Minister of Innovation, Science and Economic Development Navdeep Bains says that the government has a role to play in funding research in fields considered too risky for private sector investment. ( Adrian Wyld / THE CANADIAN PRESS FILE PHOTO )WATERLOO, ONT.—The Canadian government will use its purchasing heft to help young companies scale up by focusing on awarding contracts to homegrown startups, the federal innovation minister said Thursday. We are the largest purchaser of goods and services, we really are a marquee customer for a lot of these companies,” said Navdeep Bains, Minister of Innovation, Science and Economic Development in an interview with the Toronto Star. In addition to leveraging the government’s purchasing power, the agenda will also focus on investing in talent and research as the primary paths to put Canada on the map as a global innovation hub. Scaling up companies beyond early growth stages has been a major stumbling block in Canada’s tech sector.

Source: thestar September 15, 2016 16:56 UTC