Innovation is not invention,and is not only new high-tech gadgets,” saidDanBreznitz,as he kicked off his keynote at theݮƵ Innovation Summiton September 28.It is"the complete process of taking new ideas and devising new or improved products and services.”

Breznitzis thechair of Innovation Studies at the University of Toronto and author of a new booktitled,Innovation in Real Places: Strategies for Prosperity in an Unforgiving World.He joinedtheSummit on social and economic prosperityin conversation with²ٱǴ’sPresident,Dr. Vivek Goel, to discuss the process of innovation and challenge the audience to look at new models of innovation-based growth that enable communities to recognize their own advantagesin the global market.

Breznitztold toavirtual crowd of more than 150 that leaders and policymakersoftenaspire to copy the high-tech model created in Silicon Valley, but not only is Silicon Valley impossible to recreate, it is fraught with inequities. He explained thatthe miracle”, orbreakthroughidea, is just one stage of the innovation process.Itdoes noton its owndrive localized social and economicprosperitybecauseinventions do not create jobs or local re-investmentunless they are nurtured and developed further.

The innovation challenge for Canada, saidBreznitz,is that we’re very good at inventionand research, but we need to move beyond invention to scale prototypes for commercialization.

Reducing barriers to innovation

Dynamic change happens when policy transforms alongside the communities and innovators shaping ournation.The Summit’s panel explored how businesses and governmentsmustdo a better job atengagingnew voices andreducingbarriersif we want to move beyondourcurrentinnovationmodelsandchampionequity andsocial impact.

Jacob Glick, vice presidentofpublic policy at TELUSandsenior executive fellow at the Centre for International Governance Innovation(CIGI), explained that “innovation isn’t an end goal, but a means to an end” that benefits society. He noted that our currentCanadianprocess is not equitable, particularly when it comes to infrastructure. Rural and Indigenous communities have less access to infrastructure, like broadband and 5G technologies,thatarereadily available in urban centres. He notedthatthis isa solvable problemthat can be fixed with better policy and planning.

Tabatha Bull, CEO of the Canadian Council for Aboriginal Business, agreed that policies supporting more equitable infrastructure needstobeprioritized. She added that equitable access to financing needs to be addressed. Shehas seen thatIndigenous innovators are far too oftenviewedas “riskier” from a lender perspective, putting them at a disadvantage.

The panelists discussedhowCanadian businesses and governmentsshouldprioritize more voices and diverse thinking when it comes to innovation.BessmaMomani,professor at theUniversity of ݮƵandsenior fellow atCIGI, said that Canada should “tap into the talent” already within our society. She noted that racialized and immigrant communities bring different perspectives and experiences that challenge our old ways of thinking and spurmoreinnovation.

“Build back better”

As we move through the pandemic, Momani noted that “build back better” has become a global mantra— arecognition that our old models were not working and need to be improved. Thegreatnews, she said, is that there is no shortage of good ideas or talentin Canada, but we do need political will andsocial protectionpoliciesto make meaningfuleconomicchange.

The pandemic has shown us just how resilient and innovative we are when faced with a global challenge. It has also shined a spotlight on the issues and inequities in our society that can no longer be ignored.The conversationsat the ݮƵ Innovation Summithavearticulatedhowwe can change ourinnovationmodels to be more equitableand prosperous.Industries and governments must embrace new perspectives and policies that supportinnovationthat improves the quality of life for all Canadians.