October 5, 2018 - Winnipeg, Manitoba
Date: October 5, 2018
Location: Winnipeg, Manitoba
Total Participants
| Organizations | |||
|---|---|---|---|
| 1. | Doug Lauvstad University College of the North (UCN) | 5. | Dave Angus, Johnston Group |
| 2. | Tracey Maconachie, Bioscience Association Manitoba | 6. | Chuck Davidson, Manitoba Chambers of Commerce |
| 3. | Shaun Loney, AKI Energy | 7. | Lindsay Dandeneau, Province of Manitoba |
| 4. | Paul Vogt, Red River College | ||
Summary of Discussion
- Roundtable participants communicated the need for stakeholder alignment around broader economic issues and opportunities.
- There is a need for better coordination amongst governments, industry, and academia. This applies on a province by province basis, as well as pan-western.
- There is also a need to identify key sectors and strengths.
- Markets should decide what level of support they need and what the opportunities are.
- An economic development strategy is needed, because without one there is uncertainty. Uncertainty creates lack of confidence, and it is confidence that drives growth.
- A strategy is also needed because there are limited resources, and there needs to be decisions on where those resources go. A strategy should contain elements of international best practices.
- Recognize the need to have an umbrella strategy, but not all western provinces have to do commit to all activities.
- Consider the social enterprise model in which governments support outcomes rather than outputs. This model ultimately and has been successful in other countries.
- In the age of disruption smaller entrepreneurs are at risk.
- Need to look for more opportunities to increase Indigenous participation in the workforce and business community.
- There is a navigation issue. Need a body to help navigate provincial, federal and municipal funding and resource.
- It is difficult to forecast what will be needed in the medium term in an economic development strategy in an age of technological disruption.
Elements of an Economic Development Strategy
- We need a goal statement and well defined roles and leads.
- Sector focused.
- International branding/marketing of the West.
- Metrics to determine success.
- Entrepreneurs need access to capital.
- Workforce education is key, as well as entrepreneurship training.
- Preparation for technology disruption.
- Need to constantly be prepared to adjust focus due to external forces.
- Develop a platform for sharing resources, strategies, research, and information. Having dialogue and working with partners is our strength.
- Strategy should address mechanisms for better decision making process.
- Don’t be boxed into strategic timelines or targets.
- Identify key activities of an economic development strategy.
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