Innovation Rankings

Revealed: the top 50 most innovative companies in Canada in 2023

GlobalData reveals the top 50 most innovative Canada companies based on the new 3i Framework

Using GlobalData’s unique data and analysis we can reveal which companies have made the top 50 in Canada in our 2023 Innovation Ranking. GlobalData’s Innovation Ranking uses unique data analysis to highlight the companies at the cutting edge of global business.

The highest scoring company in Canada is Magna International.

Overall, the company based in Canada with the greatest change in its ranking points in the last five years (in comparison with ten years) is Resolute Forest Products.

Credit: Neil Rosenstech on Unsplash


GlobalData’s 3i Innovation Framework identifies companies’ innovation potential using novel sources of data including patents, filings, jobs and deals and ranks them on 19 key innovation quality and strength indicators. 

Patents is the primary dataset used, and for each company, we calculate innovation quality indicators using our exhaustive patents dataset, with 130+ million patents.

The indicators are grouped in three main pillars: 

  1. Intensity: a company’s innovation activity and focus 
  2. Impact: the impact of a company’s innovation on other innovators in and outside its sector 
  3. Ingenuity: the originality of a company’s inventions and investments in disruptive technologies

Top 50 most innovative Canada companies

In the below table you can see the top 50 companies based on the latest innovation ranking scores. You can also see how each company ranked in each of the three pillars (intensity, impact and ingenuity) with a darker shade indicating a higher score. 

From the data we can see that the company with the highest innovation score in the Canada is Magna International.

Sector spread

The chart below highlights the industry sector spread of all companies in the ranking that are based in Canada, with darker shades indicating a higher number of companies in that sector. 

From the data we can see that financial services is the sector with the highest number of companies in the ranking.

Thematic spread

The chart below shows the top 20 industry themes based on the number of active companies based in Canada with activity linked to each theme. 

Climate change was the most active thematic area for companies based in Canada.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

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