INFOGRAPHIC: B.C.’s biggest R&D spenders

R&D spending in B.C. | BCBusiness

The West lags the rest when it comes to private sector spending on research and development

B.C.’s top 10 private sector spenders on research and development spent a sum of $637.5 million on R&D in 2013, according to a list released Monday by Research Infosource, a Toronto-based market research firm.

B.C.’s overall share of R&D spending, while growing, is paltry compared to Ontario and Quebec. Bombardier alone spent $2.2 billion on R&D last year, while BlackBerry spent over $1 billion.

Telus was B.C.’s top spender on R&D last year, investing $161 million in 2013, or 1.4 per cent of its revenue. In comparison, aerospace-software-maker MDA Ltd. spent 63.4 per cent of its revenue on R&D, while engine-designer Wesport Innovations Inc. spent 55 per cent on R&D.

The average mid-size company spends five per cent of its revenue on research and development; technology, aerospace and pharmaceutical companies typically spend more than 20 per cent.

R&D, or research and development, are activities that lead to the development  of new products or procedures, or to improvement of existing products or procedures. The average mid-size company spends five per cent of its revenue on R&D.