Investing in Canada’s Future with Swagger: Federal Budget 2021

Posted in Blog, Invest Ottawa
Apr 22, 2021

Michael Tremblay, President and CEO of Invest Ottawa Michael Tremblay, President and CEO, Invest Ottawa, Bayview Yards and Area X.O

The past thirteen months have been filled with upheaval and challenges for people in every corner of this country. From individuals to families, businesses to governments, Canadians have been forced to adapt and pivot, sometimes overnight. But throughout these unprecedented times, Canadian innovation and resilience have prevailed. Invest Ottawa has experienced this spirit first-hand in the remarkable entrepreneurs and companies that have created opportunities in the face of harsh economic and health realities.

Throughout the pandemic, our community has been able to rely on our partners in government – partners like FedDev Ontario – that have stepped up to the plate consistently to provide support. This has enabled us to work together on critical shared goals: to help the entrepreneurs and companies that power our economy survive the pandemic and drive our future growth. The budget released earlier this week further reinforces that our federal government has the backs of founders, firms, and our community.

Invest Ottawa would like to extend sincere thanks to the Government of Canada for the visionary leadership provided in this innovation-centric budget – the first ever presented by a woman in Canadian history.

There is no question that this is one of the most critical junctures in our history. It challenges us to look forward, not back. It demands big, bold ideas. And it calls upon us to seek opportunities that increase our innovation capacity as a country.

This budget will enable entrepreneurs and firms in Canada’s Capital Region and across the country to fuel our economic recovery. And it directly addresses priorities at the heart of Invest Ottawa’s vision, mission, and mandate:

  • Helping to launch and scale high growth tech firms that enhance the health and sustainability of our people, economy, and environment
  • Bolstering strategic innovation and disruptive tech capabilities where Canada can demonstrate global leadership and capture a greater share of global markets – from smart mobility, EVs/ CAVs to cleantech and smart health
  • Driving technology adoption across all sectors of our economy, from main street to traditional and technology-driven industries, to increase productivity, performance, and profitability
  • Growing a truly inclusive and globally competitive economy founded on diversity, inclusion and belonging – one that creates a wealth of opportunity for people from every walk of life to grow and thrive. This includes greater support for women to combat the ‘she-cession’, and for women, BIPOC and immigrant founders and entrepreneurs from priority equity groups
  • Developing, attracting, and retaining the top talent required for us to compete with anyone in the world
  • Creating new opportunities for SMEs to supply novel technologies, products and services to the public and private sector of our domestic and global economy. This creates a powerful opportunity to transform our national economy and government and revolutionize procurement processes to create greater competitive advantage for homegrown firms, our public sector, and citizens
  • Strengthening critical industries such as tourism that increase our international brand as one of the greatest regions in the world to work, live, learn and play, helping us to attract new global business and revenues to our regional economy

This new federal budget will not simply help us build back better. It will enable us to lead the world. Invest Ottawa is proud to collaborate with our government and community to help achieve critical, shared goals. This budget invests in Canada’s future with swagger and equips us to compete in global markets. It is exactly what we need to create a stronger, healthier, more resilient, and innovative economy and future for all. #THEWORLDNEEDSCANADA

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