Quote:
Originally Posted by Fozzie_DeBear
Quick question about innovation and science in economic development.
As you are all members of Alberta's public to you which sounds like a smarter way to invest $x in the Alberta economy.
A : All of X in Research that is of interest to local industry...the technology is close to readymade.
B : 50% of X is invested in cool research which can stand a good chance of being very important (eg quantum computers) but local industry uptake is small at best (it's a riskier long term play). And the other 50% in the same way as A
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If we're spending public money I want to spend it on A. If we happen to have a quantum computing or similar breakthrough here (which is pretty darn unlikely, even with gov't $$) that technology would almost certainly get commercialized out of silicon valley or somewhere else where there was an established ecosystem. So you get bragging rights but little economic development.
I'd be more in favour of things that are tangentially related to what we do here, or at least build on our strengths. I do think diversifying makes sense, but do it as a step out from the base. For example, we produce petrochemicals, so research into new types of plastics. Or, instead of making investments directly into oilfield technology, are there valuable products we could be making using some part of the bitumen barrel. Basically, can we diversify our economy from a position of strength as opposed to trying to steal an industry we have no native expertise in.
My two cents.