Innovation, Science and Economic Development Canada's mission is to foster a growing, competitive, knowledge-based Canadian economy.
The Department works with Canadians throughout the economy, and in all parts of the country, to improve conditions for investment, improve Canada's innovation performance, increase Canada's share of global trade, and build an efficient and competitive marketplace.
Innovation, Science and Economic Development Canada's mandate is to help make Canadian industry more productive and competitive in the global economy, thus improving the economic and social well-being of Canadians.
The many and varied activities Innovation, Science and Economic Development Canada carries out to deliver on its mandate are organized around three interdependent and mutually reinforcing strategic outcomes, each linked to a separate key strategy. The key strategies are shown in the illustration below.
The Canadian marketplace is efficient and competitive
Advancing the marketplace
Innovation, Science and Economic Development Canada fosters competitiveness by developing and administering economic framework policies that promote competition and innovation; support investment and entrepreneurial activity; and instill consumer, investor and business confidence.
Science and technology, knowledge, and innovation are effective drivers of a strong Canadian economy
Fostering the knowledge-based economy
Innovation, Science and Economic Development Canada invests in science and technology to generate knowledge and equip Canadians with the skills and training they need to compete and prosper in the global, knowledge-based economy. These investments help ensure that discoveries and breakthroughs take place here in Canada and that Canadians realize the social and economic benefits.
Competitive businesses are drivers of sustainable wealth creation
Innovation, Science and Economic Development Canada encourages business innovation and productivity because businesses generate jobs and wealth creation. Promoting economic development in communities encourages the development of skills, ideas and opportunities across the country.
Innovation, Science and Economic Development Canada is the Government of Canada's centre of microeconomic policy expertise. The Department's founding legislation, the Department of Industry Act, established the Ministry to foster a growing, competitive and knowledge-based Canadian economy.
Innovation, Science and Economic Development Canada is a department with many entities that have distinct mandates, with program activities that are widely diverse and highly dependent on partnerships. Innovation, Science and Economic Development Canada works on a broad range of matters related to industry and technology, trade and commerce, science, consumer affairs, corporations and corporate securities, competition and restraint of trade, weights and measures, bankruptcy and insolvency, intellectual property, investment, small business, and tourism.
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