Transcript – A conversation with Roy Kao, Senior Advisor Finance and Commerce, MaRS Discovery District: The Role of Innovation in Economic Growth

["Innovation and Business Success" with a picture of a building and CIBC logo is shown.]

[A conversation with Roy Kao, Senior Advisor Finance and Commerce, MaRS Discovery District.] 

[The role of innovation in economic growth.]

[Andrew Turnbull and Roy Kao are shown.]

Hello. I'm Andrew Turnbull. Senior Vice President, Small Business Banking at CIBC.

I'm here with Roy Kao. Senior Advisor, Finance and Commerce at MaRS Discovery District.

Thanks for joining us, Roy.

[Andrew Turnbull, Senior Vice President, Small Business Banking at CIBC.]

Countries around the world recognize the importance of innovation to economic growth.

It can create new markets, industries, new jobs, some of that never even existed before.

And breed new light into existing ones by making them more profitable and efficient.

Roy, can you share with us, the importance of innovation to the Canadian economy?

[Roy Kao is shown.]

>>Roy Kao: Sure, Andrew. And thanks for having me here.

[Roy Kao, Senior Advisor Finance and Commerce, MaRS Discovery District.]

Innovation is immensely important to the continued growth and success of the Canadian economy.

Canada has traditionally been a net exporter of natural resources.

But increasingly, other resources are gaining larger export market shares, such as, our knowledge and our expertise.

Canada is blessed with a world-class post-secondary education system, and equally importantly, our multicultural mindset and society combined to cultivate great minds into incredibly talented and hardworking entrepreneurs and innovators here.

[Andrew Turnbull and Roy Kao are shown]

These resources can only sustain the Canadian economy, if we actively and continuously

invest in our education system, 

[Roy Kao is shown.]

need to open our doors to the world and retain top talent by focusing our efforts to build strong Canadian companies and keep our skilled workers incentivized to stay home in Canada.

These efforts are critical not only for domestic sustainability but also give Canada, a unique social and economic competitive edge.

[Andrew Turnbull is shown.]

>>Andrew Turnbull: Thank you.

[Andrew Turnbull and Roy Kao are shown]

Roy Kao, Senior Advisor, Finance and Commerce at MaRS Discovery District.

[CIBC logo is shown.]

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