in Canada, stimulated economic growth and led to the commercialization of discoveries.

Simply put, investing in science and technology creates jobs—and not just any jobs but high-paying, long-term jobs. It also strengthens the economy.

And investing in research and development ultimately improves the quality of life of Canadians, raising the standard of living of hard working families.

Four years ago, Prime Minister Stephen Harper launched Canada's science and technology strategy.

It outlined a sustained approach to supporting the commercialization of discoveries.

Through the 2006, 2007 and 2008 budgets, our government provided an additional $2.2 billion in new funding for science and technology initiatives.

And years one and two of Canada's Economic Action Plan provided an additional $6.3 billion to expand research infrastructure and encourage Canadian businesses to invest in research and development and transform innovations into new products and services. Our plan is working. It is helping set the stage for long-term prosperity and growth for generations to come.

Indeed, since the launch of Canada's science and technology strategy, our government has made unprecedented investments to help stimulate the economy through science and innovation.

As Prime Minister Harper has said before, our goal is to encourage Canadian businesses to invest in research and development and to bring new ideas to the marketplace, which ultimately benefits all Canadians.

To remain at the forefront of the global economy, industry must invest in the people and ideas that will produce tomorrow's breakthroughs.

I cannot stress this enough.

As you know, our government designated 2011 as the Year of the Entrepreneur, highlighting the critical role innovators and entrepreneurs will play as we emerge from the global economic recession.

Success will not come simply from what governments do alone. The private sector must do more of what it does best: turn knowledge into innovation and innovation into greater wealth. And this greater wealth will enhance the quality of life of Canadians.

Of course, our government is here to provide targeted, strategic assistance to grow the economy.

One of the ways we are doing that is by improving the linkages between public research and private sector needs through a number of government programs that help marry up companies with universities and colleges.

This way, the private sector and academia have common access to research networks, facilities and young research talent.

Programs such as our new Business-Led Networks of Centres of Excellence and our Centres of Excellence for Commercialization and Research are helping researchers and entrepreneurs develop new ideas and translate those ideas into products and processes that generate wealth and improve the well-being of our society.

And of course, the Industrial Research Assistance Program—one of the government's most successful tools to help small businesses innovate—provides small and medium-sized enterprises with financial and professional resources so they can move plans forward and commercialize their work.

In addition, our government is keeping taxes low for job creators. To keep our economy competitive and to support innovative entrepreneurs in growing their businesses and creating jobs, we will keep taxes low. Another competitive advantage we are proud of is that Canada now has an overall tax rate on new business investment that is substantially lower than that in any other G7 country.

In closing, I want to offer my sincere congratulations to PatientCare and to its partners.

Our government is pleased to support Canadian companies that invest in research and development to bring new ideas to the marketplace, creating new jobs and strengthening our economy.

PatientCare Solutions is a Canadian success story and an excellent example of how businesses can succeed when they invest in research and commercialize new discoveries.

You are helping position Canada as a leader in building the strongest knowledge economy in the world.

Thanks again for having us today, and good luck in the future.