I think it is important that we acknowledge programs like the industrial research assistance program at the National Research Council, which does help thousands of companies every year. It even has “industrial research” in its name. That's a very effective model.
I've been a fan of the patent box model in other countries, where, when a company creates some intellectual property and patents it, future revenues are almost protected from taxation, if they do grow and commercialize here in Canada. That may be something the country may want to explore in a bit more detail.