A clearer strategy for owning key parts of Canada’s innovation economy can help turn its research strengths into economic growth and sovereignty, panellists said Thursday morning at a MaRS discussion on the country’s innovation performance. (The Logic)

Talking point: The discussion built on a Council of Canadian Academies report showing Canada continues to excel at research and talent development while lagging in business R&D, commercialization and adoption. Vass Bednar, managing director of the Canadian Shield Institute, said the government should update how it evaluates foreign direct investment and prioritize owning more technology assets, rather than renting them from foreign-owned subsidiaries. She pointed to France’s efforts to build and control domestic email and video conferencing tools to strengthen sovereignty. University of Toronto innovation executive Jim Banting said companies may benefit from shifting priorities from raising massive amounts of venture capital—which is increasingly difficult—to landing key customers early on that can support their growth. Benjamin Alarie, CEO of legaltech firm Blue J, added that AI firms in particular need to make it easier for their clients to adopt their tools and clearly show how they can solve their business problems.