Good afternoon, and thank you to the committee for the opportunity to speak with you today.
I represent the World Health Innovation Network at the Odette School of Business at the University of Windsor, with a proposal to drive economic growth through scaling innovation in health systems.
The vast majority of spending in health innovation in Canada is for R and D, over 95%, and not enough is for supporting companies to scale these game-changing innovations. Innovative Canadian companies often leave Canada to grow their businesses, taking with them the jobs and tax revenue they create.
WHIN's proposal for $10 million over five years will allow us to work with innovative Canadian companies, health system leaders, government, academia and citizens to shorten time to market, identify new market opportunities, accelerate innovation procurement and rapidly scale innovative products in Canada, the U.S. and globally. In addition to driving growth for companies, this work will create jobs for Canadians and improve health system quality, accessibility and efficiency, and position Canada as a global leader in scaling health innovation.
Thank you.