Over the past 10 years, Canada has become a recognized player in genomics research, thanks to the support of the federal government, Genome Canada, and the regions.
We must continue to encourage funding of research at a national level and work harder to commercialize our research innovation to provide products and services of social and economic value.
To assist with this, it is recommended that additional funding be allocated to Western Economic Diversification to fund and co-fund large research projects, commercialization of projects, and to encourage product development and leveraging with industry partners.
It is recognized that encouraging research organizations to work with industry at an early stage is key to leveraging funds and expediting product development. It is also important to encourage not-for-profit organizations to work more closely with industry partners nearer to the commercialization stage. Therefore, we recommend that the scientific research and experimental development or SR and ED credits be extended to not-for-profit research organizations, and that the credits be refundable. If refundable SR and ED credits were made available to not-for-profit research organizations, the bench-to-shelf phase of industrial innovation would be significantly strengthened. In addition, we also recommend increased funding for the industrial research assistance program, IRAP, to support innovative Canadian start-up companies.
Bioscience and genomics research can offer solutions by helping the global food shortage. By developing new crops and seed varieties, we can work toward more productive and nutritious crops to feed the world more effectively in climate conditions that are changing. From developing canola with higher oil content, to researching ways to make flax a more effective vehicle for omega delivery, genomics has a huge role to play.
Is that it?