Six-week program launches to educate corporate directors on digital economy

A new program launched by the Council of Canadian Innovators will train corporate directors on governance issues faced by fast-growing technology companies.

The Innovation Governance Program (iGP), a six-week program offered free of charge, will begin its first fall term on Nov. 4. Current and potential members of corporate boards of directors will attend 10 online sessions on topics such as data commercialization, intellectual property (IP) and cybersecurity.

The Innovation Asset Collective, Cycura and Deloitte will be providing training for the fall program, while Sustainable Development Technology Canada (SDTC) is providing support to ensure that the program “develops critical missing capacity in Canada’s innovation ecosystem,” according to the Council of Canadian Innovators (CCI).

The initial fall cohort will be about 100 people, says Benjamin Bergen, the CCI’s executive director. The CCI said that successful participants will be added to the CCI’s Board Member Advisory Program, which refers candidates for board roles to Canadian companies.

The CCI represents more than 140 high-growth companies in Canada. It is chaired by Jim Balsillie, the former co-CEO of Blackberry, and John Ruffolo, the managing partner of Maverix Private Equity and the founder of OMERS Ventures.

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Bergen said that the training program was developed after the CCI began to receive regular requests for referrals for corporate board members.

"What we uncovered was that there was a lack of supply in the ecosystem around two pieces," he said. "One being an understanding of the intangible economy, and what it pertains from a board governance perspective, and the other around diversity and inclusion."

The struggle to find people who met both criteria pushed the CCI to develop a training program focused around commercialization and the new digital economy, he added.

In 2020, only 17 per cent of board positions were held by women, according to a report published by Innovation, Science and Economic Development Canada. Three per cent of board seats were held by members of visible minorities and 0.3 per cent by members of Indigenous groups.

"Diversity is a critical part of decision-making," Bergen said. "I think it's paramount that corporate boards reflect the make-up of this country."

The Innovation Asset Collective (IAC) will be providing training for two of the topics covered in the seminars — data commercialization and IP — while Cycura covers cybersecurity and Deloitte covers compliance, finance and capital investment.

Mike McLean, the IAC's CEO, said the level of strategic thinking around intellectual property is "really unsophisticated" in many Canadian companies.

"We see two really important needs for within the Canadian tech ecosystem," he told Research Money in an interview. "One is to really help companies build strong IP positions, and IP positions that they can use to commercialize their technology more aggressively. And then the second is for these companies to scale, they need proper governance, and they need directors that are informed on key issues."

The sessions will be designed to help future corporate directors assess IP strategies presented by management and challenge them rigorously, McLean added.

"We will look at some common IP scenarios that are either larger risks or large opportunities, and try and present some case studies around infringement issues, around portfolio growth and around other challenges tied to IP positions that may arise."

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