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PwC Up front | Issue 5 | Harnessing technology

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42 Up front Summer 2014 The leaders Breakthrough innovation and growth Innovative businesses are maturing twice as fast as their competition. These organizations have a more structured approach to innovation and engage a more diverse set of collaborators. By doing so, they're able to harness a greater number of ideas and see the best ones through to implementation. inSigHTS OnLinE PwC Global Innovation Survey (PwC, 2013) Download the full report | www.pwc.com/ca/en/innovation Innovation essential in Canada and around the world PwC's Global Innovation Survey, 2013, found that executives from around the globe agree that innovation isn't just important, it's essential to staying relevant and competitive in an evolving global market. Although Canadian companies express a very eager appetite for innovation, they lag behind the world in having some key components necessary for staying ahead of the curve. 35 % focused on aggressive growth $46 - million spending $282 - million spending 26 % focused on aggressive growth Appetite for innovation versus money spent Structures for managing innovation 37 % have formal structures in place 41 % have formal structures in place "But can I speak to the chemical industry? Can I speak to the oil and gas industry? This is the biggest change that has happened to forestry: talking to other sectors." Introduction of CLT to the North American market and the large-scale production of cellulose filaments (CF) – a wood-fibre-based biomaterial that can be used as a strengthening agent for traditional pulp and paper products and a slew of new products, including thermoplastics, reinforced plastics, adhesives and coatings – are two of the marquee initiatives coming out of Canada's forestry sector today. But FPInnovations is also leading the charge on a wide range of surprising innovations, including new transportation technologies. "We invented a self-inflating and deflating tire system for our trucks," Lapointe says. "So when you are on a gravel road, the pressure adjusts down; when you get onto a paved road, the pressure of the tires goes up. You save fuel; you save a lot on road maintenance." The technology is finding a receptive audience not only in forestry but also mining, which shares a lot of the same rough roads. For the oil and gas sector, FPInnovations has created a carpet made of poplar for use during pipeline construction in environmentally sensitive areas: "You just lay it down and the truck drives on, and you don't disturb the environment," Lapointe explains. Because the carpet is biodegradable, companies can leave it behind when they're finished construction. One challenge facing FPInnovations and other such organizations is a Canadian aversion to taking risks – and funding them. "We are very good at the research, we're very good at the training, but we have a lot of difficulty when innovation

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