Majority of Canadians have product ideas but lack of direction and funding prevents development of ideas

Toronto – March 13, 2009 – A national study commissioned by Nytric Limited, a leader in Canadian innovation consulting, reveals that a majority of Canadians have had ideas for new products, and many have considered marketing their invention. However, the survey results identify specific barriers that prevent inventive Canadians from realizing the potential of their ideas.

“There has never been a better time for Canadians to pursue their inventive spirit,” says Av Utukuri, president and CTO of Nytric Ltd. “Challenging economic times force us to seek out creative solutions to everyday problems.”

Additional survey results:

• Only eight per cent of Canadians are aware that the electric light bulb is a Canadian invention.
• Most Canadians are aware that the goalie mask (71%), telephone (61%) and snow blower (56%) were invented by Canadians.
• Quebec has the lowest perception of Canadians as innovative (58%), while British Columbia has the highest (86%).
• Men are more likely than women to have new product ideas (66% vs. 52%).

Click here to view the official survey results.