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Innovation Impacts: Measurement And Assessment

Innovation Impacts: Measurement and Assessment

It is widely accepted and understood that innovation is critical to economic competitiveness and social progress. To ensure that innovation investments are spent most effectively and remain a priority in the face of public austerity measures, it is essential that decision-makers obtain the most reliable estimates of the impacts of innovation investments. To help prepare for the challenges and opportunities that lie ahead, the Ontario Ministry of Research and Innovation asked the Council of Canadian Academies to assess best practices in measuring the socio-economic impacts of government spending on research and innovation activities that could be applied in the Ontario context.

To conduct the assessment, the Council convened a Panel of 13 Canadian and international experts from diverse fields. Esko Aho, Senior Fellow, Harvard University, Consultative Partner, Nokia Corporation, and former Prime Minister of Finland, chaired the Expert Panel.

The Panel has developed an authoritative report that catalogues the portfolio of Ontario innovation investments, presents an extensive literature review of measurement methodologies, and explores international best practices in impact assessment.

The report includes:

A new conceptual framework that is helpful for understanding innovation impact measurement and assessment at the program level and within the innovation ecosystem, respectively;

A catalogue of the portfolio of Ontario’s innovation investments;

An extensive academic and public policy literature review of leading-edge measurement methodologies; and

An overview of international best practices for measuring the socio-economic impacts of innovation.