Abstract:
Applied research has been contributing to the innovation ecosystem for decades and moving Canada’s industry and innovation strategy. Complimentary but different to basic research, applied research address real-world problems in real -time! The essence of applied research is identifying practical solutions to industry driven specific problems. Applied research is accelerating solution to market while transforming and contribute to economy and job creation. The Canadian industry is primary made-up up of small businesses and medium sized enterprise which employ 63.8% (StatsCan 2022) of the workforce. Applied research is a way to connect this industry to the innovation ecosystem. Many reports have demonstrated that businesses are struggling with technological development sustainability and have limited resources to face these challenges. Applied research ecosystem however lacks the visibility, often misunderstood in terms of what is applied research and pivotal role we play in contributing to Canadian innovation ecosystem, steady industry competitiveness and train the future workforce. This panel will highlight how colleges and polytechnics support Canada’s industry and innovation strategy and the impacts made to emerging economic trends. The panel also highlights what is the value proposition of applied research, benefits of industry partnership and how applied research elevates the innovation ecosystem.