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Expert Panel Consultation Paper: Appendix 1

Appendix 1

List of Acronyms

BERD
Business expenditures on research and development
CCA
Council of Canadian Academies
GDP
Gross Domestic Product
ICT
Information and communications technologies
OECD
Organisation for Economic Cooperation and Development
PPP
Purchasing power parity
R&D
Research and development
SME
Small- and medium-sized enterprise
SR&ED
Scientific research and experimental development
S&T
Science and technology
STEM
Science, technology, engineering and math
STIC
Science, Technology and Innovation Council
US
United States
VC
Venture capital

Definitions

The OECD defines direct and indirect funding as follows: "Government direct R&D funding includes grants, loans and procurement. Government indirect R&D funding includes tax incentives such as R&D tax credits, R&D allowances, reductions in R&D workers' wage taxes and social security contributions, and accelerated depreciation of R&D capital."33