OTTAWA, ONTARIO--(Marketwire - Oct. 17, 2011) - The Honourable Gary Goodyear, Minister of State (Science and Technology), today received the final report of the Expert Panel on Federal Support to Research and Development (R&D) and thanked the panel for its recommendations on improving support for innovation in Canada.

"Canadian businesses need to invest in more research and development to make sure that, in the future, they can compete, grow and create new jobs," said Minister of State Goodyear. "Our government will examine this report closely with the goal of encouraging more business investment in R&D so that Canadian families can continue to enjoy a high standard of living."

In October 2010, the government appointed an independent panel to conduct a review of all federal support for business R&D. The panel conducted research and consulted with the private sector, academic leaders, the provinces and territories, and subject matter experts. In its report, the panel has provided recommendations on how the government can improve its contributions to innovation and help create economic opportunities for businesses. The government will review the recommendations over the coming months.

For more information about the panel and to access its report, please visit the Review of Federal Support to Research and Development website (www.rd-review.ca).