After the implementation of the provincial government’s Strategies for Innovation, the Research and Innovation Council needed support to evaluate policy development and program review. Stiletto was engaged to prepare benchmarking of the checklist for high performing ecosystems, and prepare metrics for evaluating performance in each of the areas.
Stiletto conducted a review of exemplary jurisdictions to confirm the components of a high-functioning ecosystem, and then analyzed model best practices in those jurisdictions. We prepared a list of the key criteria needed to support the development of an innovation economy. We then cross-referenced the criteria with the current capabilities in the New Brunswick ecosystem and prepared a matrix to illustrate gaps, opportunities, and work in progress.
Based on the analysis conducted, Stiletto provided a model of how an ideal innovation ecosystem functions, and prepared a series of recommendations to help inform the Council’s decisions for policy development. We identified specific examples of how to support local innovative products through procurement and purchasing strategies. We also set out suggested criteria for the evaluation of future innovation investment opportunities to help guide funding decisions.