TORONTO, Nov. 13, 2017 /CNW/ - Canada's Top 100 Corporate R&D Spenders increased their total outlay on research and development (R&D) by a modest 1.3% to $12.83 billion in Fiscal 2016, according to Research Infosource Inc., which today released its annual corporate R&D spending ranking. However, with top-performer Bombardier Inc.'s performance left out of the mix, R&D spending by the other 99 leading firms rose by a more robust 4.8%.
In Fiscal 2016, Bombardier Inc. ($1.97 billion of R&D spending, down -14.2% on the year) remained by far, the country's leading R&D performer. Magna International Inc. ($662.4 million, up 3.6%), Valeant Pharmaceuticals International, Inc. ($557.7 million, up 30.4%), Canadian Natural Resources Limited ($549.0 million, up 4.2%) and BCE Inc. ($518.9 million, down -2.1%) rounded out the top 5 R&D companies. R&D spending increased at 67 of the 100 companies, declined at 31 and was unchanged at 2 others.
Research Infosource welcomed 27 companies – up from 26 last year – to its $100 Million Club, an elite group that spent $100 million or more on R&D in Fiscal 2016. Huawei Canada joined the Club with $127.5 million, up 35.8%.
The top-performing industry sector in Fiscal 2016 was Aerospace, where 6 companies posted total R&D spending of $2.69 billion. Seventeen Software & Computer Services companies were second in combined R&D spending ($1.99 billion), followed by 21 Pharmaceuticals/Biotechnology firms ($1.90 billion).
Regionally in Fiscal 2016, 46 Ontario-based firms accounted for $5.36 billion in R&D spending (42% of the total R&D spending), compared with 26 Quebec companies ($5.33 billion, 42% of total) and 28 companies based in Western Canada ($2.14 billion, 17% of total).
"Digging beneath the headline data, combined Top 100 R&D spending growth of 4.8%, without Bombardier, signifies strong underlying R&D spending growth for corporate Canada in Fiscal 2016", said Ron Freedman, CEO of Research Infosource. "The fact that R&D spending increased at two-thirds of the firms is also a positive result."
About Research Infosource Inc. Research Infosource Inc. is Canada's source of R&D intelligence. Drawing from proprietary databases, Research Infosource publishes Canada's Innovation Leaders, which includes Canada's Top 100 Corporate R&D Spenders, Canada's Top 50 Research Universities, Canada's Top 40Research Hospitals and Canada's Top 50 Research Colleges. As well, Research Infosource publishes specialized reports and The Innovation Atlas of Canada™ – a web-based research and innovation mapping and data information product.
SOURCE Research Infosource Inc.
For further information: or for an interview, please contact: Ron Freedman, CEO, Research Infosource Inc.,Telephone: 647-345-3434 ext. 22, Cell: 416-879-9000, Email: [email protected]