P.E.I. at the bottom in innovation in Conference Board of Canada report

P.E.I. scored a D— in an innovation report released by the Conference Board of Canada this week.

The rest of Canada did not fare much better. P.E.I. was one of five provinces with a D—. Overall Canada scored a C.

Paul Preston, director of science, technology and innovation policy with the Conference Board, is particularly concerned with P.E.I.'s drop in investment in information and communication technology.

"The score slipped from a B to a D on ICT investment. To give you a sense, it's currently at about 1.9 per cent of GDP. In 2007 it was at 3.2 per cent of GDP," said Preston.

"Technologies that can help transform your business help improve productivity, efficiency, open new markets."

A particular challenge for P.E.I.

Preston said that decrease needs to be taken in context with the growing economy. He noted the decline in technology adoption is happening across Canada.

Preston said P.E.I. has a challenge being a small, less diversified economy, but he believes investing in one or two successful niche areas might help improve future grades in innovation.

Researchers weighed 10 indicators, including access to venture capital and business research and development.

More P.;E.I. news